Veena Polymers, manufacturer of Richies brand of PVC edge band and masking tapes, is eying tier I and tier II cities for expanding its distributor and OEM network. In an exclusive interaction with Sourcing Hardware, the company’s managing director Rajeev Aggarwal (email@example.com) shared that the company aims to increase distributor count to 250 and OEM count to 500 by the end of this fiscal. “At present, we have 50 distributors, 150 dealers and 200 OEM customers. We will be focusing on tier I and tier II market to meet our targets,” he said.
“We have the largest range of Made in India shades and sizes, 275 to be specific, in edge bands,” informed Aggarwal, adding that the company will expand presence in its existing markets rather than enter new markets. Veena Polymers, he said, has a good presence in the south and north, and in the east including Gauhati, Kolkata, Siliguri. “For OEM supplies, the order size should be more than Rs 3 lakh.”
Veena Polymers edge band with meter-marking and branding launched three years ago, is amongst the most sought after in the market. “We have done meter-marking on the backside of the edge band so that users can avoid wastage.” Masking tape, launched last year, has also generated good demand. “We will be launching two to three new products related to the furniture industry this year,” shared Aggarwal.
Talking about the manufacturing abilities of the company, Aggarwal informed that all raw materials are sourced from Indian leaders such as Finolex, or Germany and the USA. The machinery is from Japan, Germany, Taiwan and China. “We have invested Rs 2.5 crore in the entire set up.” He stressed that Veena Polymers launches products that are generally imported from China. “In this way, we are generating employment in India and also curbing imports. In terms of positioning, our brand Richies is placed between the likes of REHAU and Chinese products.”