Tiles maker Somany Ceramics on Tuesday said it has entered into an agreement with Italy’s Fiandre Group for marketing and distribution of the latter’s Active range of tiles in India.
Under the agreement, Somany will start selling the premium tiles which are priced at Rs 350-450 per sq ft at its stores in all major cities.
“We are looking at a target between half a million to one million euros of sales for the Active tiles in a year,” said Mr Abhishek Somany, Joint Managing Director, Somany Ceramics.
On entering the pact, Fiandre Group R&D Head, Mr Valentino Capucci said: “It (Somany) is one of the very few companies who has a perfect structure and balance of capabilities to introduce the Active range in the Indian market.”
“We are bringing our international brands, expertise in ceramics, and innovation on products, while Somany Ceramics is bringing their strengths of strong brand presence and robust distribution network in India,” Mr Capucci said.
Somany Ceramics expects to touch revenues of Rs 1,000 crore for this financial year and is aiming at a 25 per cent growth in the next financial year.
“We are looking at a growth of 25 per cent in the next fiscal. The growth will be based on acquisitions, increase in volumes and enhancing our marketing network,” Mr Somany said.
Shares of Somany Ceramics today closed up 5.03 per cent on the BSE from at Rs 38.60 apiece.