Business Daily from THE HINDU group of publications
Tuesday, Aug 08, 2006
Business Daily from THE HINDU group of publications Tuesday, Aug 08, 2006 |
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Marketing
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Strategy Jindal brand artd'inox steels itself for southern foray R. Ravikumar
Apart from these standalone stores, the company sells its products through the shop-in-shop format in multi-brand outlets across the country and also through the Net.
AN ARTD'INOX boutique in New Delhi.
Chennai , Aug. 7 The lifestyle product brand artd'inox, made in steel, from the Jindal group is all set to enter the South with its first standalone outlet in Bangalore to be opened on August 10. "Now the South is our main focus area and we are planning to have at least 10 standalone stores in the South," said Mr Sugato Bose, CEO, Austenitic Creations. Jindal Stainless Ltd recently hived off its lifestyle products division into a separate entity under the name Austenitic Creations Pvt Ltd. "The move is to allow us to leverage our retail identity and chart out our own growth path," said Mr Bose. The company's product range includes kitchenware, tableware and office accessories — all are marketed under the brand name artd'inox. The products are available in prices ranging from Rs 135 for a bottle opener to Rs 15,000 for a dinner set.
Standalone stores
artd'inox, at present, has 7 standalone stores styled artd'inox Boutique. "At the end of the current fiscal, we hope to have around 25 standalone stores across the country," Mr Bose said. According to him, the company is also planning to open a boutique in Chandigarh on August 20. It invests on an average Rs 50 lakh on each store. Apart from these standalone stores, the company sells its products through the shop-in-shop format in many multi-brand outlets across the country and also through the Net. The company now has a facility to manufacture four lakh pieces a month. "We are planning to more than double its capacity by the end of this year at an investment of Rs 5 crore," said Mr Bose. artd'inox claims to introduce one new product in every four weeks. Exports account for 70 per cent of the company's revenue. It exports its products to countries such as the US, Canada, Australia and the UK. "We made major inroads into the hospitality business in the US and European markets," declared Mr Bose. "We are also planning to have stores in Dubai and Sri Lanka soon."
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