Miele to focus on tier II markets in India
In a recent announcement, German high-end domestic appliances manufacturer Miele has disclosed that its key focus area in India will be tier II markets.
According to the details shared by Miele India’s Managing Director Rana Pratap Singh, the tier II markets which the company plans to foray into by the end of 2014 include Chandigarh, Jaipur, Indore, Raipur, and Coimbatore.
Singh also added that the company has plans underway to partner with the luxury modular kitchen brands, for displaying the Miele range of built-in appliances in their shop floors at tier II cities.
With Miele currently having a total of 40 point of sales in India, the company’s planned expansion in tier II cities will result in the expansion of its sales outlets to 45 by the end of this year.
In addition to the expansion in tier II markets, Miele is also hopeful that 50 percent of its revenue in the coming years will accrue from its development business, in which realty developers will place its high-end product range in luxury apartments.
Towards that end, Singh said: “In next five years, we are expecting 50 per cent of our earning would come from the developmental projects as the sector is picking up after the new government has come. In next 2 years, it would be 30 per cent.
Source – The Economic Times
