Jindal Lifestyle Targets Rs 1,000 Crore From Cookware Business In Five Years
With this foray, Jindal Lifestyle will directly compete with brands like Prestige, Hawkins and Wonderchef.
The OP Jindal Group-led Jindal Lifestyle Ltd. has set an ambitious target of achieving Rs 1,000 crore turnover from the cookware business by 2029.
The subsidiary of Jindal Stainless Ltd. has forayed into the cookware business under its brand, Arttdinox. On Thursday, it unveiled a range of products—from frying pans and sauce pans to pressure cookers—in a bid to tap the growing demand for premium products in modern households.
"We are launching 50 stock-keeping units of our cookware range, starting from the Delhi-NCR region," Ranjan Choudhary, chief executive officer at Jindal Lifestyle, told NDTV Profit. "We will gradually introduce more products, as our goal is to have 300 SKUs and be present across the country within the next three years."
Jindal's entry into the cookware segment comes as the industry faces challenges such as rising raw material costs and reduced demand. Yet, Choudhary remains optimistic that it can achieve this target by focusing on the premium segment, which is less susceptible to inflation.
The premium segment makes up less than a third of India's Rs 15,000-crore cookware market, said Choudhary. With disposable income on the rise and growing aspirations, the market is projected to grow at a rate of 10-15% annually. "We look to capitalise on this potential for growth," he said.
With this foray, Jindal Lifestyle will directly compete with brands like Prestige, Hawkins and Wonderchef.
Choudhary said that the company holds a competitive advantage over its peers due to its parent's pioneering status in the stainless steel industry.
"The market is big enough to accommodate more players, and with our expertise in cutting-edge manufacturing technology and innovation, we should be able to withstand competition in India and on a global scale."
The cookware range will be accessible through their own website, Amazon, and an extensive distributor network. The brand aims to capture metro cities in the first phase of its expansion and hopes to become a pan-India player within the next three years, said Choudhary.
Arttdinox also sells premium stainless steel products across the homeware and home decor spaces. It plans to open nine exclusive stores this year.
Jindal Lifestyle would invest Rs 30 crore in marketing and distribution. It, however, didn't disclose its manufacturing capex for the current fiscal.
