Jaquar looking at 3-fold revenue growth in 2-3 yrs

MUMBAI: Bath and light fittings manufacturer Jaquar is targetting an over three-fold growth in revenue to Rs 2,000 crore within the next two or three years on the back of its recent foray into the sanitary ware products space and expansion of its existing portfolio, a company official said.

"We are eyeing a Rs 2,000 crore turnover over the next two to three years. The growth will be driven majorly by the growing economy and changing lifestyle of Indians. The other factors will be the launch of the sanitary ware, expanding the dealer network and increase in exports," Jaquar Director Rajesh Mehra told PTI here.

Jaquar, which recently launched around 125 new sanitary ware products, had posted a revenue of Rs 780 crore for FY'10 and expects to see business worth around Rs 1,050 crore this fiscal.

With rising incomes and a boom in the real estate and hospitality sectors, the sanitary ware market has also undergone a sea change in India, with several domestic and international players such as Roca, Villeroy and Boch, Kohler, Toto, Grohe and Hindware jostling for space.

Jaquar, set up in 1960, was mainly into the faucet manufacturing business, but of late, it has expanded its portfolio to comprise over 2,500 products, including high-end bathroom fittings, health and wellness products such as jacuzzi, showers and lighting and sanitary ware. It has a strong network of 1,800 dealers across the country.

Its high-end brand, Artize, offers collections such as Kavalier, Leblanc, Xquisite, Signac, Celini, Angelo, Leon and Travina, whereas its mid-segment Jaquar brand sells products like Florentine, Solo, Fonte, Aria, Lyric, Opal, Vignette, Fusion and Kubix. The price of its products ranges from Rs 4,000-50,000 and above.

The company also has an entry-level brand called Essco. "Our venture into the sanitary ware business is an important move for us, as the segment is expected to grow at a CAGR of around 22 per cent for the next five years," Mehra added.

On exports, Mehra said the company supplies its products to markets in the Middle East, Europe and the UK and plans to enter newer geographies soon.

Over the next three to four years, the company expects to garner 25 per cent of its revenue from exports alone. At present, exports constitute a a mere 5 per cent of the company's revenue.

Jaquar also plans to invest close to Rs 15 crore every year on marketing and promotion of the brand.