At the end of Godrej 125, we at Godrej Locks & Architectural Fittings and Systems (GLAFS) are both humbled and proud to tell our story. This is a story about vision, and the boldness to aim for never-before heights. This is a story about passion, teamwork, constant innovation, hard work, and breaking mindsets of the past. This story is about success, overcoming enormous challenges, and exceptional achievements and victories.
If we had to capture our
story in a word, that word would be ‘Pioneering.’
Today, with strong competition, pioneering across every aspect of the business continues to keep us a step ahead. In line with this 360-degree approach to pioneering, key strategic decisions in our main verticals have sharpened our game and helped us emerge as market leaders.
We have taken several strategic initiatives, in pioneering, some of which are:
Our proudest achievement: we have maintained our dominance in the Locks market, by continuing to be at the number 1 position, across all lock segments. We have launched several stellar locking products to increase our market share. We have taken significant strides in the Mortise segment, which is the largest segment in the Locks category. We have introduced new products at regular intervals to stay a step ahead of the design expectations of our consumers. Our range of Mortise handles encompasses the popular, premium, and luxury ranges. With Mortise being an aesthetically driven segment, we have always pioneered best-in-class designs to the market. We were the first to introduce PVD finishes which are considered superior amongst all finishes. All our Home Décor handles are screwless, which gives a seamless and elegant look. The Acceleration Programme for Locks has seen us pioneer strategic promotions of Mortise handles, as well as consumer promotions, both of which are firsts in the industry.
We have launched pioneering new products - Centaur, the world's first lock with dual motion technology, and Pentabolt Aries, the most advanced mechanical lock.
At GLAFS, we follow the mantra of Design-led-Innovation, where all our products have a Unique and Compelling Value proposition. All the products are classified as Step, Jump, and Leap Innovations.
We have constantly strived to introduce products that are truly innovative in nature and satisfy the consumer’s ever-changing needs and expectations.
We undertake extensive qualitative and quantitative research before introducing any product. This research helps us identify the market potential, consumer behaviour, price discovery, and many more critical aspects. By zeroing in on consumers' needs and expectations, we are then able to identify the products to be introduced.
We have a robust stage-gate process for new product development and introduction. This process involves a stage- gate after every few steps, where the decision of GO / NO GO is taken. This process is critical for the success of the new products. All products are also thoroughly tested before introduction. We have come up with a scientific way of launching products, covering all the relevant markets.
For new products, an important metric that we track is, that of product vitality. It is defined as the ratio of revenue coming from new products introduced in the last 5 years to the total revenue from all the products.
All new products are given special treatment during their first five years and are nurtured throughout their lifecycle.
This approach ensures a high chance of success in generating consistent business in the future. We have established a new adjacency called Architectural Fittings and Systems, keeping in mind the huge potential, twice as large as the Locks category, and making the best use of synergy with the existing trade channels.
We began with Furniture Fittings and then expanded our range through Door Controls, Door Fittings, Glass Hardware, and Kitchen Fittings. We have recently ventured into Bed and Wardrobe Fittings as well. All of these have helped us increase the revenue from the business revenue, substantially.
The current share of revenue of this category is more than 40% of the total revenue of the business.
The digital locks category has seen us put our best foot forward, with the launch of pioneering products such as India's first truly internet locks and Spacetek Pro, the nation's first indigenously designed advanced digital locking solution.
We are the first in the country to indigenously design and manufacture digital locks in India. We have developed a wide range of Digital Locks over the past decade which embraces both residential and commercial segments.
The success of Digital locks comes from having products at all price points, ranging from affordable to premium.
For the residential sector, we have introduced Catus, Advantis, and Spacetek Pro digital locks. For the Hospitality sector, we have introduced the Catus Hotel Lock, another uniquely designed lock crafted by highly talented industrial designers, resulting in one of the sleekest locks in the category. Apart from the Catus Hotel Lock, we also have a wide range of Hotel locks which include Omega, Orion, and fire-rated Magna locks.
We have pioneered key and successful initiatives in the sphere of influencer engagement, the Godrej Vishesh Labh Club (GVLC) and Godrej Value Co-Creators Club (GVCC). These are our nationwide outreach programs with carpenters and architects respectively. Annual awards, the GeeVees, are instituted to celebrate innovation in
architecture and interior design. VC Live, is an ongoing series of informative masterclasses and conversations with industry-leading designers, architects, and more.
Influencers are of great importance to GLAFS, be it in B2C or B2B segments of the market.
Godrej Vishesh Labh Club now has more than 75,000 carpenters and contractors on board, across the country.
We are proud to say that we also successfully organized the 2nd edition of the GeeVees Awards which celebrate the best projects in architecture and interior design.
With ‘Pioneering’ as our calling card, we now look forward with great hope to fulfilling our ambitions.
We deeply believe that these achievements are stepping stones to even greater achievements in the future. GLAFS is a story that is constantly evolving and growing, and we look forward to adding fresh, new chapters to it as we move forward.