The company markets its products through its own sales offices in Asia and is investigating in business models to further expand in the Indian market. It is also planning significant investments in the coming year to increase its reach and enhance service.
India—An important market
Speaking at the inauguration of the new facility, Martin Reichenecker, Member of Hoffmann’s Board of Executive Directors, said, “India is one of the most important growth markets for us and it is also important for sourcing. We offer a reliable supply of quality tools along with specific machining expertise. This way, we help Indian manufacturers to raise their productivity. In the future, our investments will see a steady growth and we see good opportunities in becoming an important player, especially in e-commerce in India.”
Pinaki Banerjee, MD, Asia Pacific, Hoffmann Quality Tools—Asia Pacific, said, “We started our operations in India on April 1, 2016 and we are fortunate that we have entered the market when the business sentiment looks positive, manufacturing is growing and FDIs are coming in. Also, whenever a multinational enters the Indian market, they first enter with a dealer network, then open a branch office before finally a subsidiary is established. The way Hoffmann Group has started working in the market by directly setting up a subsidiary makes its commitment clear to the market and to our Indian customers.”
The company is one of the leading system partners in Europe and is directly competing with the best and the biggest in the industry. It markets its own brand, Garant and sources products from the leading manufacturers. With 75,000 products in the catalogue, the company works with roughly 500 suppliers and manufacturers, most of whom are coming from Europe.
“We are here for the long haul. We want to provide the best solution to the customers and help them enhance their productivity and efficiency,” Martin Reichenecker stated. “Apart from that, we are going to introduce ‘e-commerce’ in the Indian market where 75,000 products will be available. Our customers will be able to select the product, check the pricing, integrate it with their ERP system and the product will be delivered within two weeks. This will make the life of a purchase manager hassle-free. We are also known for our excellent logistics services. We deliver almost 60,000 products everyday throughout Europe and would like to replicate the same in the Indian market. Also, we are going to introduce INR pricing in India from January 2018, probably the first overseas company to do so,” concluded Reichenecker.