India Volume 12

50 SUPERBRANDS 2020 Market There was a time in India when kitchens were built a distance away from the main house – to keep the smoke away. Urban India, with its high-rise apartments and a growing working population, is seeing the entry of smart kitchens, equipped with appliances that help save time, effort and energy. The home appliances segment is one of India’s fastest-growing industries and the kitchen appliances market is expected to grow over 29% between 2015 and 2020. With the electrification of rural areas, the rising influence of social media and the popularity of online sales, the rest of India is fast catching up with urban India and generating almost one-third of the revenue in this segment. Faber is gearing up to expand beyond urban India through increased production and franchisee partnerships. The ever-expanding Indian middle-income segment, with higher disposable incomes and easy access to credit, is eyeing aspirational lifestyles. Retail chains have become the key contributors to raising awareness levels about global trends. Builders of premium residences are designing which includes Sweden, Ukraine, Russia, Italy and France. Achievements Today, Franke Faber is acknowledged as the pioneers and innovators in inventing technologies for kitchen appliances. But when it entered the Indian market in 1997 it was seen as taking a risk. By painting a picture of a smoke-free and grease- free lifestyle, it managed to get a foothold right in the heart of Indian homes – the kitchen. The company’s most commendable achievement has been to single-handedly develop the category for electric chimneys and maintain a leadership position in India, notwithstanding the new entrants in the market. After weathering multiple challenges between 2000 and 2015 that led to accumulated losses and a severe cash crunch, Faber made a powerful contemporary kitchens and fitting them out with built-in gadgets and appliances. Faber’s chimneys and hoods follow sleek lines to fit seamlessly into the new modular kitchens. A decade ago, appliances offerings for the kitchen included an exhaust fan and a cooktop. With heightened awareness of international lifestyles and the advent of modular kitchens, consumers are now replacing these fans with hoods that are more effective and aesthetically appealing. The Indian kitchen hoods market stood at US$ 132 million in 2017 and is projected to grow at a CAGR of over 15%, to reach US$ 313 million by 2023. With an installed base of more than 1.5 million hoods and 70% share of all hoods installed over the last twenty years in India*, Faber, with its technological innovations, is contributing to this growth by producing hoods and chimneys that provide efficient space utilisation, superior functionality and designer looks. Today, with an impressive 24% market share it is the No. 1* hoods brand in India. Not just in India, Faber is a market leader in all the countries it is present as a consumer brand The 8,000-year-old history of Indian cuisine reflects multiple cultural influences – Middle Eastern, Central Asian, Portuguese, Chinese, British and French. Though every region in the country boasts its own ethnic specialities, the one constant factor across them all is the use of spices and oil. Though these add flavour and aroma, they also lead to smoky, smelly kitchens with greasy surfaces. Fortunately, another cultural culinary addition has come to the rescue – Franke Faber chimneys and hoods. Of Italian origin, they are becoming a vital part of Indian kitchens. Faber not only introduced chimneys and hoods in India, but also grew the market to become the country’s reigning No.1 brand in the category with a 70% share of all hoods installed over the last twenty years*.