Stovekraft Limited, known for its innovative range of Cookware, Kitchenware Appliances, and Consumer Lighting, has introduced its first-ever exclusive Pigeon Brand Outlet in Mayur Vihar, New Delhi. This strategic initiative signifies the company’s debut in exclusive retail establishments within the North Indian market, highlighting its dedication to fulfilling the rising need for enhanced in-store shopping experiences. With intentions to launch an additional five outlets throughout the Delhi-NCR region in the forthcoming quarter, the brand seeks to reinforce and expand its footprint.
Encompassing a space of 610 square feet, the recently inaugurated Pigeon brand store in Delhi marks a notable stride in expanding Stovekraft’s presence across North India, strengthening its standing in the nationwide market. At present, the company manages more than 124 exclusive retail stores spread across Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, and Telangana.
Rajendra Gandhi, Stovekraft’s Managing Director, underscored the firm’s commitment to supplying superior products to Indian homes. He highlighted that Stovekraft’s primary goal is to introduce top-notch kitchen appliances to a wide audience. Their aim is to offer items that elevate the cooking experience for every household. Gandhi expressed enthusiasm about inaugurating their inaugural outlet in North India, marking a new phase in their endeavour to provide dependable and inventive solutions to their clientele.
The recently launched Stovekraft outlet in Delhi epitomises the company’s dedication to delivering top-tier kitchen appliances and unparalleled customer care. Showcasing an extensive range of offerings, encompassing gas stoves, chimneys, pressure cookers, cookware, and diverse small household appliances, Stovekraft endeavours to establish pioneering benchmarks within the kitchen appliances sector.
Mayank Gupta, the Chief Growth Officer at Stovekraft, conveyed great excitement regarding the company’s expansion into North India. He highlighted that inaugurating the 125th store in Delhi stands as a proud moment for Stovekraft. The team is eager to introduce their innovative and dependable kitchen appliances to the discerning consumers in North India. This event signifies the initiation of their expansion strategy in the region, with intentions to launch about 5 additional stores in the Delhi NCR area within the upcoming 30 days.
Stovekraft has affirmed its target to expand to 150 stores by the close of December 2023, alongside unveiling intentions to inaugurate an additional 150 stores in 2024. Dr. M Nanda, Chief Marketing Officer at Stovekraft, underscored their role in amplifying the brand’s presence and building trust among customers. He stated that these physical stores play a crucial role in establishing deeper connections with customers by providing an immersive experience for them to engage directly with the products. This, in turn, not only enhances brand visibility but also nurtures a sense of trust and loyalty among consumers. The company is confident that its expansion in the retail sector will notably contribute to fortifying the Stovekraft brand.
Stovekraft Limited’s shares were recently traded on the BSE at Rs. 481.35, demonstrating a strategic manoeuvre amid the company’s expansion strategies. The stock was actively traded, tallying 7,434 shares across 456 transactions. It reached an intraday peak of Rs. 491.65 and a low of Rs. 479.60, culminating in a net turnover of Rs. 3,592,474.00 for the day.
