Hansgrohe AG opened a new branch in Brazil this past September as part of the company’s ongoing internationalization strategy. This marks the fourth and last of the BRIC markets (Brazil, Russia, India and China), the company had planned to enter.
“The importance of Brazil, Russia, India and China for the global market and for German exports is growing continually,” said Siegfried Gänßlen, CEO of Hansgrohe AG. “Our expectations are that the impetus for growth in coming years will increasingly come from the BRIC markets and from the so-called ‘Next Eleven.’ We estimate that about 50 percent of Hansgrohe’s growth will be contributed by these emerging markets.”
In Brazil, the construction boom is related, in part, to the numerous building projects occurring in connection with the World Cup, which will take place in the country in 2014. Hansgrohe is currently investing in the expansion of its distribution network in Brazil and also plans to establish a Hansgrohe Aquademy in São Paulo in 2011.
