Legrand, the French multinational company into electrical and digital building infrastructure, is planning to tap the potential of Indian market aggressively with a wide range of new products and services and is on the lookout for acquiring more electrical companies and brands in India.
Legrand, which had 5.5 billion euros revenues in 2017, will roll out its internet of things (IoT)-based home and building infrastructure solutions brand 'Eliot' in India by January. The company has opened 'Legrand Innoval experience centres' in Mumbai, Chennai, Ahmadabad and Lucknow to create brand visibility and is soon opening more such centres in Bangalore, Kochi and Dehradun, Benuoit Coquart, CEO, Legrand told Business Today exclusively.
Globally, the company is digitising 40 per cent of its 100-plus product categories. Of them, 30 have already gone digital. The company is acquiring and partnering with suitable technology companies and startups to create the necessary digital eco-system for this transformation in digital home infrastructure. Legrand's comprehensive range of products and systems are used in commercial, residential and industrial buildings and have an accessible market estimated at over euros 100 billion, he said.
Legrand, which came to India with the acquisition of switchgear maker MDS in 1996, had done four more acquisitions in the country - including fuse gear and switch gear maker Indo Asian, the UPS business of Numeric Power Systems and electronic enclosure systems maker Valrack.
"In the last 22 years, our business has grown significantly from Rs 40 crore to over Rs 2300 crore last year and now we sell over 10,000 products in 53 product categories, which shows the significant investments we have made in India, which is the fourth largest market for us after the US, France and Italy," said Benuoit Coquart.
In India, the company has 10 factories, three research and developments centres, offices in 50 cities, 250 sales and service centres and a network of over 1500 dealers and employ around 5,500 people, said Jean Chalres Thuard, CEO and managing director, Legrand India.
"Every year we recruit 400 to 500 people here in India and have retained the identity and brand value of the products and companies that we acquired to make Legrand India a true Indian company. Over 85 per cent of products we sell here are manufactured in India and we export 10 per cent of the production from here," said Benuoit Coquart.
At present, though India contributes only 5 per cent to the global revenues, 15 per cent of Legrand's over 37,000 employees spread over 90 countries are Indians. "India has big potential and the company will continue investing here significantly, including the acquisition of suitable companies that have products and culture that can be integrated and aligned to Legrand's legacy," he said.