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Friday, Sep 23, 2005

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Godrej bid to have a Lock on the market

Our Bureau

Kolkata , Sept. 22

AS part of its drive to generate a turnover of Rs 150 crore in the current fiscal, the locks division of Godrej & Boyce Manufacturing Co Ltd will introduce the "store-in-store" concept in 150 select hardware outlets across the country within the next few months.

In 2004-05, the locks division recorded a turnover of Rs 106 crore. To strengthen its marketing efforts, the company is now geared to "sell solutions instead of just locks", according to Mr Kartik Modi, Sr. General Manager (Marketing & Sales), Locks Division, Godrej & Boyce Manufacturing Co.Ltd.

Addressing newspersons here, Mr Modi said the selected hardware stores would have a specially demarcated area for exclusive display of Godrej locks. This would provide a fillip to the changing consumer preference in favour of branded locks manufactured in the organised sector in place of products on offer from the unorganised segment.

Besides, the company was now offering "total solutions". Towards this end, a toll-free number had been set up for addressing customer queries and requirements even as training was being provided to channel partners and salesmen.

Mr Modi said the company's sales were growing faster than the industry average of around 6 per cent. At present, institutional customers account for 18 per cent of the company's revenue while the balance is accounted for by retail customers.

To augment its share of the domestic market for locks in the organised sector — that has been valued at Rs 300 crore currently — the company was focusing on prompt service with regard to "installation, repair and emergency opening", Mr Modi said.

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