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BSH Household Appliances, part of Germany’s diversified group Bosch, has launched its elite luxury brand ‘Gaggenau’ in the country.
This is the company’s third brand in the country, after Bosch and Siemens.
“The luxury segment is growing fast and there are other luxury brands which are also entering and we are seeing kitchens being sold with values over ₹40-50 lakh in the country, and therefore, we believe there is a market for luxury appliances to complement to luxury kitchens.
“Also, there are high-end condominiums being sold, so for that particular segment, we are launching this brand Gaggenau,” BSH Household Appliances Managing Director and Chief Executive Officer Gunjan Srivastava told PTI.
The luxury built-in appliances brand Gaggenau has been around for over three centuries, originating in Germany.
“We believe that the Indian consumer durables sector is witnessing an inclination towards premiumisation in the last few years and we are confident that this is the appropriate time for a brand like Gaggenau to enter the market,” he added.
BSH Household Appliances will be launching the full range of appliances like hobs, hoods, ovens, microwave ovens, dishwashers, coffee machines, vacuuming drawers, wine cabinets and refrigerators in six cities this year, with prices ranging from ₹2 lakh to upwards of ₹20 lakh.
The products will be imported from its Germany and France facilities.
“We want to reach the top four to five cities to start with and then take it another four to five cities. We are starting with Delhi, Mumbai, Bengaluru, Gujarat and later with Pune and Hyderabad,” he said.
The company also plans to launch its ‘experience centre’ in Mumbai next year.
It has identified two channels in terms of go-to-market strategy -- the premium high-end developers and the high-end kitchen retailers who deal in imported luxury kitchens.
Srivastava, however said it is too soon to estimate Gaggenau’s growth or revenue in India, since there is no competition in the luxury appliances space at present in the country.
BSH Household Appliances has been clipping at a growth of 30 per cent in India. “We are looking at next seven-eight years, clocking minimum 30 per cent CAGR, every year,” Srivastava added.
“We are spending over 15 per cent of our revenue on marketing, which is quite substantial,” he said.
BSH Household Appliances will be launching the full range of appliances such as hobs, hoods, ovens, microwave ovens, dishwashers, coffee machines, vacuuming drawers, wine cabinets and refrigerators in six cities this year, with prices ranging from ₹2 lakh to upwards of ₹20 lakh.
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