Home appliances giant enters India

NEW DELHI, APR 11: The 1.5 billion dollar French home appliances major Moulinex today announced its foray into the Indian market by signing a memorandum of understanding (MoU) with Gravs Appliances for distribution and marketing of its products here.

Moulinex, which is aiming for Rs 100 crore turnover over the next three years, will launch eight products within the first year of Indian operations. The French major has announced its Indian entry after studying the market here for four years and scouting for a suitable Indian partner.

"We have signed the MoU for marketing Moulinex’s food processors, microwave ovens, mixer grinders and toasters in India and a formal announcement will be made next month," Gravs Appliances’ managing director G M Gupta said here today. Moulinex has also agreed to provide its brand name to radiant heaters manufactured at Gravs’ facility here.