HSIL upbeat on retail

At the launch of their luxury bathroom brand Queo, Sandip Somani, Joint Managing Director, HSIL  shared the reasons for brands success and future plans with Ankur Gaurav.

Ankur Gaurav: Where do you find the upcoming market for HSIL?

Sadip Somani: There is no market which is on a boom today. Be it infrastructure, education, hospitality, all of them are on a downturn. Despite of the difficult times, Hindware is doing well and growing at a rate of 20 per cent.

AG: What is the reason HSIL is still able to achieve a decent growth rate?

SS: HSIL is a very old, trusted and renowned brand. With time we have developed the best distribution channel in the country. This is the reason why we are outperforming the market. The reliability of people on this brand is the secret of our success. Though in good times, people think of going and looking for other brands but when it is about finding the best value for their money, they have chosen Hindware products

AG: You as a group have also entered the home interiors business, how is it going?

SS: Home interiors business is a 100 per cent subsidiary with a brand name EVOK. We are expanding it and do not want to disclose its revenue figures.

AG: What is HSIL's retail presence and what are the expansion plans for that?

SS: HSIL already has 65 boutiques across the country and we are planning to open 50 stores a year. This year we have opened 25 stores till now.

AG: Referring to the same expansion plan, what is the investment planned by you in the near future?

SS: We are planning to bring up the marketing and advertising budget and we aim to spend Rs 60 Crore per year. And apart from this we will also be opening few more plants to increase our capacity.

AG: Please share the plant details that you are planning to set up?

SS: As a company we are planning to spend Rs 250 crore in another two years, Plan includes two plants, one worth Rs 120 Crore Tap plant in Rajasthan which will produce 2.5 million pieces a day. And other in Gujarat which will need Rs 140 Crore and this will be a ceramic plant.

AG: What is HSIL’s role in product innovation?

SS: We very much rely on our product innovation. We were the first to introduce water saving products. We were the first to introduce water-less urinals. We were the first to use. We have come up with a closet which flushesin 1.5 litres of water and is lowest in the world.