Versuni aims to double India business in 4-5 years

Versuni, formerly known as Philips Domestic Appliances, is looking to double its India business in the next 4-5 years. The company said this growth will be driven by categories such as kitchen appliances and garment care. India is the fifth largest market for the company globally.

It is also ramping up its portfolio with the introduction of coffee machines amidst the fast-growing coffee drinking culture in India.

Gulbahar Taurani, MD and CEO, Versuni India Subcontinent told businessline, “ We have been able to maneuver through the headwinds seen in the last three years and have grown year-on-year supported by a diversified portfolio.

Some of the categories that we are focusing on are still very new to India. Categories like airfryers and garment steamers are growing in high double-digits while other segments are growing in high single digits. As a combined business, we are growing faster than the industry growth rates.“

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In September 2021, Royal Philips sold its domestic appliance business to global investment firm, Hillhouse Capital. In February 2023, Philips Domestic Appliances business was rechristened as Versuni and as licensee of Royal Philips continues to use the Philips consumer brand. In India, Versuni sells its products under brands Philips and Preethi.

In January, Versuni India announced the opening of its new greenfield facility in Gujarat with an initial annual capacity of 5 lakh airfryers in phase 1 and 2 lakh garment steamers in phase 2, which can be scaled up in line with demand. “We aim to double the India business in the next 4-5 years. India is the fifth largest market for Versuni in terms of turnover and so we make a sizable contribution to the global business of Versuni,” he added.

The consumer appliance major is next looking into tapping into the fast-growing coffee culture in the country. “ We believe Indian consumers are becoming more discerning and want the same coffee-drinking expierence at home as their favourite cafe.

We have initially launched coffee machines in Delhi and Mumbai. The initial response is fantastic and we will gradually expand the distribution to the top cities,” Taurani said. Globally, Versuni is a significant player in the coffee machines segment. The company now believes it can play a role in creating the coffee machine category in India just like airfryers.