MUMBAI: BSH Home Appliances Group, the German owner of kitchen and home electronics brands Bosch, Siemens and Gaggenau, aims to double its revenue from premium Siemens products this year, top company executives told Mint in an interview.
“The way Indian customers think about ‘premium’ is not very different from those in other markets,” said Klaus Karl, executive vice president of BSH Home Appliances Group. “But the maturity level is different here. So that comes with a potential to grow, from our perspective. In Europe, the growth in the premium segment is much less, if at all, because there is a saturation level there already. Besides, there is a hunger for innovation in India.”
Siemens, which sells appliances for cooking, laundry, refrigeration and dishwashing, as well as espresso machines and vacuum cleaners, accounts for 20% of BSH Group’s India revenue.
According to the latest available financials sourced from research firm Tracxn, BSH Household Appliances Manufacturing reported revenue of ₹2,325 crore in FY25, up 12%, with a loss after tax of ₹267 crore.
Siemens is scaling up from 24 exclusive brand stores to 40 by the end of this year and 100 in the next 3-4 years, said Emalda Philip, head of sales at BSH Home Appliances India.
“We are also appointing new kitchen dealers, and our target is from 150 dealers today to reaching almost 250 this year itself,” she said.
Siemens is opening stores in some smaller cities for the first time, including Lucknow and Indore.
“Three years back, just the top three cities were contributing 80% of [Siemens’] sales,” Philip added. “Now we are seeing that contribution has come down to 40%.”
India revenue share
BSH separated India from its emerging markets business into a standalone business unit with its own country board earlier this year. However, India still contributes less than 10% of the German appliance maker’s global revenue, much of it coming from its mass appeal brand Bosch, which sells entry-level refrigerators, dishwashers and washing machines. It launched air fryers last year. Gaggenau is the company’s luxury appliances brand targeting ultra-high net worth families.
On average, Siemens contributes about a third of BSH’s total revenue worldwide with a much higher share of sales in the European markets, Karl said.
“What we observe is that habits travel,” Karl said. “Twenty years ago, having a coffee machine was a European thing, and even in Europe, it was not very evenly spread. Now, you see coffee habits traveling to China and India. So, consumer expectations are changing and rising too.”
BSH hopes to push Siemens’ sales in India with a range of high-end appliances including built-in coffee makers and cavity ovens fitted with cameras. Cavity ovens – built into a kitchen – traditionally make up half of Siemens’ sales worldwide.
India’s consumer durables and home appliances have struggled with weak demand despite a cut in goods and services tax rates on air-conditioners and dishwashers last September.
“Overall demand is improving but remains uneven, with growth increasingly driven by premiumization and financing rather than broad-based volume expansion,” analysts at Antique Stock Broking said in a note on the industry in April.
While large appliances, especially air-conditioners, struggle with unpredictable weather patterns, kitchen and other small domestic appliances grew steadily in FY26 due to new product launches, analysts at brokerage firm Nuvama Institutional Equities wrote in a note this month.
“Large appliances reported a muted quarter (+4% YoY) due to weak consumer demand and uneven summer, particularly in South India… and high Q4FY25 base,” they said in the note. “Small appliances delivered stronger 11% growth YoY… cooling products remained under pressure.”