Godrej Locks eyes INR 100 crore revenue from its kitchen systems business, launches smart kitchen storage solutions brand ‘SKIDO’
New Delhi: Godrej & Boyce, the flagship company of the Godrej group today announced that its business unit Godrej Locks & Architectural Fittings and Systems, is eyeing a revenue of INR 100 crore from its Godrej Kitchen Fittings and Systems business, in the next five years.
The company has launched SKIDO- Smart Kitchen Drawers and Organisers, an innovative range of smart kitchen storage solutions.
To meet the unique requirements of the Indian kitchen, the company curated SKIDO which is ‘Designed in India and made for India’.
The range has eight products including kitchen drawers and dedicated organisers for cutlery, cup & saucer, wok, fry pan, thalis, containers, and jars & bottles.
SKIDO is an outcome of extensive research conducted by the company to study Indian kitchens and the different style of cooking.
The insights led Godrej Locks to create the SKIDO range of innovative storage solutions that make the lives of kitchen users easier and better.
The company aims to reduce dependence on western solutions which were the only options consumers had, and offer customized solutions for Indian kitchen spaces. SKIDO storage solutions are convenient to install, easy-to-carry and are multi-functional.
Commenting on the launch of SKIDO, Shyam Motwani, EVP and Business Head, Godrej Locks & Architectural Fittings and Systems said, “The Indian modular kitchen business is valued at INR 2,500 crore and is projected to grow at a CAGR of over 27% during 2019-2024. We see tremendous growth potential in this segment considering that 4% of our total sales were generated from this segment last year. In the next few years, our strategic focus would be to achieve INR 100 crore revenue from this segment. We have witnessed a renewed demand in kitchen accessories given that modern Indian families are now using their kitchen more than ever and looking for effective solutions. This demand will be a definitive growth driver.”