Economic Times, Kolkata Bureau, Sept.22

In an effort to corner a sizeable portion of the Rs. 1,500 crore low-end locks segment. Godrej & Boyce has decided to launch 'Shakti' - a range of low-end locks, which are still secure enough.

'Shakti' will be Godrej's latest brand after 'Ultra', which was launched 10 years ago. According to Kartik Modi, head sales and marketing at Godrej's lock division, the new lock range will, however, not be manufactured by the company itself. Instead, Godrej will import some of these locks from China and source the rest from local manufacturers.

"We will not compromise on the security features of the locks. Difference in price will be achieved through use of cheaper material for the low-end brand" he explained. Godrej has embarked on a three-pronged strategy to fuel a 50% growth in the next three to five years. It plans to expand its high end range, consolidate its existing categories and enter into low-end segments. It has signed an MoU with Austria-based Evva & Co to manufacture 3-curved system locks(3CS). 3CS are cylindrical high-end locks for specialized security solutions. "While Godrej is free to sell some of it in the local market, the bulk of the products will be sourced by Evva, " he said. The company has also decided to launch as many as 50 new categories of locks.