Stovekraft forays into North India with the launch of its First Exclusive Pigeon Brand Outlet in Delhi

Stove Kraft Limited, a leading name in innovative Cookware, Kitchenware Appliances, and Consumer Lighting, has launched its first exclusive Pigeon Brand Outlet in Mayur Vihar, New Delhi. This marks the company's first exclusive retail store foray into the North Indian market. The objective behind this is to meet the growing demand from consumers seeking better instore shopping experience. The company intends to open 5 more exclusive stores across the DelhiNCR market in next 30 days.

The exclusive Pigeon brand outlet in Delhi covers an area of 610 square feet (sq ft). This strategic expansion of exclusive brand outlets enables the company to increase its footprint in North India, thereby enhancing its market position in the country. Currently, the company has 124 exclusive retail outlets across Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, and Telangana.

Mr. Rajendra Gandhi, Managing Director of Stovekraft, highlighted the company's commitment to delivering quality products to Indian households. "At Stovekraft, our mission is to bring high-quality kitchen appliances to the masses. We believe in providing products that enhance the culinary experience of every household. With the opening of our first store in North India, we are excited to continue our journey of offering reliable and innovative solutions to our customers."

The new Stovekraft store in Delhi is a reflection of the company's dedication to providing top-notch kitchen appliances and unparalleled customer service. With a comprehensive range of products, including gas stoves, chimneys, pressure cookers, cookware, and many small domestic appliances, Stovekraft continues to set new benchmarks in the kitchen appliances industry.

Mr. Mayank Gupta, Chief Growth Officer at Stovekraft, expressed his excitement about the company's foray into North India, stating, "The opening of our 125th store in Delhi is a moment of pride for Stovekraft. We are thrilled to bring our innovative and reliable kitchen appliances to the discerning consumers of North India. This marks the beginning of our expansion plan in the region, and we aim to open approximately 5 more stores in the Delhi NCR region within the next 30 days."

Stovekraft also confirmed that it will have 150 stores before the end of December 2023, and plans to open another 150 stores in 2024.

Dr. M Nanda, Chief Marketing Officer of Stovekraft, emphasized the role of exclusive retail outlets in elevating the brand. "Our retail presence is integral to establishing a deeper connection with our customers. The physical stores provide an immersive experience, allowing consumers to interact with our products first-hand. This not only enhances brand visibility but also builds trust and loyalty. We are confident that our retail expansion will contribute significantly to the elevation of the Stovekraft brand."

As Stovekraft embarks on its expansion journey in North India, the company takes pride in the overwhelming love and acceptance received from consumers across its existing stores in South India. This positive response from customers in the south has been instrumental in motivating Stovekraft to extend its footprint.

Stovekraft remains dedicated to upholding the trust placed in us by consistently providing reliable, high-quality kitchen appliances that enhance the culinary experiences of households. We look forward to extending this tradition of excellence to our new store in Delhi and beyond, as we continue to innovate, elevate, and serve the diverse needs of our cherished customers.

Shares of Stove Kraft Limited was last trading in BSE at Rs. 481.35 as compared to the previous close of Rs. 486.20. The total number of shares traded during the day was 7434 in over 456 trades.

The stock hit an intraday high of Rs. 491.65 and intraday low of 479.60. The net turnover during the day was Rs. 3592474.00.

Source : Equity Bulls

Keywords

StoveKraft INE00IN01015 NorthIndia First ExclusivePigeonBrandOutlet Delhi