Korean kitchenware major Hanacobi to invest USD 30 M in India

Mumbai, Dec 14 (UNI) The Korean kitchenware major Hanacobi Co Ltd will be investing a sum of USD 30 million in the Indian market within a period of next 10 years.

Launching a range of kitchenware products from the flagship brand of his company, Lock&Lock, Hanobi Co Ltd President Chang Ho Kim told reporters here today ''We've plans to set up our own plant somewhere in India within a period of next three years to cater to the various requirements of Indian consumers''.

Hanacobi is expecting to reach sales of USD 20 million in India by the year 2010 and hence its plans to pump in a fund of USD 30 million within next 10 years in the country, he said.

Some of the company's airtight food containers that were introduced by the actor of ''Jassi Jaisi Koi Nahin'' fame Mona Singh on the occasion include rice and roti container, freezer lock and others, the price range of whose varies between Rs 60 and Rs 1695.

''As a working woman I prefer to carry my home-made foods at the shooting spots and I strongly recommend all the working women like me to use the Lock&Lock products that are not only airtight but also easy to carry'', she said.

Talking about India business plans of the company, company's distributor in the country, Jayesh Dedhia, said ''We're already selling a few of our products through various stores in the metro cities of the country and in Mumbai alone our products are available at stores like Akbar Ali, Magnet and Soham Collection''.

However, we are aiming at achieving the turnover of USD 125 million by next year, he said.

''The prime targets of the company are housewives, working women and working single men'', he said.

''First, the company will be selling its products through cities like Delhi, Mumbai, Chennai, Bangalore and Pune. Soon, it will cover Kolkata, Cochin, Surat, Chandigarh and Goa as well'', he added.

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