Bajaj Electricals, Italy`s Nardi tie up to launch new brand

To introduce a range of premium kitchen products. Lighting products and appliances maker Bajaj Electricals is targeting the premium Indian home appliances market. The company has entered into a strategic alliance with Italy-based Nardi Elettrodomestici Spa to launch Bajaj Nardi brand of home appliances in India.

The association will enable Bajaj Electricals to widen its product basket to premium kitchen products, address the growing built-in appliances and modular kitchen market in India. With presence in 80 countries, Nardi has 40 per cent market share of the competitive Italian home appliances market.R Ramkrishnan, executive director, Bajaj Electricals, said, “Nardi’s technological expertise and insights of the international markets will help Bajaj in expanding the offering. The company will introduce customised products for the Indian market that will be manufactured in Italy in the first phase.”

Initially, Bajaj Nardi will launch the range of hobs, cooktops and chimneys followed by built-in ovens, dish washers amongst others. Marco Nardi, chairman, Nardi Elettrodomestici Spa said, “India has potential to become double than the European market. Our main objective will be the modular kitchen and product ranges like hobs and hoots.” Ramkrishnan said that Bajaj Nardi is eyeing 25 per cent market share of the premium gas hobs and chimney market. According to the company executives, the Indian home appliances market is pegged at Rs 4,000 crore with brown goods segment largely dominated by the unorganised players.

The company plans to distribute Bajaj Nardi brand through about 8,000 out of 25,000 of its existing distribution dealers and make its presence in the specialised retail stores. The Nardi partnership is estimated to boost the topline of the Bajaj’s appliances business. Last year, the company’s appliances operations registered a turnover of Rs 375 crore and is expected to touch Rs 501 crore in FY2009.