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Timbor gets Rs 6cr investment

Eyes high-end kitchen stores; to open 30 such stores in FY 2012-13.

Tags: Timbor Home, Timbor Cucine, IKI Kitchen

May 29, 2012  |  comments ( 0 )  | 
Timbor gets Rs 6cr investment

Ahmedabad-based, Timbor Home has received investment of Rs 6 crore ($1.06 million) from Small Industries Development Bank of India (SIDBI). With the investment, Timbor plans to promote and set up its high-end ‘IKI’ kitchen stores across India in 2012. The money will be utilised to put in place 30 high-end kitchen stores across all the major cities in India during this financial year. These kitchens will be equipped with a world class range of cabinetry, shutters, storage, & hardware, including exclusive handles and special kitchen light fittings. IKI Kitchens will be showcasing Hettich’s award winning Red Dot design and many similar state-of-the-art products.

 

Talking about expansion plans, Anant Maloo, Chairman and MD of Timbor Home Ltd. said, "We are growing our kitchen business through our trade partners and plan to have 300 stores in the next two years, and are also increasing our footprints in the furniture business through large format company owned stores, which we currently have at six locations."

Timbor Home currently has 100 plus ‘Timbor Cucine’ modular kitchen stores, catering to the mass-medium price segment. 

In January 2012, HT Media, along with DB Corp, invested $1.11 million in the company. Times Private Treaties, the private equity arm of Bennett, Coleman & Co. Ltd, had also invested $0.65 million in the firm.


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