Artemide to triple revenues by 2009

New Delhi, Feb 24 (UNI) Italian manufacturer and supplier of lighting products, Artemide, expects its revenues in the Indian market to triple by 2009 end from the current 3,00,000 euros.

''Our revenue stood at 3,00,000 euros in India. We expect it to triple by the end of 2009,'' Artemide Director Alessandro Paolini told UNI.

The products will be available in the country through Jaquar.

''We agreed on being the exclusive distributers of Artemide in the country. We will leverage our distribution chain, while they help us in entering the lighting segment,'' said Jaquar Business Head (Lighting Division) Sudhir Pasricha.

Jaquar is looking at a 10-15 per cent market share in the lighting segment by 2010.

''We will have the stores displaying the lighting products.

By year-end, we expect to have about five stores ready. The brand will be visible in 23 stores,'' Mr Pasricha said.

We are also looking at establishing channel partners for our lighting products,'' he added.

When asked if Jaquar was also looking at bringing out lighting products under its label, Mr Pasricha said, ''There is no need to reinvent the wheel. When we can collaborate with the masters, why should we look at manufacturing these ourselves?'' Artemide has seven manufacturing units in Europe and caters to Europe, the US and Asia. Talking about setting up manufacturing base in the country, Mr Paolini said it was too early to predict anything. ''We can look at it only when we start getting more business out of the country, of which I am confident,'' he added.

Jaquar has also partnered with Austria-based Strass (Crystals from Swarovski) and Holtkotter (Germany).

''We have been a leader in bath fitting accessories, and this is a new vertical that we felt we were missing in,'' Mr Pasricha said.

Artemide group is one of the world leaders in the sector of high-end residential and professional illumination.

Strass has a range of lighting with the finest Swarovski crystals, while Holtkotter is a renowned and internationally acclaimed chandeliers and lamps maker from Germany.

UNI SR KD RK2010