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Godrej Locks eyes Rs 100 crore revenue from its kitchen systems business
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Thursday, 25 February, 2021, 13 : 00 PM [IST]
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Our Bureau, Bengaluru
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Godrej and Boyce, the flagship company of the Godrej group reported that its business unit Godrej Locks and Architectural Fittings and Systems, is eyeing a revenue of Rs 100 crore from its Godrej Kitchen Fittings and Systems business, in the next five years. The company has launched SKIDO- Smart Kitchen Drawers and Organisers, an innovative range of smart kitchen storage solutions. To meet the unique requirements of the Indian kitchen, the company curated SKIDO which is ‘Designed in India and made for India’. The range has eight products including kitchen drawers and dedicated organisers for cutlery, cup and saucer, wok, fry pan, thalis, containers, and jars and bottles.
It is an outcome of extensive research conducted by the company to study Indian kitchens and the different style of cooking. The insights led the company to create the range of innovative storage solutions that make the lives of kitchen users easier and better. The company aims to reduce dependence on western solutions which were the only options consumers had, and offer customised solutions for Indian kitchen spaces. The storage solutions are convenient to install, easy-to-carry and are multi-functional.
Shyam Motwani, EVP and business head, Godrej Locks and Architectural Fittings and Systems, said, “The Indian modular kitchen business is valued at Rs 2,500 crore and is projected to grow at a CAGR of over 27 per cent during 2019-2024. We see tremendous growth potential in this segment considering that 4 per cent of our total sales were generated from this segment last year. In the next few years, our strategic focus would be to achieve Rs 100 crore revenue from this segment. We have witnessed a renewed demand in kitchen accessories given that modern Indian families are now using their kitchen more than ever and looking for effective solutions. This demand will be a definitive growth driver.”
The company has been present in the Kitchen Systems category since 2015. Under this, the company offers various products like Ergo Drawers, Wire Baskets, Corner Solutions, Tall Units, Soft Pro Systems, Drawer Channels, and Hinges. The brand is the latest offering under this segment. It starts at Rs 15000-20000 per set and will be available across general trade and hardware.
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