Liberty rolls out sanitaryware products
Homegrown footware major Liberty on Wednesday forayed into the high-end sanitaryware market with the launch of its branded whiteware, Beach, and anticipates the new business to touch Rs 200 crore revenue mark in next five years.
By PTI |
NEW DELHI: Homegrown footware major Liberty on Wednesday forayed into the high-end sanitaryware market with the launch of its branded whiteware, Beach, and anticipates the new business to touch Rs 200 crore revenue mark in next five years.
The company is planning to capture 50 per cent of the high-end sanitaryware market in India, which is expected to grow to Rs 200 crore by 2010 from the present Rs 25 crore.
"Liberty Whiteware is expected to achieve break even point in its first year of commercial operations with an expected turnover of Rs 50 crore. The targeted turnover from the project is Rs 200 crore in the fifth year of commercial operations," Liberty Whiteware CEO Adarsh Gupta told the media.
The total sanitaryware market in India is around Rs 1,000 crore, of which high-end segment is just Rs 25 crore. High-end sanitaryware market would touch a level of Rs 200 crore by 2010 and the company anticipates to capture at least 50 per cent of the market by then.
Gupta said, the demand in the high-end sanitaryware market is primarily met through imports and the company is hopeful to effectively tap this market.
The company would sell its products both through exclusive outlets and multi-brand outlets. Liberty is planning to set up 12 company-owned showrooms in major cities in next two years and is also planning to set up 60 franchise outlets for the brand by then.
"We will set up 12 exclusive brand outlets besides 60 franchise outlets. The brand will also be sold through retail chains and multi-brand outlets," Gupta said.
The company has opened its first exclusive store in NCR and would soon open two more in Jaipur and Kolkata.
The 'Beach' product range would include - wash basins, bowls, shower trays, bathtubs, shower cabins, taps, shower mixers and faucets among other accessories.
"The group's diversification into whiteware comes in the wake of a rising demand-supply gap in the market, which is expected to increase to 1,30,000 metric tonnes by end of 2009. The move is also an attempt to leverage the leading domestic footwear brand from a single product segment to multiple value-added segments like ceramic sanitaryware," Gupta said.
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