Godrej Locks eyes 50 percent market share, will bring cheap products
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Godrej Company aims to increase its market share in locks and security solutions related products from 30 percent to 50 percent. Shyam Motwani, business head of the company’s Godrej Locks and Architectural Systems, said that the company will bring a new range of affordable products and cut the prices of existing products.
Mumbai . Locks and security solutions provider Godrej Locks (including locks) aims to increase its market share from 30 per cent to 50 per cent in three years. The company has said that for this it will bring a new range of cheap products and cut the prices of existing products. Shyam Motwani, business head, Godrej Locks and Architectural Systems, said the company’s new products are more than 50 percent cheaper than existing locks.
He said that an effort has been made to make the existing locks cheaper by seven-eight percent. Motwani told PTI that the company will reduce prices of existing locks and launch new lower-cost products to gain larger market share in about three years. Motwani said that our target is to increase our stake in this sector from 30 percent to 50 percent.
The company sees huge opportunities for its products in tier II, III and IV cities. He said that the new locks have been designed and developed in-house by the company keeping in mind the needs and aspirations of the rural-urban population without compromising on quality.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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