Versuni India Home Solutions, previously recognized as Philips Domestic Appliances, has introduced its latest production plant in Ahmedabad on Wednesday. This state-of-the-art facility is geared towards producing air fryers, garment steamers, and hand mixers, products that were earlier sourced from overseas.
Covering an expanse of 23,000 square meters, the facility sits on a vast stretch of land, while specifically, the manufacturing edifice occupies 6,800 square meters within this expansive area. In its initial phase, the Ahmedabad division of Versuni is set to manufacture 500,000 air fryers annually, followed by a subsequent phase to introduce 200,000 garment steamers. The capability of this unit is designed to be flexible, allowing for a scaling up to produce up to one million units per year to meet the escalating demands of the market.
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.” Versuni anticipates that through an infusion of investments directed towards enhancing local infrastructure and cultivating avenues for employment, the community is poised to witness the emergence of over 1000 new job opportunities within the upcoming three-year period.
Spanning across diverse fields such as engineering, manufacturing, logistics, quality control, and administrative functions, these positions are envisioned by the company to make a significant impact on the economic prosperity of the region. They aim to cultivate promising employment opportunities and enable individuals to actively participate in fostering Versuni’s success within India, thereby empowering them to contribute meaningfully to the company’s growth. Commenting on the further expectation in the Indian markets, Mr Jong 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 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 capitalize 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 Mr Jong. Gulbahar Taurani, CEO, of Versuni India, said, “Earlier on, we were importing all the air fryers that were being demanded in Indian markets. After this facility, we will not 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.”
Statista’s report forecasts a 5% annual growth rate for the Indian small home appliances market spanning from 2024 to 2028, projecting a remarkable ascent from $19.9 billion in 2023 to a staggering $25.5 billion in 2028. Within this thriving market landscape, Versuni India proudly asserts its leadership, commanding an approximate 20% market share. Notably, in the fiscal year of 2022, Versuni achieved substantial global business success, recording a turnover of €2.6 billion.
