US-based Etron in 50:50 JV with Universal Impex

New Delhi, Feb 18 (UNI) In a bid to tap the 250-million-dollar hair grooming market in India, US-based Etron has formed a 50:50 JV with Universal Impex which will focus on Tier-II and Tier-III cities.

Looking at the growth in the rural and semi-urban market, Etron India aims to capture 20 per cent share of the Tier II and III cities, for which both the partners will pump in one million dollars each over the next two years.

Clippers, trimmers, curling tongs, straightners and hairdryers are some of the premium products of Etron.

Etron has put forth a sales target of 15 million dollars by 2008 while the volume is expected to exceed over 3 lakh units for clippers and trimmers alone, it said in a statement.

UNI