TTK Prestige to enter new segments

The Bangalore-based TTK Prestige, traditionally a pressure cooker manufacturer and part of the Rs 1,100 crore TTK group, is planning to start marketing of crockery and wet grinders.

The move is part of its ongoing efforts to move away from the bottom end of the market.

The company had decided four years back to move up the value chain and began marketing microwaves, hobs, electric chimneys, mixer grinders, food processors, oven toasters, kettles and blenders. It claims to have launched 52 products over the past six months.

Pressure cookers, which contributed to over 90 per cent of the company's sales by value in 2001-02 has now fallen to about 50 per cent though the sales volumes has gone up from 0.9 million units to 1.5 million units in 2005-06.

"Apart from extending our range in existing kitchenware we will continue with our strategy of introducing new products where the growth lies. Apart from small appliances and inner lid pressure cookers, growth will also be driven by expanding our geographic footprint across the country," said Chandru Kalro, Vice President (marketing), TTK Prestige.

"We had entered the north Indian market this year and 50 per cent of our growth in the pressure cooker category has come from there."

TTK Prestige is also in the process of expanding its retail chain with the number of exclusive outlets expected to go up from 164 outlets in 92 towns to over 200 outlets by the end if this financial year.

While the southern part of the country has been the company's traditional stronghold, it is trying to move into newer territories.

The revenue share of the company now stands at 50:50 for the southern market as compared to the rest of the country. This stood at 60:40 three years back.