The Indian unit of Germany's architectural and furniture hardware provider Hafele today entered the kitchen appliances category, saying that it is targeting 35 per cent increase in turnover this year.
Hafele India launched 'Nagold' range of in-built kitchen appliances targeting upper middle class customers.
Nagold's product range includes hobs, microwave and electric ovens, cooker hoods, built-in Barbeque and deep fryer, dishwashers and refrigerators. These products are priced in the Rs 16,000 to 1,20,000 range.
"We are creating a new category with these appliances. We are moving into a vacuum in the market at the moment... Either products in the market are too expensive or do not have much features," Hafele India Managing Director Jurgen Wolf told PTI.
"We have features rich appliances at very aggressive price points," he added.
The company is targeting Rs 270 crore turnover this fiscal, an increase of 35 per cent over Rs 200 crore it logged in the last financial year, Wolf said.
Presently, all the products sold by Hafele are imported from 68 countries across the world.
When asked if the company is looking at the option of local manufacturing, Wolf said: "Right now no immediate plans to manufacture in India but as business climate improves we may look at that."
He said the company will continue to develop and refresh its products range. "I can see new items coming in every 3-6 months.
