legrand India, subsidiary of the Euro 4.5 billion legrand group, has decided to export products to Asian markets starting 2014 and also plans to enter new markets of Myanmar, Bangladesh and Sri lanka in the near future.
Talking to The Pioneer, Jean Charles Thuard, Managing Director and CEO, legrand India said, “For the first time since we came in India, we plan to start exporting from 2014. We will be exporting to our existing Asian markets along with new markets from India. From 2014, we aim to export 10- 15 per cent in terms of volume.”
Market leader in miniature circuit breaker (MCB), residual current device (RCD) and single phase UPS, legrand India manufactures wiring accessories, security products like cameras and sensors along with lighting equipments, optical cables and heavy duty industrial electric plugs and sockets. With a huge bouquet of products to offer in country, Thuard further added, “India is a key market for the group and currently contributes 4-5 per cent of group’s global revenue. It is of strategic importance and the group plans to invest more in its Indian operations.”
When asked about group’s plan to expand to new markets, Thuard said, “We are currently in developing activities in Myanmar, Bangladesh and Sri lanka. We have a few of our products there and once we think the market is mature enough, we plan to follow acquisition route and enter these markets. We do plan to set up manufacturing facilities there as well.”
The company traditionally was involved more in residential segment but now shifted focus towards the commercial segment. “We have entered in the commercial projects segment simply because we think it is a very strong ventricle and has huge potential.” Along with that, Thurad further added that the protection and energy saving segments would be the next business drivers for the company.
It is not just about expanding manufacturing but the group is always on the search of a value acquisition. In the last couple of decades since legrand has entered the country, 135 companies have joined hands with them. Commenting on acquisitions plans of the group, Thuard said, “We always look for an established medium sized company operating in our categories for acquisition. The only rule we have is that the company has to be the market leader and as far as budget for acquisition goes, the group does not mind spending any amount on the right company.”