Laurent & Benon Group, which has interests in sectors ranging from hospitality to shipping solutions, has forayed into consumer durable space with brand Kaden and is expecting a sales of Rs 200 crore in next two years. The company would have its presence in the premium home appliances category and would cater to the customers in Kitchen, homecare and heating segments. “We are aiming to have a sales of Rs 200 crore in next two years. This year, we would have around Rs 80 crore sales from the segment,” said Laurent & Benon Group CEO Aman Syal. The company has invested Rs 40 crore to set up R&D facility at Gurugram, which would help it to introduce India specific consumer durable product and enhance its portfolio. The home appliance segment is believed to be Rs 13,000 crore market and has grown on an average of 5 per cent in last seven years.
“We would spend around Rs 40 crore in next six months in branding using both above the line (ATL) and below the line (BTL) advertising. We would also spend on digital platforms,” he said. It has established a network of 80-100 distributors and around 6,000 dealers to have a pan India presence of Kaden. “We would also expand in the online segment and the modern trade format stores,” said Syal. Presently, Kaden is sourcing around half of its range from domestic market and has plans to increase the ratio further to be more competitive in the market. “We are aiming for 100 per cent locally manufactured and designed products and we are starting with 50 per cent of the products and hoping to increase to 80 per cent by the end of this year,” he added. Laurent & Benon Group operates in hospitality, human resources, outsourcing solutions, shipping solutions and real estate.