Godrej Locking Solutions & Systems (GLSS) has forayed into the premium mortise locks market. It has launched a range of brass forged premium door handles under the Arsa brand.
Announcing the strategic decision, Shyam Motwani, EVP & business head at GLSS said, “The Arsa collection is a result of Godrej LOCKSS’ design-led innovation principle and is driven by consumer insights. It depicts the glorious architectural history of India.”
Motwani added, “The premium mortise market in the country is estimated to be worth Rs 2,000 crore. Of this, the luxury segment is estimated to be worth Rs 300 crore.” According to Motwani, the total size of the lock industry in India is around Rs 4,500 crore. Arsa, the new range of premium door handles inspired from Indian heritage, has been launched with a view to capture majority share of the Rs 300-crore luxury door handles market. “With our foray into this segment, we intend to dominate the premium segment by offering mortise handles which are a result of our design-led innovation and astute understanding of the Indian consumers.”
The Arsa collection comprises of 20 designer luxury door handles of which four designs, drawing inspiration from Madhya Pradesh, Maharashtra and Bikaner, were launched recently. The design for Kalasam is inspired by the rich floral engravings seen on Ahilyeshwar temple and fort in Madhya Pradesh. Bel, which means creeper, is a bold interpretation of Maharashtra’s Uttareshwar temple carvings. Mor draws inspiration from the crown, crest and feathers of the majestic bird depicted in the Sanchi Stupa in Madhya Pradesh. Udaan is a result of the artist’s expression of birds flying in different forms, from the Anup Mahal of Junagadh Fort in Bikaner.
Motwani also informed that princess Ashwathy Thirunal Gowri Laxmi Bai of the Travancore royal family has become the first customer to order Arsa door handles for the royal Kowdiar Palace in Trivandrum. The Arsa collection is available in antique brass and antique copper finishes. The products will only be available in 60 premium outlets of key metro cities and will be priced Rs 20,000 onwards. The company is aiming to sell around 2,000 units in the domestic and international markets this fiscal.
On the financial side, the company is eyeing a 15% sales growth to Rs 750 crore this year. “We would have sales of around Rs 750 crore in the current fiscal. Last year we were around Rs 650 crore. We are growing around 20% year-on-year,” shared Motwani. Also, the company aims to clock Rs 3,000 crore sales by 2022-23 and would invest Rs 80 crore in the next two years for enhancing its production capacity.
At present around 83% of sales comes from retail, 14% from B2B channel and the remaining 3% from exports. “We have an aspiration to make B2B grow faster than B2C and become a larger contributor to our revenue,” Motwani said, adding that the firm is focusing on a collaborative approach and partnering with many of its B2B customers, such as real estate firms, for its locking solutions. The company is also expecting the ratio of exports to go up in the coming years, as it is scouting for more geographies with an enhanced product range.