Alpharetta, GA Hansgrohe has unveiled an "ambitious" five-year growth plan aimed at serving as part of a blueprint for the company as it strives to reach annual North American revenues of $100 million by 2008.
The growth plan, along with a new Vision Statement for the faucet and shower products manufacturer, was the product of six months of discussion among company managers, and was unveiled by Hansgrohe president Chris Marshall before an assembly of 300 employees near the company's headquarters in Alpharetta, GA.
The $100 million in revenue, if achieved, would represent a 40%
increase over projected sales of $60 million in 2003.
Hansgrohe entered the U.S. market in the late 1980s, and had less than $3 million in U.S. sales only a decade ago. Hansgrohe's German-based parent, Hansgrohe AG, was founded in 1901 and posts annual worldwide revenues of some $400 million, according to the company.
Marshall characterized the 2008 sales goal of $100 million as a "five year promise" to the parent company in return for its multi-million investment in the Alpharetta production facility.
"The North American plumbing segment is a $4.3-billion
industry," Marshall told Hansgrohe employees. "Quite clearly, we
haven't even scratched the surface. There is so much more room to
grow, and with this growth will come great opportunity for all of