![]() Financial Daily from THE HINDU group of publications Friday, Nov 18, 2005 |
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Marketing
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New Products & Services Customised pillows from Portico Ajita Shashidhar
Mumbai , Nov. 17 FOR bed and bath products company, Portico, product development would be the core of its business strategy. The company that has close to 80 per cent share in the bed sheets market has recently expanded its portfolio by launching blankets and co-ordinated bedroom sets such as matching bed covers and quilts. It would also be launching co-ordinated towels and shower curtains for bathrooms. Mr Rajiv Merchant, CEO, Portico, says that the organised home segment is rapidly evolving and the Indian consumers are conscious about the style element when it comes to investing in home products. "There was a time when it was impossible for a retailer to convince a consumer to buy a bed sheet which was priced more than Rs 600. But today, consumers are willing to spend a premium and most often ask for co-ordinated sets." The company's latest launch, however, are customised pillows called Eco Pillow. Developed by a Hong-Kong based company, A-Fontane, Eco Pillow is based on the sleepcare technology of Canada's Sleepcare Inc. It is supposed to be the first tailor-made pillow in the country, which is available in six basic sizes and can be adjusted to suit each individual. The Eco Pillow would be retailed out of 15 lifestyle and home textile outlets across the country, and all these outlets, says Mr Merchant, would have an equipment called a pillow selector, which measures the curve of the neck and the shoulder width of the customer in 30 seconds. "This pillow prevents sore body problem and headache and also supports the cervical curve and neck for both the back as well as side sleeping positions." The pillow is priced at Rs 3,499 a piece. Apart from its focus on product development, the company also plans to expand its retail presence through standalone stores across the country. Mr Merchant says that there is a big gap in the premium segment of home products market, which it wants to tap through its standalone stores. "We are present in more than 500 multi-brand outlets, but it is through standalone stores that we can get the consumers to experience the brand and our entire range of products."
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