Hansgrohe Eyes Double-Digit Growth in India, Driven by Strong Market Performance
India: Hansgrohe, the German sanitary fittings manufacturer, expects double-digit year-on-year growth in India through Hansgrohe India in the coming years. "India was actually a major growth driver for us last year," said Hans Juergen Kalmbach, CEO and chairman of the executive board, Hansgrohe Group. This comes as the company faced construction challenges in Europe and reported a 9.3% decline in total turnover to USD 1.458 billion in 2023.
The company operates in India through its brands Axor and Hansgrohe, catering to luxury and premium bathroom product segments. It has tripled its business in India over the last three years and is expanding its distribution by adding 50 to 80 showrooms annually. Kalmbach anticipates India will soon become one of its top five global markets, overtaking the UK. Hansgrohe collaborates with real estate developers and hospitality brands in India and views the country's luxury market as relevant for other Asian regions and the Middle East.
Source: Business Standard