Chennai: The French multinational corporation Saint-Gobain will invest over Rs 2,500 crore in India to expand its home and building sector, a senior official said. "Saint-Gobain would invest more than Rs 2,500 crore in India in the home and building space between FY2022 and FY2023," said Hemant Khurana, Executive Director, Saint-Gobain India. Saint-Gobain recently also announced the purchase of a minority share in Livspace, a company that specialises in home interior design.
In the next three to five years, Saint-Gobain India, the group's Indian subsidiary, aims to earn roughly Rs 1,000 crore from its home solutions division. According to Khurana, the company plans to create more MyHome stores in India in order to generate Rs 1,000 crore in sales from its home solutions division. Kochi, Mumbai, and Chennai are among the cities where the company has opened outlets. He stated that by the end of 2021, the business plans to open over 50 MyHome stores around the country in Tier I, Tier II, and Tier III cities to deliver an exceptional touch-and-feel experience.
"In India, the home category presents a big opportunity for Saint-Gobain. Given the tremendous urbanisation that is yet to transpire, the segment is positioned to grow even quicker, with a market size of more than USD25 billion and a CAGR of 8-10% "According to Khurana.
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