Italy’s Novellini to invest in $2.8 mn in Indian market

June 15th, 2009 - 8:01 pm ICT by IANS  

Ahmedabad, June 15 (IANS) Italian premium wellness brand Novellini will pump in 2 million euros (Rs.133 million/$2.8 million) over the next three years to market its product range in India, its chief executive and co-owner Marco Novellini said here Monday.
Novellini has tied up with the city-based Cera Sanitaryware to market its products such as shower enclosures, steam cubicles and hydro massage bath tubs in India.

The companies will jointly open exclusive showrooms across the country to sell these products, Novellini told reporters after opening such a showroom here.

He said eight more outlets would be opened in major cities in three months.

Cera would also invest 2 million euros over a period of three years to promote and market the Novellini brand.

Novellini SpA achieved a turnover of 200 million euros (about Rs.1,300 crore) in 2008, registering a growth of 10 percent despite a recession in Europe, the chief executive said.

Vidush Somany, executive director of Cera Sanitaryware, termed the partnership as a “perfect brand fit”.

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