 "Nippon Paints plans to get into retail business")
At present, the format is at the drawing board stage. However, the company expects to get into retail format in a year’s time.
Speaking to reporters at the sidelines of launch of the compnay's new range of special effect paint under the brand Momento in Chennai, Mahesh Anand, president of Nippon Paint said, “It would be a retail shop, but not in the format of a typical paint shop.” He added, “Our idea is to provide the painting service along with the paint to the customers.”
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Anand stated that the plans are still at the drawing board stage and details are yet to be finalised. While, traditionally, the paint sales happen through the painters, where the end customer assigns a painter for a painting job and the former choosing the suitable paint, Nippon is going to experiment with a different format alltogether. Anand did not reveal any specific details regarding the company’s retail venture.
At the same time, Anand also refused to reveal any financials. However, according to him, the company’s market share in decorative paint segment is close to 2 per cent. At present, decorative paint sales account for a lion’s share in the paint market.
The company currently has around 2,000 dealers across the country. going forward, the company executives are looking at adding around 200-300 dealers every year. This would help strenthen Nippon’s on-ground presence.
The paint manufacturer has tied up with National Institute of Fashion Technology, Chennai to create design patterns using the special effect paint, which could be used by the customers to paint and decorate their walls in part or in whole. It has also shortlisted nine design patterns created by the students, which will be showcased as part of its promotional campaign.
The Momento has been launched in three variants, Elegant, Enhancer and Dzine. The new product range is to primarily targeted at home owners who are looking to redo their homes to match their personalities, said Anand.