Hindware opens first store in south India

June 16th, 2011 - 8:47 pm ICT by IANS  

Hyderabad, June 16 (IANS) Home interiors company Hindware Home Retail Limited Thursday forayed into south India with the launch of its first mega home store in Hyderabad.

The ‘EVOK’ store, spread over 10,000 sq ft in the posh Jubliee Hills, provides complete home interior solutions to retail, project and institutional customers.

Hindware’s chief operating officer D.K. Jairath told reporters that it was the 11th store of the company, which launched its operations in 2008 in north India and later extended to west India.

“South India will be our biggest market due its sheer size,” he said.

Another EVOK mega home store will come up in Hyderabad, while three to four stores are planned in Bangalore, two in Chennai and one each in Coimbatore, Cochin and Visakhapatnam.

Hindware plans to open its 12th store in Ludhiana next month.

“We will roll out eight more stores during the current financial year,” Jairath said.

The firm, a 100 percent subsidiary of HSIL Ltd (formerly Hindustan Sanitaryware and Industries Ltd), plans to have a total of 45 stores by 2014 with an investment outplay of Rs.250 crore.

During the current financial year, it clocked revenues of Rs.110 crore and has set a target of Rs.400 crore by 2014.

EVOK mega home store offers over 16,000 lifestyle products like home furniture, soft furnishings, home decor, accessories, modular kitchens, laminated floorings, bath fittings and lightings.

The firm sources 70 percent of its products from south east Asia and Europe.

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