Kochi, Sep 17 (UNI) Kitchen appliances major TTK Prestige, which forayed into the modular kitchen segment last year, today said it plans an aggressive expansion next year by opening at least 15 modular 'kitchen boutiques', primarily in the southern cities.
Addressing a press conference here to announce the opening of three of its kitchen boutiques in Kerala -- one each in Kochi, Thiruvananthapuram and Kottayam -- company Executive Vice-President (Marketing) Chandru Kalro said the business done by the two boutiques in Bangalore, which opened five months ago, had surpassed their expectations.
Stating that the two outlets in Bangalore had installed 150 kitchens in a short span, Mr Kalro said the company expected each of the three stores in Kerala to instal 12 to 13 kitchens per month.
Describing the showroom in Kochi as among the company's largest so far, Mr Kalro said the the prestige modular kitchen range was priced at around Rs one lakh and above.
Explaining the business model adopted by the company for its latest venture, he said that it was fully franchised out. The investment in each store was about Rs 50 lakh.
Offering over 1,000 options in colours, designs and materials, including hard wood, the store in Kochi was equipped with a full-fledged design studio that would allow the customer to get a look and feel of each kitchen.
TTK Prestige, which had a turnover of Rs 340 crore last year, was targeting about Rs 380 crore to Rs 400 crore this year, he said.
While pressure cookers accounted for almost 55 per cent of the turnover, cookware contributed 17 per cent and gas stoves and mixer grinders ten per cent each.
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