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Stone Sapphire India to invest Rs 1,000 cr in homewares plant in Gujarat

Monday, 11 Mar 2024
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Toys and stationery manufacturer Stone Sapphire India (SSPL) will invest Rs 1,000 crore to set up a manufacturing facility for homewares in Baroda, Gujarat. The plant will be utilised for the manufacture of small kitchen appliances, metal cookware, and drinkware.

Focused on the homeware segment, it will produce glassware, sippers, dinnerware which will help to augment the production capacity for the Indian market and also increase exports by at least 50 percent. The company owns a land parcel of around 1.3 million sq. ft. in Baroda, which is currently just 40 percent utilised.

The green factory structure is already ready and the company is in talks for the import of machinery. SSPL markets many homeware brands such as USA's Instant Brands (the house of Corelle, Pyrex, Visions, Corning ware), BergHoff (Belgium), LAV ( Turkey), and its own Peggy Oliver. It offers end-to-end support and penetration through its distribution and marketing infrastructure in India

This expansion will help the company increase its turnover to Rs 1,000 crore by 2025-26 from Rs 250 crore at present. SSPL is the sole importer & distributor of global dinnerware giant Corelle USA, spearheading the Indian market share for international brands in the diverse market.

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