Conceived way back in 1960, Jaquar today has emerged not just as a market leader in bath fittings category in India, but has also evolved as a complete Bathing & Lighting solutions provider. In an interview with Avinder Batra, Mr.Rajesh Mehra, Director Marketing Jaquar, shares his expansion plans and consumer insight and demand of bath fittings & lightings in Indian context.
Avinder Batra(AB): Tell our viewers about the company. Which are the latest products being introduced in the Indian market? How is the response?
Rajesh Mehra(RM): Jaquar has been launching various products. We have 3 sub brands essco, jaquar and Artize. Where essco caters to the entry level, Jaquar to the mid segment and Artize to the niche segment. Jaquar is known for constant innovation and up gradation bringing world class international products to the Indian Market. Products featuring under the Artize brand are masterpieces of art from the house of Jaquar. The shapes and designs under this range are exclusive, unimagined and never seen before. The technology used in manufacturing them is of the highest standard. All products under this range have a perfect mirror finish. Apart from Artize, we have also introduced a wide range of wellness products such as whirl pools, steam cabins and Spa’s, along with water heaters.
In 2010 we have announced our foray in the sanitary ware business. The products would be available in the market by April 2011. The response that we have received from the market has been very positive with regards to the new products that we have introduced since all are backed by Jaquar warranty and customer services.
AB: What is your turnover this fiscal? How much growth are you expecting in the next 2 years?
RM: This fiscal our turnover was 784 crores and we are hoping to cross the 1000crores mark by next year.. We are expecting to grow more than 30% in the next 5 year. The CGR in the last 10 years has been 35-36%.
AB: What is your market share? What would be your strategy to maintain the same in future?
RM: Jaquar being in the industry for the past 50years has established itself as a market leader. Our market share is 60% of the organized sector and in spite of the foreign competition we have been able to sustain our position by providing the highest quality products and constantly innovating keeping in mind the feedback that we receive from our customers. We have 3 state of the art manufacturing units in Bhiwadi Rajasthan which are spread across 1,0,3000 sqmts where we undertake constant R&D initiative inorder to improvise on our products.
AB: Jaguar is a complete Bathing & Lightings provider in itself. How are you spread in the retail environment?
RM: As a manufacturer our role is to support the market through our manufacturing capabilities. We have a huge dealer network of 1800 dealers across India from Leh to Kanyakumari. Apart from this we have 22 orientation cum customer experience zones across India. The OC’s are not retail outlets but are there to educate the customers regarding the various Jaquar products available in the market. We also support our dealers through our marketing objectives by providing them adequate support.
AB: Is there any plan to enter into the retail sector too?
RM: As of now, there are no plans as such.
AB: As the consumers in India has become immensely experimenting with the products. What are your efforts to attract the customer base towards more standardized products?
RM: Customer psychology and customer expectations vary from region to region. The consumers are more educated, have higher incomes and spend more, in the forthcoming year it’s going to be even stronger. The customers are demanding, they look at good quality products and value for money.
AB: What are the main challenges that prevail in the Indian context? How are you focusing at minimising them?
RM: We invested a lot of money in the R&D sector. Our products undergo various channels of testing before the final packaging.
AB: Please share your expansion plans/tie ups in the coming times.
RM: Jaquar has been very flexible to deliver the best to its customers. Having partnered with global giants to introduce numerous world-class products in the Indian market We have tied up with various international brands and brought them to India. We have various tie-ups like, AOSmith from USA, Breuer from German company, Breuer, a pioneering German company, Docol from Brazil, SIAMP from Monaco.