Etron with Universal Impex to invest $ 2mln by 2008

New Delhi, Feb 16 (UNI) In a bid to tap the 250 million dollars Indian hair grooming market, US-based Etron together with its Indian partner Universal Impex will invest 2 million dollars over the next two year.

In this direction, Etron today entered into a 50:50 joint venture with Universal Impex.

Both the parnters will pump in one million dollars each, a statement said.

With the growth in rural economy and the semi-urban market, ETRON India is eyeing to target the tier-II and tier-III cities of the country and in due course capture 20 per cent market share of this industry by the end of 2008, it added.

Clippers, Trimmers, Curling tongs, Straightners and Hairdryers are some of the premium products of Etron.

Etron has put forth a modest target of 15 million dollars by 2008 and sales volume to exceed over 300,000 units for clippers and trimmers alone.

UNI