Financial Daily from THE HINDU group of publications
Wednesday, May 24, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 24, 2006 |
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Marketing
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Retailing TTK Prestige plans new retail formats Our Bureau,
Bangalore , May 23. TTK Prestige today celebrated its earning the `Superbrand' status in Kitchen appliances category by announcing the setting up of two new retail formats based on lifestyle concept for high-end domestic electric products such as dishwasher, kitchen chimneys and hobs for gas stoves and a rural format store to market TTK Group's consumer products. The two concepts — Lifestyle Kitchen Solutions and Rural Format Stores — would be launched soon after their pilots were perfected. Lifestyle Solutions pilot would be launched in Bangalore soon, while a pilot of Rural Format retail outlet was already being running in Namakkal in Tamil Nadu. Superbrands India Pvt Ltd, an independent Company on valuation of brands has declared Prestige as `Superbrand' in the Kitchen Appliances category. Addressing a Press conference here today, Mr T. T. Jagannathan, Chairman of TTK Group, said. TTK Prestige in its quest to emerge as a complete kitchen solutions company, had launched 150 new products in pressure cooker and cookwear ranges in the last two years. The new lifestyle retail formats was an effort to leverage its strong brand strength. Mr Jagannathan said innovation had been the key growth driver for the company. He added the company would be spending Rs 50 crore on brand building while investing Rs 15 crore on a new facility coming up in Uttaranchal. Mr Chandru Kalro, Executive Vice-President, TTK Prestige, said 100 more outlet of Prestige Smart Kitchen stores would be added this year.Mr Kalro said the Lifestyle Kitchen Solutions stores would be different from the Smart Kitchen and rural retail format. The rural retail format would be set up in catchment areas for a group of villages with complete logistics support to keep the products affordable to customers.
More Stories on : Retailing | Home Appliances
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