Germany-based Villeroy & Boch, a sanitaryware brand catering to the premium segment, is planning to open 25 stores in India by 2015 from the current 14.
Villeroy & Boch, which entered India in 2008, has aggressive plans to tap the growing Indian market and set up stores in Tier I and Tier II cities, including the four metros. Of the 14 existing stores it has now, two are HOF (House of Villeroy & Boch), exclusive stores housing all products of the brand.
The luxury sanitaryware market in India is expected to be around 25 million Euro. With rapid urbanisation and growing income, the demand for luxury products in India is growing, especially in southern India where urbanisation is happening at around 35 per cent.
“We have targeted 50 million Euro sales revenue from the Indian market in the next five years,” Thorsten Bies, sales director (Africa, India and Middle East), Villeroy & Boch, said. Its India operation has been growing at 50 per cent since the last three years, and it expects to grow at the same rate in the coming years.
The brand is well-known in Europe, and now the company is focusing on developing markets, with special focus on India, China and Russia, Bies said.
Villeroy opened its store here recently. The store, spread across 1,800 sft, is the first HOF in south India and third in the country. The starting range of a Villeroy product is Rs 8,000 for a wash basin, whereas the upper price range differs according to customisation of the products.