Japanese sanitaryware firm plans factory in IndiaAugust 23rd, 2008 - 8:28 pm ICT by IANS
Chennai, Aug 23 (IANS) Japan-based global sanitaryware company Toto Ltd Saturday said it would set up a manufacturing plant in India once its annual sales turnover crosses Rs.7 billion ($162.8 million). “We have 27 plants world over with seven of them being in China. We will set up a plant in India once we get the requisite volumes. The Indian plant would roll out products that could be exported to the Middle East, South East Asian countries and even Japan,” Toto Asia Oceania Ltd president Kazuo Watanabe told IANS on the sidelines of a press meet here Saturday.
At present, the company’s annual sales turnover is Rs.2 billion.
Toto is now selling its products in India that were manufactured in the group’s different plants around the world.
“We are looking at building our brand here and not volumes,” Wantanabe said.
World number one sanitaryware company Roca Sanitario of Spain has already entered the Indian market by acquiring 50 percent stake in Parryware Glamourooms Pvt Ltd in 2006.
Roca hiked its stake in Parryware to 97 percent this year.
According to Wantanabe, Toto would rather prefer setting up its own factory than acquiring any existing company in India.
The company is also planning to expand its retail presence through exclusive showrooms in major metros and tier II cities.
Toto now has 10 exclusive showrooms in the country, and seven more would be added this year.
“We would like to have steady growth and are not bothered about the number of outlets that Roca has here,” Wantanabe said.
According to T. Ebenezar Selvan, Toto regional manager (Tamil Nadu): “The exclusive showrooms in major metros will showcase our entire range whereas the showrooms in small cities will stock mid market products.”
In India Toto has around 50 such stores.
Toto launched its first exclusive showroom in Chennai Saturday.