The 350 million Euro brand, Elica (www.elica.com) will be spending 5 million euros in the next three years on establishing an India footprint that includes setting up a manufacturing plant in Pune.“India is a very important emerging market of the future for us. We will set up a plant in Pune and will look at getting a 20% market share in the next one year,” Francesco Casoli, chairman, Elica spa told ET.
“This country has a population of 1.2 billion where 3,50,000 chimneys sell every year. The demand in China is for 8,00,000 chimneys a year. So we see better prospects here,” he added.
The kitchen hoods (chimney) market in India is worth Rs 500 crore. Of this, 50% is organized and growing at 20% per annum
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