Godrej Locking Solutions and Systems (Godrej Lockss), the 120-year-young locking systems and hardware solution manufacturer and part of the Godrej Group, has announced that design-led innovation will be one of the core pillars of its business growth strategy along with new product offering, increased reach within domestic market and expansion to several key international markets. The company aims to cross a business revenue of Rs 1,000 crore by FY2020.
Commenting on the importance of a design-led innovation strategy, Shyam Motwani, Executive Vice President & Business Head, Godrej Locking Solutions and Systems, said, “Consumers across the world are increasingly getting design conscious. They want to design their home and ensure that the whole house syncs in both, design and functionality. The design thinking and technology expertise has helped locking solutions emerge from the shadows of being a functional product to a technology and safety driven product. Therefore, design-led innovation and customer centricity will continue to be our core focus areas. We plan to introduce several new products under different categories which will be an amalgamation of aesthetics and performance.”
Under its rurban (rural and urban) initiative, Lockss plans to develop specific products for rural and urban markets (with over 100,000 population or less) as it believes that it has the technical knowhow and wherewithal to enter these markets with the right products that meet the demands of the region.
Customer centricity and design
Godrej Lockss was incepted stoking a swadeshi fervor during the pre-independence era of India with an aim to provide high-quality locking solutions to Indian homes. The company has often defined how the locking solutions category shaped-up in the country.
From the first Anchor branded lock in 1897 to the first ever spring less lock in 1907, to the iconic 'Navtal' in 1954, and to the postmodern biometric locks, Godrej has set every benchmark in the locks industry.
Over the years, the company has expanded its reach in international markets with its trusted locking solutions. It has also entered several new segments and adjacent categories such as kitchen fittings, glass hardware, professional knives and scissors, and achieved unparalleled success.
Using design as a tool of creative productivity, Godrej Lockss has even set up a core product design team that encompasses experts from both within the company as well as industrial product design experts from Pune-based Futuring Designs. This team of experts has been the brainchild behind the success of many recent products.
“Design is an intrinsic part of product development as well as product experience. Unless a product matches the requirements of both these factors, it will not leave a lasting impact on the market. Our products have continuously won several leading design awards for the superior performance and design. The main door lock – Pentabolt Aries, the ethnic premium door handle series – Arsa, and digital lock – Advantis, are few of our new state-of-the-art products that epitomise our promise of delivering high performance and aesthetic appeal to our products,” Motwani added.
The overall lock market in India is valued at Rs 4500-5000 crore, which is largely unorganised and fragmented. Among organised players in the locking solutions market, it has a lion’s share of the market.