New Delhi, April 13 (IANS) Germany-based high-end domestic appliances maker Miele would invest around Rs.100 crore on expanding its presence in India, mostly in tier-2 cities like Raipur, Indore and Coimbatore, a top company official said.
Managing director of Miele India Dhananjay Chaturvedi said the company expects strong growth in Indian markets in the coming years and has outlined an aggressive expansion plan to cater to growing demand.
"We started in India in late 2009. Our sales are in high double-digit crore. We are expecting it to be in triple-digit crore soon," Chaturvedi told IANS.
However, he declined to give exact sales figure, saying the company does not disclose country-specific figures.
Miele, headquartered at Gütersloh, in Germany, is the global leader in the production of premium domestic appliances. Its global revenue was 3.15 billion euro ($4.37 billion) last year.
The company entered the Indian market in October 2009 through a fully-owned subsidiary Miele India Private Limited, headquartered in the national capital. It has expanded operations in seven major cities including Mumbai, Chennai, Hyderabad, Bangalore, Pune and Surat.
Chaturvedi said that enthused by strong demand from across the country, the company has decided to expand in prominent tier-2 cities as well.
He said Miele has tied up with several corporates and developers and has received orders worth Rs.550 crore that needed to be delivered in the next two-three years.
Miele has also introduced a range of new products in Indian markets to cater to the growing demand for high-end domestic appliances.
The company has introduced a new range of products called Generation 6000 that are user-friendly, elegantly designed and can be customised as per customer's personal preferences.
The new product range includes ovens, microwaves, coffee machines and dishwashers.
"With the launch of this new generation of smart appliances, Miele has taken a big leap in maintaining itself ahead of its competition," said Chaturvedi.
"With every product, Miele nudges new frontiers and with Generation 6000 again we stand true to our lifelong promise of strengthening the faith of our awestruck customers in us," he added.
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