Financial Daily from THE HINDU group of publications
Friday, May 26, 2006
Financial Daily from THE HINDU group of publications Friday, May 26, 2006 |
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Marketing
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Retailing Jindal Stainless' artd'inox store on expansion mode Dharini Nagarajan
`We would be looking to enhance capacity at our plant to meet the growing demand'
New Delhi , May 25 The lifestyle products division of Jindal Stainless Ltd (JSL), artd'inox, is on an expansion mode. It plans to open 25 new artd'inox outlets across the country by the end of this year and has crystallised its plans to increase its presence in the overseas markets. Under the brand artd'inox, the company manufactures stainless steel lifestyle products including office desk accessories, kitchenware and tableware, which it retails at the stores. On the domestic front, the company is planning outlets in the main metros and cities such as Ludhiana, Chandigarh, Surat, Pune and in the southern market in the cities of Coimbatore, Kochi and Hyderabad. The company has earmarked roughly Rs 12-12.5 crore for its expansion into newer cities. Mr Sugato Bose, Business Head, artd'inox, JSL, said: "The demand has been strong and stable and we have recorded nearly 400 per cent growth in last year. Hence, we would also be looking to enhance capacity at our plant to meet the growing demand." The company would be ploughing in around Rs 5 crore to nearly double its production capacity at its existing plant in Rohad. "Presently, the plant manufactures around 10 lakh pieces a year and we hope to double the production capacity, this year," Mr Bose said. Furthermore, artd'inox has also tied-up with furniture company Ikea, to market its products in the overseas markets. "The tie-up with Ikea is a sustainable long-term business proposition," Mr Bose observed. The company which, exports almost 70 per cent of its lifestyle products to markets such as Canada, the UK, the US and Australia, is also looking to open stores in Dubai and Colombo. JSL has also launched a sub-brand under artd'inox named, `a-design'. According to Mr Bose: "The sub-brand is 25 per cent more expensive than artd'inox and is targeted to be a premium range brand. We plan to come with a new collection every two months."
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