Tiles maker Somany Ceramics today said it is looking at strengthening its presence in the overseas markets, including South Africa and the Middle East, with plans to double its exports within the next fiscal.
The company, which had a turnover of Rs 560 crore last fiscal, said at present around three per cent of its annual sales comes from abroad. It plans to increase it to six per cent within the next fiscal.
“At present, the export business is not significant, contributing about three per cent to our overall sales. In the coming fiscal, we want to take it to six per cent,” Somany Ceramics Joint Managing Director, Mr Abhishek Somany said.
The company said it is setting up exclusive outlets outside the country, starting with Nepal followed by South Africa and in the Middle East.
“We are emphasising a lot on our export business. We now have a product mix which is being accepted in the international markets. Setting up exclusive stores will help in establishing our brand abroad,” he said.
The company, which currently exports only tiles, is looking at introducing its sanitary ware products in the overseas markets.
Besides, Somany said the firm is exploring opportunities to enter into Germany, France and Australia. At present Somany Ceramics has presence in Nepal, Middle East, South Africa, England and the US.
On the domestic front, the company is also planning to double its retail presence taking the number of exclusive outlets to 120 by the end of the next fiscal.
Somany, however, did not reveal the kind of investment the firm is likely to put for executing plans both in India and abroad. The company usually spends about Rs 70 crore to Rs 80 on product development and marketing in a year, he added.