Hansgrohe Group eyeing 20 pc CAGR over next 5 years in India; to double stores in 2-3 years

We are planning to penetrate deeper in the Indian market, especially in the tier II and III cities, besides strengthening footprint in the big metro cities, Hansgrohe Group CEO Hans Jurgen Kalmbach told PTI.He further stated that looking at the growth momentum, the company is aspiring for a compound annual growth rate CAGR of 20 per cent in India for the next five years.We are present in 58 cities and operate in a franchise model.

German bathroom and kitchen fittings manufacturer Hansgrohe Group is eyeing over 20 per cent annual growth in India over the next five years and planning to double its footprint to over 300 stores in next 2-3 years, a senior company executive said.

''In India, we have witnessed phenomenal growth since 2019. We are looking to scale up our store presence in India to over 300 in the next 2-3 years from the current 142 stores. We are planning to penetrate deeper in the Indian market, especially in the tier II and III cities, besides strengthening footprint in the big metro cities,'' Hansgrohe Group CEO Hans Jurgen Kalmbach told PTI.

He further stated that looking at the growth momentum, the company is aspiring for a compound annual growth rate (CAGR) of 20 per cent in India for the next five years.

''We are present in 58 cities and operate in a franchise model. We were in just 17 cities five years back. Nearly 50 per cent of our growth is from the top 8 cities and the rest from other markets,'' he added.

Hansgrohe Group has luxury brand Axor and premium brand Hansgrohe.

''We are focused on the premium segment, product expansion and geographical expansion,'' he added.

He said, India and China are the key growth drivers for the company in Asia, with China at number one position followed by India, he said.

''Right now India for us is among the top 10 markets...looking at the growth and development India could be among the top five in the next 3-5 years,'' he added.

When asked about plans of acquisitions, Kalmbach said, ''when a company penetrates and expands products, you look at opportunities.'' Talking about the company's sustainable goals, he said, by the end of 2022, all its international sites will have switched to green power and achieve climate neutrality in terms of direct emissions and energy consumed.

He said Hansgrohe is also focused on water conservation and the company already has products like showerheads that use up to 60 per cent less water than conventional products, with the same showering experience.

''We continue to innovate and research alternative, more environment-friendly materials for our products. By 2030, all our products will be equipped with water saving technology,'' Kalmbach added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)