Panariagroup Industries Ceramiche S.p.A. of Italy has joined hands with India’s leading tiles maker, Asian Granito India Ltd, to form a new 50:50 joint venture company, Panaria Asian Pvt. Ltd, to tap the high-end luxury tiles market in India. This new JV’s products will be sold under the new brand ‘Bellissimo – STILE ITALIANO’ to reflect Italian elegance, technology and innovation. It plans to invest Rs 100 crore over the next three to five years in manufacturing as well as setting up a nation-wide distribution network for luxury tiles.
Welcoming this new initiative, Kamlesh Patel, Chairman of Asian Granito India Ltd said, “The joint venture company headquartered at Ahmedabad, Gujarat will offer products comprising a selected range of Panariagroup's best sellers manufactured in Italy and collections produced in Asian Granito's Indian plants under an exclusivity agreement. It will be supported by Panariagroup's technical team to ensure that touch of Italian style.”
Explaining the focus of this high-end brand, Sanjay Monga, Country Manager – India of Asian Panaria Pvt. Ltd, said, “Bellissimo sets out to be the point of reference for planners, interior designers, architects and end users who are looking for products that combine the highest technical standards and the aesthetics of Italian products, which for centuries have been the symbol of unique excellence throughout the world. With production of over 600 million square metres per year and annual growth rates in double digits, India is the third-largest ceramic tile market in the world in terms of consumer spending.”
Andrea Campaner, Managing Director of Panariagroup India, added, “We want to become the market leader in the Indian luxury ceramic tiles market in the next five years and capture 35 per cent of the total luxury market share in value terms. We will bring in R&D activities, differentiation, focusing on the market and to become a close partner to all the needs and requirements of our clients. Important brands such as Panaria ceramiche, LEA ceramiche and Cotto d’Este will become important assets to create value right from the start. Panariagroup believes strongly in the essential importance of our human resources,that is made up of enthusiasm, entrepreneurial attitude and responsibility with a very strong background. All the main activities and experience will be in place with our strong team of Italian and Indian members to promote our new creation, the BELLISSIMO brand.”