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Private Sector | Maharashtra - India | PID: 202741
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German lifestyle brand Hettich has unveiled a new flagship store in Mumbai, and plans to make India a manufacturing destination, while upholding the strategy of ‘Make in India for the World.’ Led by the growth momentum across India and anticipated demand curve normalising in FY25, the company will make large investment, banking on the economies of scale and the growing middle class for its go-to-market strategy for the OEM business model.
The Germany based manufacturer has a wide range of products, and has been investing in manufacturing faciities in the country, and calibrates the high volume products and the more affordable range in India with the same quality. It has invested into a new product which it expects to launch at the end of 2025. And this will be the first product which is ‘Made in India and Made for the World’ with a focus on the Asia-Pacific region.
Moreover, the uniformity of standards allow the company to fulfil different load capacities for example, different cycles and solutions. Hettich not just manufactures in India to cater to the demands of the Indian market, but also exports to China. In its plans for making India a global production hub. it also manufactures n India for global OEMs in the appliance industry, which have the highest standards of quality. Moreover, India's free trade agreements with other countries, and logistical advantages in terms of time-to-market is a major plus.
The Indian modular kitchen market size is expected to grow a rate of 25 percent CAGR between now and 2029 and may near USD 14 billion in terms of revenue estimates.
| Updated on: 12 - Apr - 2024
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