TTK Prestige to enter European Markets

The Dollar Business Bureau

TTK Prestige group on Tuesday announced that they are launching its kitchen appliances products in the European market through Horwood Homewares.

India’s largest kitchen appliance group had acquired Horwood Homeware earlier this month as a part of its global expansion strategy. This acquisition has helped the TTK group to gain access to more than 1000 UK table and cookware retail suppliers.

The company is planning to export the kitchen and cookware appliances into the European market later this year. Chandru Karlo, Managing Director of the company said that the Horwood Homeware team is coming to India to discuss and strategize its export plans.

The TTK Prestige group have also planned to make inroads into the home cleaning sector, under the Prestige home clean brand, in the Indian market. The group has fixed the size of the home cleaning market at Rs.2,500 crore and the market size of the same is growing at a rate of 15-20% annually. The products include vacuum cleaners-cum- floor polishers, electric mops and all- purpose steam cleaners. These products have been on a trial run in Delhi, Chennai and Bengaluru.

During the launch of the products, Jagannathan, Chairman of TTK Prestige said that the expansion into the home cleaning market is expected to contribute to about 5 percent
of the company’s revenue for the period 2016-17. They are also planning to retail the products through 50,000 retail shops across the country including 571 smart kitchen outlets. Chandru Karlo said that the products will also be available through e-commerce channels and also through the company’s website.

For the year ended March 2015, the company’s revenue stood at Rs1,338 crores.