Godrej Locks plans foraying into South Africa, Russia

Godrej Locks, the country's leading player in locking and security solutions, plans to foray into global markets such as South Africa and Russia.
"We clearly have a systematic approach, a timetable and a road map of getting stronger on the international business front and adding more geographical locations.
"South Africa is a big market in itself. Russia is a big market for us," Godrej Locking Solutions and Systems Executive Vice President and Business Head Shyam Motwani told PTI here.
The company has a presence in Bangladesh, but it plans to adopt a new strategy to strengthen its footprint in that country, Motwani said.

"There is definitely a lot of work happening and there has been a systematic approach that has been worked out.
"A couple of years back, we concluded the 'Perspective Planning Exercise' that talked about our international strategy, of where we are going to be in 2022," Motwani said.

On the difficulties the company would face in achieving its target of becoming a Rs 1,000-crore entity in next two years, he said, "We have started de-risking our dependence on real estate vertical and really start focusing on many other industry verticals."
The 118-year-old-company and the founding business of the Godrej Group also unveiled the new Nav-Tal NXT lock.

The lock has been designed by ace industrial designer Michael Foley.
"A lot of my design sensibilities come from customer insight and a high attention to detail- both of which have been intricacy incorporated into the new Nav-Tal design," Foley said.
Nav-Tal NXT will be available through prominent e-commerce websites, in addition to the existing market distribution system and channel partners, Motwani said.