Godrej Locks and Architectural Fittings and Systems targets 46percent growth in its kitchen fittings segment this festive season
The Company aims to grow Kitchen Fittings to INR 100 crore segment in the next 3-4 years.
Mumbai, December 7, 2021: Godrej & Boyce, the flagship company of Godrej Group, announced that its business unit Godrej Locks & Architectural Fittings and Systems is aiming at a 46% growth for its Kitchen Fittings category this festive season. This is about 19% growth in comparison to the last quarter, with about 26% contribution coming from tier 2-3 markets. Many consumers look at giving their kitchens a festive makeover, as they start making plans for opening their homes to friends and family to celebrate the season together.
The company is estimating a massive uptick in demand and a minimum INR 50 crores sale solely from its Kitchen Fittings segment during this festive season. With evolving buying patterns, consumers are looking for innovative kitchen solutions and are spending considerable time with architects and interior designer to create modular spaces that are customisable and scalable.
Last year saw an increasing trend in many people taking up cooking, as there were restrictions on food delivery services and cooks not allowed to enter buildings. Many were even motivated to cook more at home to create new, healthier dishes, resulting in kitchens becoming more busier than ever. This trend is expected to continue through the festive season even as restrictions are easing.
The festive season has positive purchase sentiments among the customers. With the second Covid wave waning, customers across the country are looking forward to engaging in celebrations and are showing increased inclination towards renovating their homes especially, for a much-needed change, albeit with caution. Godrej Locks & Architectural Fittings and Systems is focusing on its ‘Smart Kitchen Drawers and Organisers’ and ‘Slim Ergo Drawer Channels’, which offer a compelling value proposition to the customers. These solutions help create space, increase productivity, and save time and energy with their intelligent and elegant organisation. With this, the Company endeavors to encourage consumers to integrate a better looking and more flexible kitchen solution specially designed for Indian homes.
Commenting on this, Mr. Shyam Motwani, EVP and Business Head, Godrej Locks & Architectural Fittings and Systems, said, “At Godrej Locks, our constant effort has been to delight our customers through best‐in‐class solutions designed carefully to meet their constantly evolving needs. Festivities call for redecorating and renovating homes, and what better than upgrading the kitchen with the most premium looking fittings. We are seeing encouraging signs of demand revival and are targeting a double-digit growth rate of 46% during this festive season. In 2020, we witnessed maximum traction for Kitchen Fittings and this year, we foresee demand for non-wired solutions for kitchens such as Ergo Drawer Channels, Lift up solutions, etc. We plan to grow this to INR 100 crore segment in the next 3-4 years.”
Currently, the Kitchen Fittings segment contributes about 7% to the overall revenues of Godrej Locks & Architectural Fittings and Systems. The company has been present in the architectural fittings & kitchen systems category for the last seven years since its launch in 2013. Since then, the company has aimed to cater to the growing needs of the urban middle-class for products that are strong, durable, and aesthetically superior.
Recently, the company also announced the ‘Godrej Festival Sure-Win Offer’, which ensures guaranteed cashback on every purchase of a Godrej Locks & Architectural fittings product.