Large kitchen appliances company Franke Faber India Pvt Ltd (FFIPL), a wholly-owned subsidiary of the Franke Group, is aiming to touch the ₹1,000-crore mark in the next five years.
Switzerland-based Franke Group is a global provider of solutions and equipment for residential kitchens and bathrooms, professional food service sector, among others.
Jurg Fischer, Global Chief Financial Officer (CFO), Franke Group, said, “We believe that India offers significant opportunities and has a huge growth potential.We are looking to accelerate our investments in the country significantly. Our intention is to grow the Indian business to ₹1,000 crore in the next five years.”
FFIPL hopes to close this year with turnover of ₹260-270 crore.
“We are looking to invest in expanding our sales force, retail sales network, enter relevant new categories and grow our overall market position in India,” he added.
The company plans to enter the small domestic appliances segment by next year. It also believes there is significant opportunity to launch its professional coffee machines in the country.
“We have already set the foundations of our kitchen equipment business for the professional food service industry such as QSRs. We will now look at expanding it further,” he added.
Platinum stores
The company is also betting big on its experience centres, the Platinum stores, to showcase its portfolio of premium kitchen appliances. Fischer said that the company plans to have 25 Platinum stores in the next few months, which is a part of the company’s strategy to consolidate its brand position in the premium kitchen appliance segment.
Unlike other international kitchen equipment makers, FFIPL manufactures products such as kitchen sinks, hoods and hobs in the country.
The company plans to leverage on its manufacturing footprint to make India an export hub to serve other markets.