Crompton Greaves Consumer Electricals aims to double its overall revenue from kitchen appliances business in the next three years. The company, which earlier this year acquired Chennai-based Butterfly Gandhimathi Appliances, has now also forayed into the built-in kitchen appliances segment.
“The Butterfly business is already at about ₹1,000 crore and Crompton branded kitchen business is at about ₹200 crore. We expect the two brands to cumulatively generate revenues of about ₹2,000 crore in the next three years, growing at 25 per cent. On top of this, we aim to garner revenues of ₹300-400 crore from the built-in kitchen appliances segment. So overall, we expect the kitchen-related business to nearly double in the next three years. We hope to then be among the top two brands in the kitchen space,” Mathew Job, Executive Director and CEO, Crompton Greaves Consumer Electricals, told BusinessLine.
Garnering market share
With the built-in kitchen appliances pegged at over ₹2,200 crore, Crompton aims to garner a market share of 10-12 per cent over the next three years. The company’s built-in kitchen appliance range includes chimneys, hobs, built-in ovens, built-in microwaves and dishwashers.
“We will be rolling out 30-40 exclusive brand stores in the top 10 cities. These cities account for 50-60 per cent share of the built-in kitchen appliances segment. The range will also be made available at multi-brand specialty modular kitchen stores. Gradually, we will expand the presence of our built-in kitchen range to almost 300 cities largely through specialty stores,” he added.
The company is already in the process of opening the exclusive brand outlets called Crompton Signature Studios in Mumbai, Bengaluru, New Delhi, Hyderabad, Kolkata, Chennai, Pune, Ahmedabad, Kochi and Coimbatore. “With the launch of the built-in kitchen appliances at the premium end, we will be able to straddle the entire kitchen space,” said Job.
Spreading wings
The company is also looking to take Butterfly, which has a strong presence in the southern region, to other regions in the country in phases.
“The key priority will be to further strengthen the brand’s presence in the southern region. The next logical extension will be to take the brand to northern and eastern regions. Over the next 3-4 years, we will make Butterfly a pan-India brand,” he added.