New Delhi, Oct 10 (UNI) Italy-based home ware products maker, Fratelli Guzzini today entered the Indian market and plans to invest about Rs 25 crore in the next five years.
The company has joined hands with Eurolite for marketing and distribution of its products.
''We see a huge potential in India and will expand here through shop-in-shop format, initially we will infuse Rs 25 crore for the roll out,'' company's President Domenico Guzzinni told reporters here.
Targeting the premium segment, the company will primarily focus in the northern region including Chandigarh, Delhi and Ludhiana.
''We are currently in talks with 8-10 retail chains, to showcase our products, Mr Guzzini said.
He further added that the company aims to increase its presence in 500 retail stores across the country in the next two years.
''Fratelli has a strong presence across the globe and is poised to make its present sales in India through marketing agreement with us,'' Eurolite Director Aakash Kakkar said.
''We have already initiated talks with Shoppers' Stop for selling its products,'' he added.
The company's products will be available through shop-in-shop counters in large formats retail stores and shopping arcades.
The company has a turnover of 330 million Euros in 2006-07 and is targeting 368 million Euros in 2007-08. The y-o-y growth of the company is 25 per cent.
The price range of Guzzinni products including containers, utensils, varies from Rs 6,500-2,500.