Franke Faber eyes high-end kitchen appliance market

Targeting the high-end market kitchen appliance company Franke Faber India hopes to double its turnover in the next three years.

Ravi Gupta, Managing Director, South Asia, said the market for kitchen appliances in India, estimated at ₹600 crore, is growing at 20 per cent CAGR. The company, a wholly-owned subsidiary of Franke Artemis group of Switzerland, is focussing on the small, evolving high-end market. In the affluent segment people are spending more on renovation and regular purchase of kitchen appliances, he said.

Gupta was speaking to Business Line at the opening of the Forhome Boutique, an elite space styling outlet that hosts three of the world’s most renowned space styling brands – Nolte, Franke and Stanley.

The company, with a network of 100 distributors and 2,000 retailers across the country, plans to increase its exclusive outlets — Franke Faber Galleria — to 130 from 111 by the year-end. This will help it reach end-users and increase its market share, at 35 per cent currently. Franke Faber has a strong network across South Asia with a presence in Nepal, Sri Lanka and Myanmar, he said.

According to Peter Spirig, President, Asia, Franke Faber recently invested ₹100 crore to set up a manufacturing facility at Pune, which has a production capacity of 150,000 hobs and 50,000 other kitchen appliances annually. Besides, it has a manufacturing unit at Aurangabad for production of stainless steel kitchen sinks and professional kitchen equipment.

Ravi Gupta is also bullish on the Kerala market, where the company has a 10 per cent share of the high-end market. “Keralites want to replicate the international living experience in their homes after spending many years abroad,” he said.

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