Bosch Power Tools, division of Bosch Group on Friday said it is sees opportunities in the Indian Do It Yourself (DIY) industry and launched its first such store in Bangalore.
The company said that the DIY industry is estimated to have potential of Rs 500-600 crore in the next few years and added that Bosch Power Tools, at present, holds more than 30 per cent market share in professional and DIY tool space.
“DIY Square is our endeavor to start a DIY revolution in India and own the space. We want to reach out to customers and create an environment for them to experience and have fun through the Do-It-Yourself approach,” Bosch Power Tools India Vice-President Vijay Pandey said.
When asked if the Indian customer, who is more used to using the help of carpenters and other such specific professionals, is ready for such an European concept, Pandey said that their research showed that now people want to buy such tools, but do not know where to find them.
The company also plans to open 30-40 such stores throughout the country in the next two year. In the last two years, the company has maintained CAGR of 25 per cent.
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