Stovekraft, which is known for brands such as Pigeon, is growing its retail footprint in the northern region in a bid to strengthen its pan-India presence. It is also eyeing a larger share of revenues from exports.

Rajendra Gandhi, MD, Stovekraft Ltd told businessline, “We have traditionally been very strong in the southern region and we are now looking to strengthen our retail presence in the northern region. In line with this strategy, we have started with opening exclusive brand stores in Delhi-NCR and will gradually open stores across the north.”

The company also sells its products from general trade stores, modern trade stores as well as online channels. “We have been expanding our retail footprint at the rate of 25-30 new exclusive brand stores every quarter. We will accelerate the pace as we go forward with a stronger focus on opening stores in North India. At the same time, we will also continue to add new stores in the southern region,” he added

Expansion

At the beginning of the December quarter, the company was operating about 125 stores. “By the end of the next fiscal, across the country, we should be at between 300 to 350 standalone stores,” Gandhi explained. These stores are company-owned and company-operated. 

The kitchen appliance company is betting big on the shift towards branded products, especially in smaller towns and rural regions. “A larger contribution of revenues comes from the cookware segment. We are also witnessing high growth from the appliance segment, which is a strong pillar for future growth,” he added

Meanwhile, the company is also looking to ramp up exports. “Currently, about 12-13 per cent of revenues come from exports and we believe there is potential to grow this contribution to about 20 per cent,” said Gandhi. He added that the company is closely working with retailers in the Northern American region such as Walmart and is now looking to export a wider product portfolio.

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