Berger mulls tie ups to offer entire home decor range
Berger Paints, which currently enjoys the number two position in domestic decorative paints segment, is mulling tying up with furnishing and lighting firms to offer a complete home decor range to customers, a top company official said Thursday.
"Our core competence will remain the same. The home decor segment will be an added embellishment because we feel that there is a close linkage and this can be provided as an added input to the consumers," Berger Paints India Ltd managing director Abhijit Roy told reporters here.
"We will not enter into manufacturing these products like furnishing or lighting on our own, but we would prefer to tie up and give the entire offering under one platform," Roy said.
He said the company was planning to offer all the home decor products along with paints in its own lifestyle stores.
Roy was in the city to announce the launch of "Lewis Berger Design Stores", which will offer "readymade designer room themes" in paints to its customers.
Targeting upper-end customers, these stores will be a kind of "shop in shop" retail stores in the company's already existing 40 stores in Kolkata.
Later, the paint major, which presently has about 1,500 stores across the country, would roll out the designer stores in a phased manner in other main cities of the country.
For the designer stores, the firm tied up with leading interior decorator Sussanne Roshan. The furnishings for the design themes will be provided by D'Decor and the furniture will be provided by The Charcoal Project.
According to Roy, the new segment would be a significant enhancer to the paint maker's business growth in medium term.
The firm, which posted a turnover of Rs.3,400 crore in the last fiscal, is aiming to clock Rs.7,000 crore turnover in the next four years.
Berger Paints currently has 75 percent of its business in decorative paints .
"As of now, we garner about 30 percent of our revenue from premium products in the decorative segment. This percentage should reach to 35-36 percent in the next four years as we are focusing on premium products," Roy added.