Spanish bathroom and sanitaryware firm Roca Group said India will become key role in its global strategy over the next three years.
The USD 1.8-billion Group's global management is aggressive on India in terms of investment and acquisition and a kitty of Rs 150 crore had been earmarked in order to emphasise on Asia-Pacific revenue to keep a balanced geographical distribution strategy.
"We have high expectations from India which is growing the highest with 18 per cent, far ahead in global standards and within Roca group. We had set a target to double India's revenue to 16 per cent of the global turnover in the next 3 years," Roca Group global corporate marketing director Carlos Velazquez said.
Roca India Managing Director K E Ranganathan said India focus will help Roca enhance Asia-Pacific revenue of the group as part of the business risk management plan for a sustainable growth vision in the medium-to-long term.
"Asia-Pacific accounts for just 18.5 per cent, while West Europe, Africa and Middle East generated 35 per cent of global revenues of USD 1.8 billion as of 2018. We aim for some rebalancing," Velazquez said.
Dymistyfing India plans, he said the Group wants to deepen Roca brand in India with new technology products and market expansion.
Currently, Roca Group's major revenue from India generates from Parryware, an Indian brand which the acquisition of which was completed in 2008 into a fully-owned subsidiary.
Ranganathan said in the next leg of growth of the company in India, Roca brand will play a greater role while retaining the momentum of Parryware.
Roca as a brand contributes 45 per cent of its global sales but in India it is at a nacent stage.
"As a company, Roca caters to all the segment in India now. Armani Roca into luxury, Roca in the super premium segment, Parryware into premium while Johnson Pedder caters to the mass segment in sanitary ware and bathrooms" he said.
Velazquez said acquisition is a key strategy for Roca and in India acquisition continues to be on radar.
Faucets is a key area for acquisition or a greenfield plant to expand present capacity in India, Ranganathan said.
Design, Quality, functionality and technology on sustainability will be key differenciators to garner larger market share.
"Water saving continue to be a key area of focus and products with higher saving will hit the market" Rangathan said.
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