Mumbai, Nov 13 (UNI) The Lighting and Consumer Care business of IT major Wipro would invest Rs 100 crore this fiscal to expand its various businesses across the country.
Wipro Vice President for Consumer care and Lighting Parag Kulkarni, who is also looking after furniture business, told newsmen here that the investment included a new furniture unit, being built at the Wipro plant in Waluj in Aurangabad, Maharashtra. He, however, did not disclose the quantum of investment.
Mr Kulkarni was here for the launch of Wipro's premium furniture product I'M, a new age premium Office Furniture.
He said the furniture business of Wipro had been growing at over 50 per cent annually during the last four years. He said nearly 30 per cent of the Rs 1,000 crore market for branded furniture came from the premium segment, which was imported mostly.
The Company aimed to capture this market with competitive pricing. The product would be marketed mainly in Mumbai and Delhi regions were the demand for such premium furniture was very high, he added.
The I'M design was the first of its kind designed office furniture in the country using leg and beam-based system. The Company had already got orders from six companies. The furniture business currently contributed to ten per cent of Consumer Care and Lighting business of Wipro, he said.
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