Godrej Lockss puts design-led innovation at the heart of its business strategy

  • Industry News
  • Dec 28,17
Godrej Locking Solutions and Systems (Godrej Lockss), the 120-year-young locking systems and hardware solution manufacturer have 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 INR 1000 crore by FY 2020.
Godrej Lockss puts design-led innovation at the heart of its business strategy

Godrej Locking Solutions and Systems (Godrej Lockss), the 120-year-young locking systems and hardware solution manufacturer have 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 INR 1000 crore by FY 2020.
 
Commenting on the importance of a design-led innovation strategy, Shyam Motwani, Executive VP & 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 the 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 know-how and wherewithal to enter these markets with the right products that meet the demands of the region. Using design as a tool of creative productivity, Godrej Locks 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 INR 4500-5000 crore, which is largely unorganised and fragmented. Among organised players in the locking solutions market, Lockss has a major share of the market.

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