Established in 1986, Vinod Cookware one of the leading kitchen appliances brand has extensive range of 400 products in India across 7 categories. This Indian brand also has a State-of-the-art technology with manufacturing unit in Palghar, Mumbai. Vinod Cookware claims it is one of the firsts to launch Pressure Cooker in India, pioneered the Technology.
The brand valuing more than 180 cr with extensive presence in North India is also a dominant player in South India. Sunil Agarwal – Director, Vinod Cookware, took up the mantle of taking the cookware empire to newer heights and has delivered outstandingly. He has earned accolades for his brands by expanding Vinod’s portfolio From stainless steel to state-of-the-art technology categories such as induction cookware and the competitive non-stick cookware, Agarwal achieved success regularly.
Sunil Agarwalspoke to TVNews4U’s SwaminathanBalasubramanian, on the company’s markcom journey, market conditions and future plans for his brands.
Edited excerpts.
- What you think on the GST impact on the Industry.
The biggest benefit of GST is an elimination of multiple indirect taxes. All taxes that currently exist will not be in picture. This means current taxes like excise, octroi, sales tax, CENVAT, Service tax, turnover tax etc is not be applicable and is under common tax called as GST. GST overall, has built the ease of business. With one country one tax concept, GST has prevented unhealthy competition among states, making interstate business more beneficial. Lastly, GST is applicable to all stages From Manufacturing to Consumption making Simpler and lesser of compliances.
- What are the key impacts of Changing Trends on the Business / Competition and Dynamics of theCookwareIndustry
Cookware industry in India has received a major boom in the scenario and is fast growing. The industry is pegged to grow at around 21%, some of the key drivers which shall build the segment can be understood as under. The cookware market is exploding with innovation, need for enhanced convenience in the household is driving the rapidly growing demand. The increased purchasing power and evolving lifestyle has made the market extremely attractive. Due to high degree of urbanization, proliferation of nuclear families and technological advancement, there have been far-reaching changes in the nature of cookware products, overall the Indian markets have evolved over the years. All these factors combined builds a humongous potential for the market along with infinite opportunities to expand and serve numerous consumers.
With every passing era, there are new sets of products making an entry in the market. It all started with Non-stick cookware and fifty years later, the cookware market furthermore keeps on developing. To summarize, the cookware industry has become more like the technology market. Every now and then there is a new innovation, a new update or a new launch seeking public attention at its best, expanding the industry as never before.
- What are the new products you are coming up with?
We see a huge scope in Bottles and Platinum Series. Already, in sync with the growing needs we have launched a range of bottles in stainless steel which keep water safe and hygienic to drink. With growing technological advancements, we shall bring new technologies to the sector. For Platinum, we have several product categories waiting, you shall hear that shortly.
- What are the ways forward for the Brand in FY 2018 – 2019?
The brand has been consistently evolving ever since its inception with the quality assured products that are marked with excellence. We at Vinod Cookware have roughly captured 12% of the total market in India and are targeting a steady growth. We are a proud debt-free company with the annual revenue of Rs. 300 cr.The Year 2018 shall redefine Vinod’s presence in the Indian Markets. While we aim to reach our Market share target, the pace of our growth shall be supported by both Online and Offline presence.
- What is the key mode of communications of Vinod cookware to create brand awareness?
As you know, the key to creating strong brand awareness is by repeatedly exposing your brand to your target audience. Thanks to the internet and modern guerrilla marketing methods, we have created effective marketing methods maximising Vinod’s exposure. Over a period of time we have deployed, Modern and Traditional Marketing Mix that has enabled us a stronger reach among the audience.
Traditionally we have our TVC, Print Ads and also on-ground activitiesthat keeps the momentum ongoing. While in sync with the new age audience, we have also effectively leveraged Search Ads, Content Marketing with Digital Media, Video Marketing and also associations with the right influencers.
- Who are your target audience and how you ensure your campaignsreach the relevant audience?
Currently, the brand has established a strong foothold in the Cookware Market. But with evolving times, the Brand too has diversified its Target Age groups. With the launch of our Health centric products,Bottles and more, we have widened our Age Group to 15-year-old to 50-year-old customer.
Our Marketing strategy too has made a note of it, wherein for Youth we have narrowed our communication to be young, peppy and vibrant…our recent TVC Thandarakh (for Bottles) holds testimony to that. For the audience, which goes above the Youth, we have addressed the key pain points enabling a stronger connect to the relevant audience. Identifying the nature of consumer to Tailoring communication, our Thumb rule remains ““get the right message to the right person at the right time”
- You want to expand your business in new markets. What are themarketing / communications plan you have to reaching newlocations?
We have more than Thousand retail stores at PAN India level in over 500 cities. The strength to tap the newer markets, lies in deep understanding of diverse Indian cooking habits, understanding the newer audience ‘Lives’ and the mindset which we trying to attract.Understanding which we have always tailored region-specific communication and Marketing, blending in what the audience needs and desires, bringing solutions with latest in technology.
