German firm Hafele launches Nagold home appliance series in Indian market
18 Jan 2017
Germany-based hardware solutions provider, Hafele's, on Thursday launched its new line of modular kitchen appliance products under the brand, Nagold in the Indian market.
The firm, which first launched its operations in India in 2001, said the Nagold series of home appliances will offer a whole range of built-in kitchen items to the customer that include hobs, microwave, electric ovens, dishwashers and refrigerators.
Nagold is a town in Germany, where Hafale is based.
The range of India-specific products targeted at the upwardly mobile is available at prices ranging from Rs 17,000 for built-in hobs and hoods to Rs 1.25 lakh for refrigerators, said Jurgen Wolf, Managing Director, Hafele India Pvt Ltd.
India's estimated Rs 25,000 home appliances market, has grown at 25 percent on a year on year basis. The mid-segment is estimated to have a size of Rs 500-600 crore and constitutes very few players, Wolf said.
"If there is any one thing Indians love more than their food, it is the cooking. The cooking methods are different and their cleaning needs are different. Grinding, kneading, pounding, scrubbing-food is approached with vigour and passion," explains Wolf, of the reason for coming out with a unique made-for-India range of kitchen appliances.
"It is this market that we are eager to capture," he says.
Early this year, LG electronics, another major player in the home appliance segment, also announced plans to launch India-specific products in the home appliances segment.
According to Wolf, in the past, dishwashers were a difficult category to sell to an Indian consumer. "But today, the scenario has changed," he said.
The change is attributable to the increased awareness and the popularity of cookery shows on TV and tourism, Wolf said, adding these have played a huge part in the shift to perspective and consequently, utilitarian value of the product.
Hafale, which logged a turnover of Rs 270 crores in 2014 in the Indian market, expects the Nagold series to contribute an additional 35 crores to its turnover.
In 2015, the company targets a turnover of around Rs 340 crores for 2015 from the domestic market.
Tags: Hafele, Nagold, kitchen appliances