Monday, December 16, 2013: Bosch India has launched its very first home appliance store in Bengaluru, marking its entry into the consumer retail space. Infact, this is also the company’s first retail store in the world.
Michael Steinborn, director, head of business development Asia, Bosch and Siemens Home Appliances Group told TOI, “India is a very different market where you have this concept of independent brand stores. And this concept of exclusive brand stores for Bosch is unique globally.” For the uninitiated, BSH is the joint venture between Bosch and Siemens.
The company has plans to open 10 retail stores by the end of next year. These will be located in Bengaluru, Mumbai, Chennai, Pune and Delhi. The spokesperson shared that the company is planning to tap the premium end of the market, carrying a 10 per cent to 15 per cent premium over its competitors.
Last year, Bosch had announced an investment of around Euro 50 million to set up a manufacturing facility in Chennai for its consumer retail business, which would be operational by the end of the next year, TOI reported.
“On a global level, this is the first store where Bosch home appliances, power tools and security solutions will be retailed under one roof,” said Vijay Pandey, VP, Power Tools Division told TOI.
