Parryware forays into Rs 60cr Karnataka taps market

To step up presence in Kerala, Andhra in next two months

Parryware, a well-known sanitaryware brand with around 40 per cent market share, has announced its foray into the Rs 60-crore taps market in Karnataka. The overall taps market in India is estimated to be at Rs 1,000 crore.

In the first phase of its expansion, Parryware plans to expand its presence in Kerala and Andhra Pradesh in the taps segment within the next two months to complete its south expansion. The company will then expand nationally over the next 12 months.

K E Ranganathan, general manager (sales and marketing) of Parryware, said: "We are targeting to capture a 10-15 per cent market share in the taps market within the next three years. We will be making substantial investments. While Parryware will initially focus on domestic markets, we will also target markets like Sri Lanka, Bangladesh and Pakistan once our domestic expansion is completed."

"Parryware ended the previous fiscal with revenues of Rs 160 crore and targets a 15-20 per cent growth this year,"he added.

Parryware taps will be marketed through the company's existing 3,500-dealer network and more than 3,500 retailers across the country. The taps have been competitively priced, ranging between Rs 3,000 and Rs 8,000 for a bathroom set.

"We have built customer loyalty with our innovative products and nationwide customer care centres. These centres offer services like installation, maintenance and renovation. With the launch of contemporary range of taps and fittings, we will be fulfilling the need of our customers in having quality products with service back-up," Ranganathan said.

The company has set up 12 customer care centres across all major Indian cities. Parryware exports its sanitaryware products to South Africa, middle east, Israel and other neighbouring countries.

Set up in 1952, Parryware is a division of the Rs-600 crore EID Parry (India) Limited.

As part of the Rs 5,000-crore Murugappa Group, Parryware has under its fold, the entire range of products that include Vitreous Sanitaryware, seat covers, plastic cisterns, bath tubs, kitchen sinks and electronic flushing systems.

The exquisite forms of Parryware range take shape in three state-of-the-art manufacturing facilities located at Ranipet, Dewas and Alwar.