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Sanitaryware company HSIL Ltd has forayed into the water heater segment under a co-branded marketing arrangement with French company Groupe Atlantic.
Sandip Somany, Joint Managing Director, HSIL Ltd, said “We want to be among the top three brands in the next three years. We are eyeing revenues of ₹200-250 crore in the next three years from the water heater segment.”On Wednesday, the company launched a range of water heaters under the brand “hindware-atlantic.” It will be importing these water heaters from Groupe Atlantic’s global plants. Somany said the two companies have been working for three years to study the market and are now ready to expand and tap this opportunity. “This is the first step of the partnership where we will be launching co-branded water heaters,” he added.
Growing opportunityGiles Romagne, Managing Director, Groupe Atlantic, said the water heater market in India is expected to cross $300 million in FY16 and provides an extensive opportunity for growth and expansion.
HSIL has also tied up with Snapdeal to sell these water heaters, priced in the range of ₹4,000-12,000, through the e-commerce route along with retail.
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