Jaquar will open 15 stores globally targeting US $1 bn turnover by 2022
Jaquar is expecting a turnover for Rs 3,500 this fiscal and is expecting to cross Rs 5,000 crore by 2020. Mehra said: “Total turnover of Jaquar Group by 2022 would be US $1 billion.” Besides bathing segment, Jaquar is also in the lighting section andDecember 05, 2017 | comments ( 0 ) |
Jaquar Group which is a major manufacturer of bath fittings and sanitary ware is eyeing US $1 billion turnover by 2022, as the company is expanding globally. According to a news agency report, The company, which aspires to be a global brand in the segment, is in the process of opening 15 exclusive brand showroom ‘Jaquar world’ across the globe.
Jaquar has established its presence in around 40 countries, is expecting over three-fold jump in its international sales to US $50 million in FY 2018-19. “Our aim and vision is to make it to a global brand in our segment and in order to present the brand in the right manner, we have initiated concept of Jaquar world,” Group Director and Promoter, Jaquar, Rajesh Mehra recently announced.
The company is planning to set showroom of its brand and products having products from its premium brand Jaquar and luxury brand Artize in 5,000 to 6,000 sq. feet area in collaboration with its country partners. “We are already operating four at — Dubai, Vietnam, Singapore and Addis Ababa, Ethiopia as 15 such show rooms are under execution at different stages,” as per Mehra. The other countries include – Tunisia, South Africa, Iran, Tanzania, Malaysia, Sri Lanka, Guinea, Nigeria, Uganda and Ivory Coast.
“Our major focus is now to expand and take this brand to the global market and we are working on the overseas market in the last few years and we are happy with the response we are getting in those territories,” Mehra said.
“We want to go one by one. At the moment we are strengthening our portfolio because country to country we have different requirements,” he told PTI. The company will eventually follow the hub spoke model in the overseas market. “Dealers and distributors would create a mini ‘Jaquar world’ world, which would be called as Jaquar partners, which would be in shop-in-shop concept,” Mehra announced.
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