New Delhi, May 14: Italian firm Okbaby today said it plans to capture more than 25 per cent market share of the baby bath, hygiene and safety segment in the next three years.
''The market is worth about Rs 20 crore and is growing at 25 per cent annually. We expect to capture 25 per cent share of this in the next three years,'' Kraft Too CEO Ajay Chawla told reporters here. Kraft Too has been appointed as the principal distributor in the country. The company will also strengthen its retail presence to be visible at 700 outlets by year-end from the current 65 stores, he added. It has tied up with retail chains like Lifestyle, Odessey and Landmark for this endevour.
''We see a great potential in the segment. We are targeting the middle and the upper class with our products, but we have products at lower costs as well,'' company Consultant (Planning and Communications) Luigi Lodi said.
The product range includes bath tubs, potty trainers, baby seats and are priced between Rs 270-Rs 2,500.
The company will import the products from its facilities in Italy and China. ''We understand the apprehension with China but the products undergo strict checking to ensure their safety,'' Mr Lodi said.
Last year, major toymakers had called off a bulk of orders as large amount of harmful chemicals were found in the products.
Asked if the firm planned on a facility here, Mr Chawla said the option would be looked at once ''economies of scale are achieved''.
The company has a presence in over 40 countries.
Baby products market is a booming business in the country with the total market, including toys and healthcare estimated at 500 million dollars. The market in the toy segment is dominated by Lego, Mattel and Funskool.