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Tiles and home decor player, Asian Granito India Ltd announced its foray into the faucets, showers, and bath accessories segment with an aim to become a 'Complete Bathroom Solutions' provider.
AGL has invested about Rs 8-10 crore towards expansion of its sanitaryware segment, while it is investing additional Rs 6-8 crore for the expansion of its faucets and showers category, a company official said.
With the latest investment, the company is aiming to make its bathware category to become Rs 150-200-crore brand in the Rs 9000-crore faucets industry over the next 4-5 years.
Commercial operations will commence from December 2019 with a product range of around 12-15 series and expand gradually including launching premium range in the coming time.
Shaunak Patel, Profit Centre Head - AGL Bathware, said, "Expansion of faucets, showers and bath accessories will complement our recently-launched sanitaryware range to provide complete bathroom solutions under 'Brand AGL' along with our wide range of tiles, engineered marble and Quartz."
Adding to it, Pankaj Patel, who is also the Profit Centre Head, said, "The company is launching faucets range in the mid and mid-premium segment and will look to launch an ultra-premium range in the coming time."
AGL looks to source high-quality products domestically & internationally and commence manufacturing once the desired volume is achieved. It bets big on its strong tiles distribution network to gaining market traction. The company has over 6,500 touch points with dealer & sub-dealer network, 300+ exclusive AGL Tiles showrooms and 13 Company-owned Display Centres across India.
Bathware division will build a network of 500 plus dealer touch-points with over 50 distributors for the faucets and sanitaryware over the next 12-18 months.
Kamlesh Patel, Chairman and Managing Director of the company said, "Company is committed on its growth strategy to focus on Asset light and Capital light business model, becoming a strong retail brand in the domestic as well as exports market and achieve a leadership position in key business segments."
AGL shares traded flat on Tuesday to close at Rs 228 on the BSE.
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