Chennai, Apr 11 (UNI) FnS (Forks and Spoons) India, a new company which has ventured into the cutlery business, has chalked out plans to capture 25 per cent of the organised cutlery market in the country by the end of this year.
Talking to newspersons here, Mr Adish Jain, Director, FnS India, said there was a Rs 125 crore market for cutlery, but the market was fragmented with very few players in the organised sector.
FnS, which has come out with 10 exclusive designs by leading designers in Italy, France and Scandinavia, proposed to sell 20 lakh units of cutlery (worth Rs six crore) in the first year and 50 lakh units (worth Rs 20 crore) in five years.
The company would roll out the brand in five lakh plus towns through a strong 2000 retail outlet network, he said, adding, in five years, the company would capture 50 per cent market share.
Of the ten designs in cutlery, seven were being manufactured in China in two manufacturing facilities and three in India, he said.
The cutlery collections would be available in sets of 18, 24 and 26 pieces and the range was priced between Rs 500 to Rs 6000. The range would be available in all leading lifestyle stores, super markets and crockery and utensils stores, he added.
'We believe there is more to cutlery than just forks and spoons.
While crockery has seen remarkable innovation and experimentation in terms of bold designs and new material, cutlery design has remained more or less the same over the years,' he said.
The company proposed to bring out new designs, which included a fork cum spoon for eating snacks, cystal studded and silver lined cutlery in the coming years. The company had so far invested Rs three crore in R and D, design, inventory and advertisement, he added.
UNI WS AA 1557