homebusiness Newscompanies NewsTTK Prestige to launch premium brands while competing to dominate the low end market
TTK Prestige to launch premium brands while competing to dominate the low-end market
TTK Prestige is charting a course towards becoming a dominant force in the kitchenware industry. With plans to launch premium brands, a strategic focus on capturing a wide customer base, and a determination to take on cheaper competitors, the company is well-positioned for growth. While export challenges persist, the company remains optimistic about the future, both in the domestic and international markets. Investors and consumers alike will be watching closely to see how these strategies play out in the coming quarters.
TTK Prestige, leading consumer durables and kitchenware maker, plans to launch a range of premium bands even as it continue fighting for a dominant position in the lower-end market.
In a recent interview with CNBC-TV18, TT Jagannathan, Chairman of TTK Prestige, shared insights into the company's plans to dominate the kitchenware market. The company, known for its innovative and high-quality kitchen appliances, also has some exciting developments in the pipeline.
TTK Prestige is gearing up to launch a range of premium kitchenware brands. According to Jagannathan, these new brands will cater to the higher end of the market, offering top-tier products designed to meet the demands of discerning customers. This move signifies the company's commitment to diversifying its product portfolio and providing options for customers seeking luxury in their kitchens.
Jagannathan further mentioned that one of the company's brands — 'Judge' caters to the lower end of the market, offering affordable yet quality kitchenware solutions. The 'Judge' brand has already been launched, and it is aimed at capturing a wider customer base, ensuring that TTK Prestige covers every segment of the market.
One of the primary objectives of TTK Prestige is to compete effectively with cheaper kitchenware brands. Jagannathan expressed satisfaction with the company's performance in this regard, suggesting that their strategy is yielding positive results. However, he acknowledged that the battle is ongoing, and the company will closely monitor how this competition unfolds in the future.
“Judge is not a premium brand, but a lower-end one which has been launched, where we are looking at fighting the cheaper brands. It is doing well now and we will have to wait and see how it plays out,” he said.
TTK Prestige is optimistic about the demand for its products. Jagannathan believes that demand will see a notable improvement starting from the third quarter of the current fiscal year. This projection is likely based on consumer trends and economic factors, and it indicates the company's readiness to capitalise on increased demand.
While discussing the company's performance on the global stage, Jagannathan acknowledged that exports have faced significant slowdowns. However, he remains hopeful and expects that exports will rebound in the upcoming fiscal year.
Looking ahead to the fiscal year 2024, Jagannathan anticipates that exports will recover to some extent, estimating a growth range between 5 percent and 10 percent.
For more details, watch the accompanying video
(Edited by : C H Unnikrishnan)
First Published: Aug 25, 2023 4:23 PM IST
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