Hindware’s EVOK lines up Rs 250 crore for expansion

Home solutions provider EVOK, part of the Hindware group which is known for its

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ceramics, glass and bath products, is looking at investing around Rs 250 crore for increasing the number of outlets in its two formats and strengthening the home solutions offerings.

The company hopes to launch around eight Mega Home Stores and nine Super Specialty Kitchen Stores by the end of this year, which would be located in key cities of South India like Bangalore, Chennai, Cochin, Coimbatore and other significant cities across India like Kolkata, Mumbai, Vaashi, Nasik and Aurangabad.

“We aim to tap a turnover of around Rs 400 crore in three to four years. Of this, South India offers a Rs 100 crore revenue market,” said D K Jairath, chief operating officer of Hindware Home Retail, a 100 per cent subsidiary of HSIL. The company right now has a turnover of Rs 110 crore, around 85 per cent of which coming from the Northern outlets.

EVOK Mega Stores will also work with architects, interior designers, builders and corporate community utilising the group network and relationships for institutional and projects business.

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