According to a Times of India report, Laurent & Benon Group, interested in sectors ranging from hospitality to shipping solutions, on August 10, 2017 in New Delhi, forayed into consumer durable space with brand Kaden and is expecting a sales of INR 200 Cr. in next two years.
The company would have its presence in the premium home appliances category and would cater to the customers in Kitchen, homecare and heating segments.
“We are aiming to have a sales of INR 200 Cr. in next two years. This year, we would have around INR 80 Cr. sales from the segment,” said Aman Syal, CEO, Laurent & Benon Group.
The company has invested INR 40 Cr. to set up R&D facility at Gurugram, which would help it to introduce India specific consumer durable product and enhance its portfolio.
The home appliance segment is believed to be INR 13,000 Cr. market and has grown on an average of five per cent in last seven years.
It has established a network of 80-100 distributors and around 6,000 dealers to have a pan-India presence of Kaden.
“We would also expand in the online segment and the modern trade format stores,” added Syal.
Presently, Kaden is sourcing around half of its range from domestic market and has plans to increase the ratio further to be more competitive in the market.
“We are aiming for 100 per cent locally manufactured and designed products. We are starting with 50 per cent of the products and hoping to increase to 80 per cent by the end of this year,” he added.