920
/ 3
Min Read
Stove Kraft Limited, a leading name in India’s kitchen and home appliances sector and the force behind brands like Pigeon, Gilma, and BLACK+DECKER, has unveiled plans to expand its retail footprint aggressively, targeting 500 exclusive stores by April 2027. The company recently marked an important milestone by launching its 300th standalone Pigeon exclusive outlet, highlighting its strong growth trajectory and growing presence in Indian households.
Stovekraft’s retail expansion strategy is designed to cater to the diverse needs of consumers across both metropolitan and emerging markets. The company has made significant progress in Tier 1, 2, and 3 cities and is now intensifying efforts to strengthen its presence in North and West India. Key states like Uttar Pradesh, Maharashtra, Madhya Pradesh, and Bihar are expected to witness a surge in new store openings over the next two years.
“Our achievement of 300 exclusive stores is just the beginning,” said Rajendra Gandhi, Managing Director, Stove Kraft Limited. “We are focused on expanding our footprint further, especially in North and West India, where there is immense potential for growth.”
To support its ambitious target, Stove Kraft is actively inviting franchise partners to join its network of exclusive stores. The franchise model offers a unique rent-sharing structure, which lowers the entry barrier for entrepreneurs and ensures profitable collaboration. Franchisees benefit from comprehensive support including site selection, marketing, staff training, legal assistance, and operational guidance.
This approach not only accelerates Stovekraft’s expansion but also empowers local business owners to be part of a trusted brand with proven consumer appeal.
Stovekraft’s exclusive retail outlets offer a wide range of products, spanning kitchen appliances to essential home goods. Each store is designed to deliver a superior shopping experience with a strong emphasis on customer service and product knowledge. The company’s online price match policy ensures customers receive competitive pricing whether shopping in-store or online, further enhancing its customer-first reputation.
The company projects that standalone retail stores will contribute around 15-20% of overall revenue in the next two years, with the planned addition of 200 stores expected to be a major revenue driver.
The Indian retail industry is witnessing robust growth, with the kitchen and home appliances segment playing a critical role. According to a Deloitte-FICCI report, the Indian retail market, valued at USD 1.06 trillion in 2024, is projected to nearly double to USD 1.93 trillion by 2030, expanding at a 10% CAGR. Factors such as rising domestic consumption, digital adoption, premiumisation, and e-commerce growth are fueling this expansion.
Stovekraft’s retail strategy is closely aligned with these trends, positioning the company to capitalize on the growing demands of India’s expanding middle class.
Stovekraft’s financial performance reinforces its growth ambitions. The company reported ₹340 crore in revenues for Q1 FY2025, reflecting an 8.2% increase year-on-year, and expects to sustain a 15% annual growth rate over the next three years. Concurrent investments in manufacturing capabilities ensure that the company can meet rising demand both domestically and internationally.
“We are optimistic about our future,” Mr. Gandhi added. “By continuously investing in innovation and expanding our retail presence, we are preparing Stove Kraft to serve the next generation of customers with quality and reliability.”
