Saint-Gobain India, a leading manufacturer of glass and building material, has said that it will invest more than ₹2,500 crore in India in the home and construction space in the next two years while introducing what it calls innovative home solutions range under the brand ‘MyHome’.
“With a market size of more than $25 billion and growing at a CAGR of 8-10 per cent, the home solutions segment is poised to grow even faster given the massive urbanisation that is yet to happen. We are only 32 per cent urbanised in India compared to 62 per cent in China. People are buying larger homes and spending more on their homes. We are intensifying our efforts to grow our home solutions portfolio and also take these solutions to homeowners’ doorsteps through a large field force,” Hemant Khurana, Executive Director, Saint-Gobain India, said in a statement.
The company will be opening 50+ MyHome stores by the end of 2021 across tier-I, tier-II and tier-III cities to provide a touch-and-feel experience. It has set a target of generating up to ₹1,000 crore revenue from the home solutions business in the next 3 to 5 years.
“Towards this, we are heavily investing in building our consumer touchpoints and opening MyHome stores. We have already opened stores in Kochi, Mumbai and Chennai. Saint-Gobain will be investing more than ₹2,500 crore in India between FY22-23 in the home and construction space,” he added.
Fragmented and unorganised
The company is of the view that the home solutions market in India has remained highly fragmented and unorganised due to several complexities. With its all-new concept of MyHome, the company seeks to offer solutions for products including windows, shower cubicles, ceilings, kitchen & wardrobe shutters, roofing products and mirrors.
By providing the entire suite of solutions under one roof, Saint-Gobain aims to create a hassle-free process, while delivering state-of-the-art products and solutions at the end-consumer’s doorstep, said a statement.
As part of the MyHome launch, Saint-Gobain has unveiled its uPVC windows collection, followed by the shower cubicles manufactured with European design and engineering at the company’s ₹100 crore highly automated & digitalised factory.
These solutions are fully customised – the consumers can choose from a combination of different product types, sizes, glazing and accessories to align with the aesthetics of their homes. The shower cubicles range, consisting of glass and hardware along with doorstep measurement and installation, are available in 500+ design options to suit a bathroom of any size and shape, it said.