Versuni India Home Solutions, earlier known as Philips Domestic Appliances, unveiled its new manufacturing facility in Ahmedabad on Wednesday. The new facility will focus on manufacturing of air fryers, garment steamersins and hand mixers. Earlier, these products were being imported from other countries.
Henk de Jong, CEO, Versuni, said, “The facility in Ahmedabad is our second manufacturing unit in India (the first one is in Chennai). We are looking forward to increasing our local manufacturing to 90% of our total products consumed in Indian markets. Currently, around 70% of the products and services that Versuni markets to the consumers in India are manufactured in India only.”
The facility is spread over 23,000 sq meter of land and the manufacturing building spans over 6,800 sq meters of the land.
Commenting on the further expectation in the Indian markets, Henk said, “Recently, Versuni’s Indian business has crossed the UK’s and become the fifth largest market for our products. Given the fact that India has a young and innovative population with a fast moving economy, we have great expectations from India in the coming years.”
“Versuni focuses on the consumer preference and aims to innovate according to consumer needs. We spent around 4% of our budget on research & development (R&D). One of our nine R&D facilities is in India. Initially, we want to capitalise on the demand in the Indian market by manufacturing in India for India. After that, we will look forward to further expansion and exporting our India-manufactured products to the rest of the world,” added the CEO.
Gulbahar Taurani, CEO, Versuni India, said, “Earlier on, we were importing all the air fryers that were being demanded in Indian markets. After this facility, we will have no need to import this product anymore. We are also looking forward to creating excess capacity so that we can think about exporting in the coming years.”
According to a report by Statista, the Indian small home appliances market is expected to have an annual growth rate of 5% between 2024-2028 and will reach to $ 25.5 billion in 2028 from $ 19.9 billion in 2023. Versuni India, with its market share of around 20%, claims to be the leader of small home appliances in India. In FY 2022, Versuni’s global business touched € 2.6 billion.
