India’s leading kitchen appliance company TTK Prestige Ltd has entered into a joint venture with Germany-based glass producer Schott to launch a range of products in the Rs 1,200 crore induction cooktop market. This is the company’s latest tie-up with an international company. Joint ventures with international companies has been a big growth strategy for the Bangalore-based TTK Prestige.
The company is also in talks with US-based cookware company Meyer and Europe-based Vestergaard Frandsen, a water purifier maker.
TTK Prestige is a part of the Rs 2,500 crore TTK Group. TTK Prestige posted revenues of Rs 1,123 crore in the last fiscal growing at 35% annually.
S. Ravichandran of Prestige talks about the group’s tie up with Schott and what investments it’s looking to make this year.