Prestige Clean Home, the fledgling division of TTK Prestige, recently unveiled the world’s first electric mop and a new range of water purifiers.
Prestige has been a pioneer in kitchenware products. What was the idea behind entering launching clean home products?
The Hero mop seems to be made for a sophisticated, urban crowd. Who is your target reach?
True it seems like a product which is easy to handle for the urban population. We are looking at steady sales of this product mainly in urban and Tier I cities.
If the product is for the urban population, how do you plan to enter these homes, which mostly have working couples and may not have time to use the product?
Honestly, we don’t know too. When the product was conceptualized and when our R&D team worked on it, we thought there was a need for such a product in the market. We will now have to see how the market will open for this product.
What are your fiscal targets?
We are expecting a slow growth for this product and we believe only word of mouth can enhance sales. We believe the clean home products will contribute to about 8-10% of the topline of TTK Prestige in the next three years. As per our targets, we hope to be an Rs 5,000 crore company in the next years.
What are your expansion plans?
TTK Prestige will continue to focus on the clean home range for the next few years. We have decided not to enter fans and geysers as the market is overcrowded. Our innovation and R&D will be focused on improving the clean home range of products.
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