Godrej Locks eyes Rs 100 crore revenue from its kitchen systems business

Godrej and Boyce, the flagship company of the Godrej group notified that its business unit Godrej Locks and Architectural Fittings and Systems, is eyeing revenue of Rs 100 crore from its Godrej Kitchen Fittings and Systems business, in the next 5 years. The company has introduced SKIDO- Smart Kitchen Drawers and Organizers, an innovative portfolio of smart kitchen storage solutions. To meet the uncommon requirements of the Indian kitchen, the company unveiled SKIDO which is ‘Designed in India and made for India’. The range has 8 products including kitchen drawers and dedicated organizers for containers, cutlery, cup and saucer, fry pan, thalis, wok, and jars and bottles.

It is a result of elaborated research done by the company to study Indian kitchens and the various cooking styles. The insights led the company to curate the range of creative storage solutions that make the lives of kitchen users simpler and better. The company targets to decrease dependency on western solutions which were the only options consumers had, and provide customized solutions for Indian kitchen spaces. The storage solutions are easy-to-install, easy-to-carry and are multi-functional.

Shyam Motwani, EVP and business head of Godrej Locks and Architectural Fittings and Systems stated- “The Indian modular kitchen business is valued at Rs 2,500 crore and is estimated to grow at a CAGR of more than 27% during 2019-2024. We see enormous growth potential in this segment considering that 4% of our total sales were generated from this segment last year. In the next few years, our strategic aim would be to achieve revenue of Rs 100 crore from this segment. We have seen a renewed demand in kitchen accessories given that modern Indian families are now using their kitchen more than ever and searching 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 provides various products such as Ergo Drawers, Wire Baskets, Corner Solutions, Tall Units, Soft Pro Systems, Drawer Channels, and Hinges. The brand is the most recent offering under this segment. It costs between Rs 15000-20000 per set and will be available across general trade and hardware.