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Target to increase market share to 10 per cent in 5 yrs
Coimbatore, Jan 24 (PTI): Leading eco friendly paints manufacturer Nippon Paints today said it is aiming at increasing its market share to 10 per cent in the decorative paint segment in the next five
Coimbatore, Jan 24 (PTI): Leading eco friendly paints manufacturer Nippon Paints today said it is aiming at increasing its market share to 10 per cent in the decorative paint segment in the next five years from the present three per cent.
The company will consolidate its position in the South and maintain it in the West and Northern State to achieve the target, President Decorative Nippon Paint, Mahesh Anand, told reporters here.
Anand, who was here to introduce a new Customer-centric Select Store at nearby Tirupur, said the company was also looking at strengthening its position by reaching out to people in Tier II and III ares.
Moreover, the company planned to increase the depot network to 20 from the present 14 by 2018 so that distribution becomes easier, he said.
Though Nippon Paint as a brand was yet to make a dent even in the South, it was available in close to 2,000 stores out of the 45,000 plus outlets selling paints across India, he said.
The company was registering an average annual growth of 15 per cent as against the national average of 10 per cent. It witnessed a four to five per cent dip in business in the last two years and the recovery would happen in another two to three months, he said
Attributing the lesser growth of the decorative paint sector to decline in new painting segment and not so good economy sentiment, Anand said there was also a slight slump in the real estate market.
Stating that the company has started a skill development centre for painters in Chennai, which has already trained 100 persons, he said there were also plans to start such centres here and at Madurai, Tiruchirapalli and Tirunelveli.
On the store in Tirupur, he said the 2000-square foot revamped store offers end-to-end painting solutions from products to painting services, which would be extended to other places.
The painting service would be by professionals trained at Nippon Paint Painters Training Academy, he said.
This is published unedited from the PTI feed.