China's Monalisa Tiles makes India foray with $25mn investment

Venturing into India with an investment of USD 25 million, China-based Monalisa Tiles plans to open around 15 stores in the country this year.
With an annual turnover of USD 800 million and a global presence in more than 100 countries, the company is the third largest tile manufacturer in the world.
"In 2014, we will have around 15 stores in cities like Kolkata, Mumbai, Bangalore and other Tier-II cities like Jamshedpur," Aditya Bansal, CEO of Monalisa Group, said.
They have already opened their first showroom in the coutry here and are looking aggressively at markets in the eastern states as the region has lot of untapped potential, he said.

The company is beginning its India operations with an initial investment of USD 25 million (around Rs 153.5 crore) and is targetting first year turnover of Rs 100 crore.
"Due to its adherence to environmental labour laws, environment-friendly product and more than 100 million Yuan invested for scientific research, we have achieved advanced production levels in the field of polishing tiles," Huo Rongquan, vice managing director of Monalisa Group, said.
Spread across 9,000 sq ft of area, the Kolkata showroom is the first one in India, designed by Chinese architects where one can experience mock living room, bedroom, washroom, dining room and office area formats.

"Our focus is on the end consumer and so we are opening showrooms for the convenience of people," Bansal said, adding that they will gradually get in talks with builders for wholesales.