Godrej looks to double market share in Qatar
GODREJ Locking Solutions and Systems, India’s leading player in locking solutions, is eyeing the Qatari market for major retail expansion, a top company official has said.
“Currently we have a 5 percent market share in Qatar. We are aiming to double it to 10 percent by 2017,” Prasad Sane, head of international business at Godrej Locking Solutions and Systems, told Qatar Tribune in an interview.
Established in 1897, the Godrej group has a turnover of over $3.3 billion and 25 percent of its business is done overseas.
According to Sane, the market size of locking solutions in Qatar is about $25-30 million, and Godrej is looking to tap this market by targeting key sectors such as hospitality, healthcare, defence, power, telecom and infrastructure.
“The global potential for locking solutions is about $10 billion, and 17 percent comes from the Middle East. This gives us all the reason to believe that there is huge growth opportunity in the region and particularly in Qatar,” Sane said.
He said the Middle East contributes over 34 percent to Godrej Locking Solutions and Systems’ global business.
“In partnership with our sole local distributor Nabina Hardware, we are targeting a growth of approximately 35-40 percent in the next 3 years. We are also planning to set up 1 service centre in Qatar by year end and two more will be set up in the coming years,” he said.
Asked if the company has managed to secure any major contract in Qatar, Sane said, “We have supplied about 50,000 to 60,000 pad locks to Kahramaa and we expect to supply similar number next year. Eighty power sub-stations of Kahramaa are already using Godrej locks.
“Recently we won an order from Qatar Post (Q-post) to supply locks and these kind of contracts demonstrate customer confidence in our products.” The Godrej official noted that the company would look to capitalise on the massive infrastructure projects being undertaken by the country in the coming years.
Commenting on the partnership with Godrej, Nabina Hardware Company Chairman Abdul Aziz Nabina said, “Our retail network and Godrej Locking Solutions and Systems’ products and services make a win-win situation for both the companies. The partnership is geared up for a better future.”