"Godrej & Boyce Announces ₹40 Crore Investment Over Three Years for Distribution Expansion"

Godrej & Boyce, renowned for its consumer brands spanning interior solutions, furniture, appliances, and locks, is set to invest approximately ₹40 crore over the next three years to bolster its distribution footprint in tier-II and tier-III cities.

According to a senior official, this investment initiative is expected to double the company's footprint to over 400 towns by the fiscal year 2027. The company intends to allocate approximately ₹10-15 crore annually for store expansion and renovation over the specified period.

"We aim for a 15-20% annual growth in our topline, and the expansion of stores is a key element in achieving this goal," a company spokesperson stated to PTI, emphasizing the significance of this investment initiative among various strategic initiatives.

Responding to inquiries regarding the expansion's execution, the spokesperson clarified that it would be a combination of company-driven and channel-driven endeavors.

With a revenue of ₹14,796 crore in FY23 and a presence across over ten industries, including engineering solutions, consumer appliances, furniture, locks, and security solutions, as per the company website, Godrej & Boyce aims to go beyond mere expansion. Anil G Verma, the Executive Director and Chief Executive, affirmed their commitment to tailoring market-specific product portfolios to meet regional consumer needs.

The company's strategies include enhancing retail presence, innovating customized products, and establishing a robust and sustainable supply chain to leverage market potential. This investment underscores Godrej & Boyce's dedication to furthering its presence and meeting evolving consumer demands in emerging markets.

HBL