6 December 2017 08:31 am
Indian bath fittings and sanitary ware products maker Jaquar group is set to open up 5, 000 to 6, 000 square feet exclusive showroom under its ‘Jaquar World’ concept, Indian media reports said.
Along with Sri Lanka, Jaquar is planning to open concept showrooms in Tunisia, South Africa, Iran, Tanzania, Malaysia, Guinea, Nigeria, Uganda and Ivory Coast.
The company already operates four concept stores in Dubai, Vietnam, Singapore and Addis Ababa, Ethiopia.
“Our major focus is now to expand and take this brand to the global market and we are working on the overseas market in the last few years and we are happy with the response we are getting in those territories,” Jaquar Group Director and Promoter Rajesh Mehra was quoted as saying in The Economic Times. Jaquar is eyeing US$ 1 billion turnover by 2022, as the company is expanding its product portfolio and global footprint.
Jaquar, which has presence in around 40 countries, is expecting over three-fold jump in its international sales to US$ 50 million in FY 2018-19 as it plans to consolidate its position there.
Besides bathing segment, Jaquar is also in the lighting section and has a range of LED (light-emitting diode) products.
It has plans to invest INR 150 crore to set up a manufacturing plant in FY 2018-19. It is also investing INR 150 crore for faucets manufacturing plant in Bhiwadi, Rajasthan.
In July last year, Jaquar Group has acquired a majority stake in the South Korea-based Joeyforlife by investing US$ 1.2 million, as part of efforts to expand its business in South Korea and Southeast Asian countries.