Jindal Lifestyle Ltd, an initiative of Jindal Stainless, is looking to ramp up the B2C (business to consumer) vertical of its business, which includes the homespace and homeware segments, by rolling out more product offerings and enhancing its reach both on online and offline channels. The company, which sees close to 20 per cent of its sales coming from overseas markets, is also looking to further enhance its focus with a clear view to growing the international business.
According to Rajesh Mohata, CEO & Executive Director, Jindal Lifestyle Ltd, under the B2B vertical, it manufactures and supplies products to a lot of home appliances companies for jars, bowls and other components made of stainless steel. This accounts for nearly two-third of its total business while the remaining one-third comes from the B2C segment, which includes the homeware products under the brand Arttd’inox and the homespace segment which includes stainless steel kitchens, wardrobes and vanities.
“B2B is a larger segment of our business because we supply to many companies as a part of their OEMs. So two-third is B2B and one third is B2C but we are now looking forward for growth in B2C segment because in B2B more or less, there is a regular growth which will happen like year-on-year usually the segment grows by 6 to 10 per cent that is an industry average. But in B2C, we are seeing a good growth in the coming future our focus will be to see how we can increase our business in B2C segment by giving them better offerings,” Mohata told businessline.
Plans are afoot to roll out an entire range of cookware including stainless steel frying pans, pressure cookers and saucepans among others to expand its range of offerings. It currently offers products under serving and eating categories.
“We are working (to introduce stainless steel cookware) as of now and most probably by mid of this financial year, we will look to launch our cookware business which is a very large market compared to the homeware and barware market which we are currently serving, so looking forward for a huge growth there,” he said.
Home space segment
It has roped in marketing consulting companies to seek advise on the changing trends as well as the requirements of new age generation to enhance its product offerings in tune with the customer demand. It is also looking to launch wood, ceramic, glass finishes to enhance the look and feel of the kitchens. “We are expecting the segment, which was not being addressed by us, now, will be addressed by putting these offerings which should help us in growing at least 3X in this financial year which is our target,” he said.
The company had grown by nearly 10 per cent in the home space and kitchen segment last year and is hopeful of posting 3X growth this year backed by these new product offerings.
The company is going aggressive on e-commerce sales since last one year. It has listed the products on various market places and also revamped its own website to ramp up sales. Listing on online platforms would also help ramp up global sales. The company has been witnessing good demand for its products from the US, the UK and the Middle East.
The company would also look to ramp up its offline presence by opening more stores. I