The leading player in the tiles and sanitary ware industry has recognised the segment of bath ware appliances as area for future growth.
Somany Water Heaters, by Somany Ceramics Limited, the flagship company of the H. L. Somany Group, was launched because of it being a noteworthy revenue contributor considering the size and growth of the industry. The bath fitting segment size is INR 2300 crore, split equally between organized and unorganised players and is growing at 15% to 18% per annum.
Reflecting on the idea behind the launch Mr Abhishek Somany, MD, Somany Ceramics explained, “We are planning to expand the brand from just tiles and sanitary ware to other areas that are relevant within the bathroom space. Although, we are entering into a new segment, it has a synergy with the existing line of our business. Furthermore, our venture into the division of bath ware appliances is inspired by providing a one-stop-solution to consumers for all their bath ware needs, as these precision-crafted artistic masterpieces are sure to set trends in the industry.”
Mr Abhishek Somany also added, “We would leverage our existing retail and distribution network for the product segment. Additionally we will also be looking at expanding into the electrical channel dealers. At present we have about 500 dealers and 2000 retailers for our bath ware segment.”
Somany is the quickest expanding brand in the bath ware industry and is focusing on making this category a leading brand in the bath ware industry over the next five years. “Our targeted sales revenue for geysers in the 1st year is 8-10 crores, and subsequently about 75-100 crores in 5 years. We will be a dominant player in the segment over a period of time,” expounded Mr Somany.
The company will set its sights on the mid to premium categories of the business pyramid, as it starts collaborating with interior designers in the metros and tier 1 cities. “They influence the decision making of home owners buying bath ware appliance for their homes. Moreover, the entry to mid segment has been seeing a good traction in the past few quarters. Hence, the company will be targeting this segment,” concluded Mr. Abhishek Somany.