art’dinox, a premium home décor brand from Jindal Stainless Ltd, plans to strengthen its presence into e-tailing extensively at a time when economic slowdown has affected the retail sectors. Further, the company plans to strengthen its presence in overseas markets extending products into OEM and private label segment, besides selling only the branded products, informed a top company official.
Speaking to IndiaRetailing, Veer Kaul, CEO, art’dinox, said, “Nowadays e-commerce is picking up in a big way. Some of the major factors attributing to this booming industry is because online shopping is more convenient for the people with hectic lifestyle and secondly, people want a better deal for their money. Also the consumers these days are getting more comfortable in making online transactions.”
Asked about company’s plan to diversify the business, Kaul said that the company, which offers products in home and lifestyle segment, is planning to further explore the product depth thereby offering more to the customers. “We cater to the premium category of the society. So we have to innovate in terms of designs and product range. Recently we have launched our new feminine collections ‘The Frangipani’ and the Amethyst and bathroom range called Onyx bath set. We are planning to launch other products as well.”
The company currently operates eight exclusive stores in key metros like New Delhi and Mumbai and has presence in 41 multi brand outlets including Shoppers Stop, Westside, Home Stop and The Home Store, and in shop-in-shop format.
Elaborating the expansion plan, Kaul said, “In India, we want to double our market share from the present seven per cent by increasing the number of outlets. In 2009, we will strengthen our presence in top 20 cities across India.” However, he did not mention the locations where they want to foray.
Speaking about the overseas expansion plan, Kaul further stated, “Considering the economic slowdown, the countries like Europe and Middle East have emerged as lucrative markets for lifestyle segment. For the growth rates in these markets we will follow a two-pronged strategy of establishing our products as a global brand and also being an outsourcing agency for designing internationally-acclaimed products in the segment.”
The company plans to invest around Rs 500 million in the next three years to market its products in East Europe and West Asia. Also, the company, with presence in 37 countries, is now eyeing the European and Middle East markets as well and looking at a turnover of around Rs 6 billion in about three years time, concluded Kaul.
— Sarimul Islam Choudhury