BUSINESS
Eureka Forbes had acquired Switzerland-based home appliance firm Lux International and sells its products in 63 countries.
Home appliance maker Eureka Forbes is aiming to more than double its turnover in the next five years to become a billion-dollar entity.
The company, which mainly sells water purifiers, vacuum cleaners and air purifiers, is expanding its dealer network to 25,000 by year-end, from the 17,000 at present, in 3,000-3,200 cities and towns.
"We aim to be a US $1 billion dollar company in the next five years," Eureka Forbes CEO - Direct Sales and Senior VP, Marketing Marzin R Shroff told PTI.
The Shapoorji Pallonji Group company, with a turnover of Rs 3,100 crore, has been posting an annual growth of 15%, with international markets accounting for 30%.
Elaborating, he said the company is keen to tap the market potential of water purifiers, the largest segment that offers faster growth in non-metros than metros.
"We expect that in the next three years, one third of the total sales of water purifiers would come from tier III & IV cities," Shroff said.
The company is also building a channel through which towns with a population of 20,000-1,00,000 and 5,000-20,000 will be covered.
Its water purifier brand Aquaguard has been growing at a rate of 15-18%, with products sold under three sub-brands -- Dr Aquaguard, Aquaguard and AquaSure.
Aquaguard, which was sold only through direct-selling, has also been made available through retail and online since March this year.
On the e-commerce channel, Shroff said: "We are expecting a digital-led business where customers will come through the digital platform, but will close the sale through direct selling. This would contribute up to 40% in the next three years."
He thinks air purifiers, which have been rebranded as 'Aeroguard', as the other segment that can play a significant role in meeting its 5-year target.
"Air purifiers should contribute at least 20% of the sales by 2018. We expect Rs 700 crore sales in air purifiers by 2018," Shroff added.
Currently, the air purifier market in India is less than Rs 100 crore, but is expected to grow rapidly in the next two years.
Eureka Forbes had acquired Switzerland-based home appliance firm Lux International and sells its products in 63 countries.
Darshan case: Karnataka HC reserves order on jailed actor's bail plea
DNA TV Show: Congress’ fresh allegations against SEBI chief Madhabi Puri Buch
Mukesh Ambani acquires another company after 3 years, it manufactures...
Hyderabad: Visually challenged couple lives unaware with son's body for 4 days
Noel Tata makes first major appearance since Ratan Tata's demise, seen at...
J-K: Light snowfall in higher reaches of Kashmir, IMD predicts cloudy weather for...
WATCH: Son gets Rs 3 lakh porn movie offer, his mom's reaction goes viral
Bigg Boss 18: Vivian Dsena's wife Nouran Aly gives stern warning to Karan Veer Mehra, says don't...
Bollywood’s biggest flop sold only 500 tickets, made at Rs 45 cr, it earned only…, it starred…
7th Pay Commission: Diwali GIFT for govt employees of this state, DA hiked by...
Instagram down: Users face issues while sending messages, say, 'Rehne do fir'
Bigg Boss 18: Nyrraa Banerji opens up on her 'love angle' with Shehzada Dhami, says 'both of us...'
Ahead of Diwali, Akshay Kumar donates Rs 10000000 in Ayodhya for...
Dhanteras 2024 Shubh Muhurat: Puja timings, vidhi and what to buy
Mukesh Ambani's company gets RBI approval, set to operate as an online...
Who is the richest kid of Mukesh Ambani and Nita Ambani? Is it Akash, Isha or Anant? Know here
Watch: Amazon Alexa launches Diwali rocket, viral video stuns internet
Dimple Kapadia reacts to being social media savvy like Zeenat Aman: 'If I’ll ever be....'
Amid affair rumours with Abhishek Bachchan, Nimrat Kaur requests everyone to...
Rising Trends In Fertility Due To Environmental Pollution
Andrew Spira's New Book: A Guide To Entrepreneurial Resilience
What Makes Furniture Truly Cosy?
Delhi NCR news: Delhi Police, NCB bust meth lab in Noida, 5 arrested
Good news for Gautam Adani on Dhanteras 2024, his flagship company's profit jumps to Rs...
IND vs NZ: Star bowler called up to India’s squad for 3rd Test, likely to make debut in Mumbai
Meet woman, who cracked UPSC exam on her first attempt at age 23, to become...
Amid Aishwarya Rai-Abhishek Bachchan divorce rumours, know what 'grey divorce' means
IND vs NZ: India’s another landmark record at stake in Mumbai Test vs New Zealand
Who is Sheikh Naim Qassem, the new chief of Lebanon's Hezbollah?
PM Modi launches health cover for senior citizens; know eligibility, how to apply here
Chhoti Diwali 2024: Know significance of celebration, shubh muhurat, rituals and more
College student jumps from 4th floor of hostel thinking he had...
'Not Saint, Sadhu or...': Jaya Kishori hits back at trolls slamming her for Dior bag
Aishwarya Rai’s remark on divorce plans with Abhishek Bachchan goes viral: ‘We don’t even…’
Sunita Williams sends Diwali wishes from space, here's what she said; watch
Diwali 2024 long weekend: Banks to remain closed for four days in THESE states, full list here
'Monopoly Bachao Syndicate': LoP Rahul Gandhi alleges 'nexus' among Adani Group, BJP and...
Good news for Indians, Russia to offer visa-free travel by...
Big trouble for Gautam Adani, SEBI slaps show-cause notice to Adani Power, shares price fall by...
Two killed, several injured in Metro construction site accident in Patna, probe underway
Mukesh Ambani's BIG Diwali gift, JioFinance app will now let you buy gold for just Rs...
Mukesh Ambani's JioSaavn's festive offer: 3-month subscription for just Rs...
Baba Siddique's son Zeeshan Siddique gets threat message; accused held from Noida
J-K attack: Army dog 'Phantom' dies in anti-terror operation, honoured for sacrifice
Glenn Maxwell reveals Virat Kohli blocked him on Instagram after...
Mukesh Ambani's Diwali gift to Reliance employees is a box of..., watch viral video
Fashion designer Ratul Sood passes away playing golf in Kolkata
UP govt announces big gift ahead of Diwali, all employees of THIS department to be made permanent
How can AI, ML skills help sharpen problem-solving abilities in children?
Kerala: Over 150 injured, 8 critical, in fireworks accident during temple festival
Ratan Tata's Rs 10,000 crore Will: Who gets what? Here's all the details
Delhi-NCR AQI today: Delhi air quality remains 'very poor' ahead of Diwali despite firecracker ban
Ex-Pakistani cricketer takes brutal dig at Rohit Sharma, calls India 'Kagaz se sher aur...'
Is stock market open or closed on Dhanteras? Know details here
Kunal Kamra accepts Bhavish Aggarwal's 'join Ola' offer, has THESE demands
Education ALERT: Avoid these courses at all costs, no job guarantees
Salman Khan can’t take his eyes off Aishwarya Rai in viral video, fans say ‘inki shaadi hoti toh…’
Ahead of Diwali and Chhath Puja, Railways to run 250 special trains from today: Check full list
Israel passes law banning UNRWA operations in country: What does that mean?
Happy Dhanteras 2024: Wishes, WhatsApp messages, quotes, greetings to share with your loved ones
Delhi traffic advisory issued for ‘Run For Unity’ today, check list of routes to avoid here
Amazon Great Indian Festival Sale 2024 ends today, don't miss these fantastic deals