‘Sanitaryware cos bringing in more wellness products’
Kochi, August 04, 2018: Indians are now spending more time in their restrooms, thanks to the significant transformation taking place in bathroom space where wellness products rule the show.
Sandip Somany, Vice-Chairman and Managing Director, HSIL Ltd, the makers of Hindware brand, said that the average time spend in bathrooms has gone up to 40-50 minutes from 5-10 minutes. This has induced sanitary-ware companies to introduce more wellness products. The ₹300 crore market is growing at 30-35 per cent.
He attributed the growth to introduction of several wellness systems such as high quality bathtubs, jacuzzi, shower area and high pressure steams. Earlier, the wellness products were considered a luxury, but now a renovated loo has turned out to be an essential part of the house. Market research reveals that bathrooms are the only place where people can spend without getting disturbed by mobiles or tablets.
According to Somany, the retail industry is in a state of transformation. Consumers are increasingly looking out for value added experiences.
Somany who was in Kochi for the inauguration of Lacasa store, told BusinessLine that Swachh Bharat programme is an impetus for the growth of the sanitary-ware industry as the campaign encouraged people to construct toilets according to the reports published in thehindubusinessline.com.
Tax reforms
The sanitary-ware and faucet & shower together constitutes ₹13,000 crore market and the industry is growing at 12 per cent. “The GST is behind the industry and the tax reforms have brought transparency and a level playing field. Kerala is among the key markets in India, where the State contributes 6 per cent to the company’s ₹1300 crore building material market,” he said adding that the company aims to double it in the next three years.
