Jindal Lifestyle (JLL), the stainless steel manufacturer is aiming to gain Rs 1000 crore premium cookware market share in the next five years with its premium cookware range under the umbrella brand of Arttd’inox (a Jindal Lifestyle initiative).
“The Indian cookware market is around Rs 15,000 crore and out of that Rs 3,500 crore is the premium market and it is expected to grow at 10-15 per cent year-on-year (YoY). We are eyeing the number 1000 crore in five years,” said Ranjan Choudhary, CEO, Jindal Lifestyle.
According to Choudhary, the growing desire for enhanced lifestyles, innovative home convenience, and increasing disposable income are the key consumer trends driving the growth of the premium cookware segment in India.
The CEO revealed that currently, most of the revenue comes from the offline channels in kitchen space which can be around 60 per cent.
Additionally, the brand will primarily focus on the Indian market and then expand into North American, European and Middle East markets.
While talking about how Jindal Lifestyle will reach its target audience for this premium cookware brand, Choudhary highlighted their multi-channel approach including leveraging existing retail partnerships and also developing new channels.
“We will have existing retail partnerships, we will have our own D2C channels, general trade modern trade partner and ecommerce. We have invested very heavily in the marketing campaign and we will keep on doing that across the year,” he stated.
The company has an aggressive plan to invest in Marketing and Innovation and may spend up to 50 per cent of first-year revenue. “This will help the company to stay in competition”, Choudhary told BW Retail World.
Furthermore, the company will open nine more stores in India this year.
