Piramal Glass has planned to break ground in Europe, starting with Glass Valley in Eu, France.
The Indian glassmaker has decided to make a name for itself in the competitive luxury bottle market, which is largely occupied by European players. It began its European business in Glass Valley, Eu, France.
Vijay Shah, Managing Director at Piramal Glass, said: “It’s a complex industry with fixed costs and capacities that are therefore very sensitive to variations in demand. Even the main players in the sector have stopped growing.
"The strength of Piramal Glass is to be more flexible. Over the next two years, we will invest 70 million dollars (€60.4 million).”
The perfume division, at its European offices in Eu, generates 34% of its turnover.
He added: “We are leaders in India and Asia, but Europe remains the market more interesting because of the quality of the products.
However, today, this market does not necessarily think of us for new launches because we are too far away. So we are working on technologies like 3D to be closer to our customers.”
Piramal Glass, whose clients include Coty, LVMH and Bogart, seeks to become more anchored in Europe.
He said: “Five or six European manufacturers share the market. These are family companies established for centuries, such as Pochet du Courval, Verrerie Brosse (the subsidiary of Zignago Vetro) or Heinz Glas.”
The glassmaker is also actively seeking to acquire a glassware or decoration plant in Eastern Europe, where labour costs are lower.
Pictured: Vijay Shah, Managing Director at Piramal Glass