Panasonic Corporation announced that it is moving into the home building products and materials market in India on a full scale with the launch of modular kitchen systems in October this year. The company will also open a new model house in Bangalore in the same month in collaboration with the Brigade Group*, one of India’s leading property developers, to offer Panasonic’s ideas for new lifestyles.
With plans to introduce other products following modular kitchens, Panasonic aims for sales of 10 billion yen in the home building products and materials business in India in the fiscal year through March 2026.
India’s housing market is expanding as a result of rising income levels and the influx of people into cities. The number of new housing starts amounts to approximately 8 million units a year and the demand is expected to continue growing particularly in urban areas.
In response to such brisk demand, Panasonic will open a model house that integrates its advanced technologies accumulated in the field of home building products and materials with the Brigade Group’s expertise and experiences in housing development matched to the needs of the people in India, as a springboard for entry into the Indian market for home building products and materials.
Panasonic is planning to release its high-end “L-class” modular kitchen system first and then introduce interior doors, toilets and other equipment according to the market needs in India.
The model house will be three-storied, with each floor focused on proposing an “active life,” “relaxed life” and “future life” for professionals such as architects, interior designers and developers.
Panasonic will continue to propose comfortable living environments and new lifestyles, and contribute to creating a more comfortable and secure society by expanding the home building products and materials business in India.
*The Brigade Group is one of India’s leading property developers based in Bangalore. Since its founding in 1986, Brigade has been involved in housing and commercial facilities construction, large-scale residential land development, city re-development and resort development.
About Panasonic
Panasonic Corporation is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, and B2B businesses. Celebrating its 100th anniversary in 2018, the company has expanded globally and now operates 591 subsidiaries and 88 associated companies worldwide, recording consolidated net sales of 7.982 trillion yen for the year ended March 31, 2018. Committed to pursuing new value through innovation across divisional lines, the company uses its technologies to create a better life and a better world for its customers. To learn more about Panasonic: https://www.panasonic.com/global