Pyramis to open 25 showrooms by yr-end; eyes 20% mkt share by 2013

New Delhi, Sept 4 (UNI) Greek firm Pyramis today said it will open 25 exclusive showrooms in the next four months across the metros and major cities in the country to capture a 20 per cent market share of the Rs 20 crore stainless steel sink market.

The company's Indian subsidiary -- Pyramis Marketing India Pvt Ltd (PMIPL) -- has recently established its office in India to provide the kitchen and bathroom solutions, the market for which is growing at 30-40 per cent annually, to the Indian consumer.

''We have set a target of sales target of Rs 50 crore to be achieved in the third year of its operation in the country,'' PMIPL CEO and Managing Director C P Saboo told reporters here.

It also plans to spend about Rs 10 crore on marketing and promotional activities in the country and expects to capture a 10 per cent market share during the first year of its operation.

The Indian subsidiary will also be responsible for expanding the company's network to SAARC countries.

Product portfolio will include complete range of kitchen appliances like hoods, hobs, built-in ovens, cooking range, bio-disposer, kitchen sinks, mini kitchens and pantry and kitchen sink faucets, in addition to a wide range of bathroom products.

The company has subsidiaries in Germany, the UK, Poland, Romania, Russia, Bulgaria, Italy, and United Arab Emirates, among others.

UNI SR SG AS1751