Mieles home appliances targets real estate projects

Having entered the Indian market in 2009, Miele, the three-billion-Euro German home appliances maker, has been able, till now, to focus on retail sales. But it expects luxury apartment projects to make up for the largest chunk of its business in five years.

Miele India Managing Director Dhananjay Chaturvedi said that the company's business is divided into retail sales, professional sales and project sales. Retail, including sales to individual customers of modular kitchens designed by kitchen studios, architects and designers, currently contributes 85 per cent of our business. The rest comes from professional sales to hospitals, pharma companies and garment exporters.

He said that the company has been doing the background work for the project sales and the first luxury apartment project which incorporates Miele products is getting completed this July. The 22-luxury apartment project by the Choice group in Kochi will be a fully furnished project with built-in home appliances. Miele has signed up for 17 such projects and has a project pipeline of Rs 500 crore.