Hamilton Beach forays into India, eyes 12% mkt share in 4-5 years
Aug 31 2014 , New Delhi
"We have been studying the Indian market for two years. We wanted a local partner with expertise that is focused on establishing Hamilton Beach in India. HCL is that partner for us," Hamilton Beach Brands director, International Business Development Brian Schwartz told PTI.
"We are targeting at 10 to 12% of market share of premium appliances category in the next four to five years," HCL Infosystems executive vice president and head (distribution business) Sutikshan Naithani said, adding, the size of premium appliances category at present is estimated at Rs 300 crore.
Hamilton Beach will plan its expansion in India in two phases. In the first phase, the company will import all its products from China and will distribute them in 25 cities, mainly metros and mini-metros.
In the second phase, which will begin from second half of 2015, the company will look at local production of some of its products and expanding its distribution reach to 35 cities, Schwartz said.
Under the tie-up, HCL will market and distribute the products while Hamilton will take care of branding and promotions in India.
Hamilton plans to bring 22 different kitchen appliances to India, and will expand its product offerings going forward.
Products are positioned in the premium segment and priced between Rs 3,000 and Rs 12,000, it said.