Russia's Vitek forays into India, eyes Rs 300cr sales in 3 yrs

Russia-based home appliances brand Vitek, which has been launched in the country by SPG India, is looking at a Rs 300 crore turnover in three years.
"We are launching Vitek brand in India with 40 products. In the first year of operation we are aiming for Rs 50 crore turnover and we are looking at Rs 300 crore turnover in three years time," SPG India Pvt Ltd Director Hemant Japi told reporters.
SPG India is a part of Russia's Golder Electronics.
Vitek's product portfolio consists of hair and grooming products, kitchen appliances, small home appliances such as vacuum cleaners and air coolers.

Japi said the company may also look at launching other Vitek's products such as air purifiers and air conditioners.
"Our parent company has a turnover of USD 300 million and offers 650 products. We will expand our offerings as we expand our presence in the Indian market," he added.
In this first year of operation, the company will sell products in 20 cities and it will expand it to 200 cities by 2019.
Vitek's products are priced between Rs 1,999 to Rs 20,000 in India.