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India's rapid growth propels Kohler to top three markets, CEO Predicts

2023-08-17

Kohler, the US-based kitchen and bathroom products’ company, is experiencing its most rapid growth in the Indian market, positioning India to become its third-largest market by 2024, according to David Kohler, the company's Chair and CEO.

Currently, India stands among the top five markets for Kohler. David Kohler noted that India boasts the world's swiftest-growing GDP among major economies, and within this context, the company's growth in India is even more remarkable, outpacing the global trend. He attributed this robust expansion to the burgeoning middle class and their increased purchasing power for household goods, a trend expected to continue. This advantageous position has established Kohler as a strong player in the premium market segment.

While the United States and China still constitute the company's primary markets, plans are underway to bolster manufacturing capabilities in India. With China's growth rate slowing down and a noticeable discrepancy in growth rates between India and China, Kohler anticipates this divergence to continue, particularly given China's projected more measured growth trajectory.

The company has been positively impacted by the repercussions of the Covid-19 pandemic, particularly in terms of increased home sales. People have come to recognise the value of investing in their homes, leading to a greater willingness to allocate additional resources towards enhancing living spaces and enriching experiences. Kohler has identified a renewed surge of interest in expanding bathroom dimensions as a result of this trend.

Kohler's manufacturing facilities are currently based in Gujarat, India, and the company has plans to expand its faucet manufacturing unit in the upcoming year.