Hindware to Set up Specialty Stores

To grab the growing market for modular kitchen and wardrobe business, Hindware Home is opting for special stores. "We are setting up small format of 1,000 to 1,200 sqft stores. These stores will offer turnkey services, installations, among others. The stores will offer services to the end users as well as institutional businesses," said company's COO. "The company," he added, "has about six small format stores and is looking to add 18 more in the next two-three years for which we would be investing Rs.30 lakh per store. The aim is to improve our market share from 15-25% in the modular kitchen business." Currently, the company sources 70% of its products from domestic companies and the balance is serviced through imports. The company could also launch on line business in the country.