India to become Kohler’s 3rd largest market by 2024, says David Kohler

economictimes.indiatimes.com:

bathroom products company Kohler and is likely to become its third largest market by 2024, its chair and chief executive officer David Kohler told ET. Currently, India ranks among Kohler’s top five markets. “India has the fastest-growing GDP in the world among major economies.

But for us, it's our fastest-growing market, and within this market growth, we are growing twice as fast,” Kohler said. “With the rise of the middle class and increased purchasing power for household products over the last decade, along with its anticipated continuation, I believe we are in a strong position as a premium player,” he added. While the United States and China remain the company’s largest markets, there are plans to increase manufacturing capacity in India as well.

“Growth in China has decelerated, leading to a noticeable disparity in growth rates between India and China. We anticipate this trend to persist, considering China's projected more restrained growth trajectory,” Kohler said. The business has benefitted from the impact of Covid-19, with an uptick in home sales.

“People have recognised the significance of investing in their homes, and there is now a heightened willingness to allocate more resources towards enhancing their living spaces and creating richer experiences. We are observing a fresh surge in interest toward expanding the dimensions of bathrooms,” Kohler said.Kohler India has manufacturing facilities in Gujarat, and plans to expand its faucet manufacturing facility in the upcoming year. “We are continuing to invest in showrooms and Kohler experience centres.

Majority of our products are made in India. But we certainly do import some of our products,” Kohler said. The company already exports some products out of India