PanariaGroup starts up in India

Joint Venture Company (JVC), a company owned 50% by Panariagroup and 50% by Asian Granito India Ltd., one of the largest ceramic companies in India, has been set up in Ahmedabad in the Indian state of Gujarat.

JVC’s products will be sold in the Indian market under the new Bellissimo – STILE ITALIANO brand name owned by Panariagroup and will be aimed at the high end and luxury tile distribution network. They deliver Italian elegance, technology and innovation while meeting the most advanced  needs of Indian consumers.

Specifically the product range consists of a selected offering of Panariagroup’s Italian-manufactured bestselling products along with the collections produced in Asian Granito’s Indian factories under an exclusive contract with support provided by the Panariagroup technical staff. Thanks to Asian Granito’s production capacity of more than 24 million sq.m per year, the new company will be capable of fully meeting demand from the Indian market segment oriented towards luxury and design.

JVC will benefit from Asian Granito’s local knowledge, while all new product development and marketing activities for promoting products and the Bellissimo brand name will be conducted directly by Panariagroup.

With a production of more than 600 million sq.m/year and annual growth rates in excess of 10%, India is the world’s third largest ceramic market in terms of consumption after China and Brazil. Although these areas still account for a limited share of the Group’s total turnover, the Far East, Middle East and Oceania saw more than 25% growth in PanariaGroup’s sales in 2011 with respect to the previous year.