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<keyword id="6369697" type="General" weightage="20" keywordseo="Godrej" source="Orion">Godrej</keyword> &amp; Boyce on Tuesday said it will be investing Rs 100 crore over the next three years to acquire material handling equipment. Demand for renting the equipment is high and the capital investments will be by Godrej Rentrust eyeing a share of the same, a statement said. Pegging the overall market at Rs 2,200 crore, the company said it is eyeing business in the auto, engineering, chemicals and pharma, food and beverages, fast-moving consumer goods, logistics, ecommerce and retail sectors. In the January-March period, it received 100 orders from companies for deploying equipment, the statement said. <keyword id="17561767" type="General" weightage="20" keywordseo="renting-equipment" source="Orion">Renting equipment</keyword> has become a preferred option for businesses seeking managed services and bypassing high upfront costs, the company said, adding that it has grown at over 20 per cent per annum over the last five years. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nifty-sensex-now-at-reasonable-valuations-but-midcaps-small-caps-and-financials-still-have-some-juice-left/articleshow/100611412.cms">Nifty, Sensex now at 'reasonable valuations' but midcaps, small caps and financials still have some juice left</a> <a href="https://www.businessinsider.in/business/auto/news/mm-q4-standalone-net-profit-rises-22-yoy-to-1549-crore-misses-estimates/articleshow/100528645.cms">M&amp;M Q4 standalone net profit rises 22% YoY to ₹1,549 crore, misses estimates</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-not-jio-to-gain-the-most-from-vodafone-ideas-troubles/articleshow/100524707.cms">Airtel, not Jio, to gain the most from Vodafone Idea's troubles</a>

Godrej Group arm to invest ₹100 crore to acquire material handling equipment to be rented out

<ul><li>The pandemic has led to a complete overhaul of the retail industry where more and more people are looking for contactless consumer experiences.</li><li>To solve this problem, <keyword id="155300" type="COMPANY" weightage="20" keywordseo="Godrej-and-Boyce">Godrej and Boyce</keyword>’s premium furniture brand <keyword id="6382757" type="UNKNOWN" weightage="20" keywordseo="script">Script</keyword> is taking its stores live through WhatsApp.</li><li><keyword id="274281" type="PERSON" weightage="20" keywordseo="Rajat-Mathur">Rajat Mathur</keyword>, Business Head, Script by Godrej and Boyce talks to us about this strategy as well as everything else that the brand is doing to make its consumer experience frictionless.</li></ul>The country is slowly coming out of the lockdown. Malls and public places are being gradually opened. However, the fact still remains that the corona-crisis is far from over. India recently made headlines as the country having the maximum one-day jump in positive cases. It is therefore obvious that consumers, despite having an intent, might not feel comfortable in physically visiting shops and showrooms yet. This has thrown a major challenge for retail brands for which touch and feel is a very important part of the entire consumer journey. This challenge has made brands think out-of-the-box and come up with innovative, novel solutions to make consumers excited about their offerings. Script, a premium furniture brand from the Godrej and Boyce stable has recently come up with an innovative idea, to connect with its audience. It is taking its stores live via WhatsApp in 4 cities. The platform allows the brand to upload campaigns, catalogues, brand/product stories, while also building a direct contact with consumers. However, while strengthening its digital offerings, the brand is pretty confident that the brick and mortar stores will continue to stay relevant and people will come back to them soon. We spoke to Rajat Mathur, Business Head, Script by Godrej and Boyce who told us the brand’s efforts to build a stronger connect, to smoothen consumer journeys and also to make sure they come back to them, once things get back to normal. Excerpts: Q) What was the idea behind the <keyword id="9470958" type="UNKNOWN" weightage="20" keywordseo="whatsapp-store">WhatsApp store</keyword>? Have there been any logistical challenges of the WhatsApp store? Social distancing is likely to stay for a long time now, and we have always been looking forward to technological integrations in retail for enhancing the customer experience. The Whatsapp store is a versatile tool which helps us interact and engage with our customers. It’s almost like a micro site enabling rich content for our consumers. With a very simple user interface this platform allows us to upload campaigns, catalogues, brand / product stories and much more. It also helps us with customer query resolutions since it enables us to be in direct contact with them. It also helps us in giving virtual store tours to our customers. Also, since it’s a very simple application, we haven’t faced any logistical issues as yet. Q) What kind of reception have you seen so far? Can you share some figures, in terms of what kind of enquiries or actual conversions have you seen on your Whatsapp store so far? The response has been very encouraging. We have started getting a lot of enquiries on the Whatsapp store and have had conversions as well in most of our stores. The best part is that most of these conversions have large ticket values. Q) You have opened this facility in 4 cities so far. What are some of the other cities you want to take this feature to? We have started this initiative in Delhi, Gurgaon, Bangalore and Mumbai. We are also opening our Park Street, Kolkata store soon and have already implemented this there with the pre-cursor campaigns. Q) What will retail in this new world order mean? How will things be different once the lockdown is over completely? I think brick-and-mortar retail will continue to flourish post the lockdown. We will see a lot of technology integration in physical retail. This phase, if anything, will catalyze the omni-channel concept across industries and categories. Also, the success of a retail business greatly depends on its ability to adapt to the various lifestyle changes and be able to help its consumers have a seamless experience irrespective of the situation. With the world turning to the virtual aid, where the consumers cannot visit the store, we made the store come to them. The new world calls for a great sense of trust in any retail brand and to seed that, the retail industry needs to empathize, adapt and implement. Q) What role will technology play in the post COVID world? Necessity is the mother of invention and the COVID-19 outbreak proved this no end. As I said we can expect a lot of technology coming into physical retail. Phygital will be the new mantra across the country in the retail industry. A lot of technology based tools have already been developed and implemented. For the consumers, the post COVID era will greet them with a very different level of shopping experience powered by technology. Furthermore, there are organizations that are willing to continue the work from home model even after the post COVID world while there will be employees opting for the same as well. This makes us anticipate a growing demand for the multi-functional and work-from-home furniture like the Float Ecosystem, Lagoon Bed or the Dwell Ecosystem that will add to the efficacy of a consumer’s experience. Q) There has been an obvious increase in demand for home-office related furniture. Can you share how important this segment is for you right now, and what your area of focus going ahead will be? As the world goes through a pandemic, it is important to map out the challenges and opportunities for Script to communicate and stay connected with people. Clearly the following trends have emerged out during this phase and we believe strongly that these are here to stay for good. <ul><li>Home, which is the center of people’s universe, has become the new workspace</li><li>Focus on home activities with family</li><li>Furniture is central to all activities</li><li>Home aesthetics and functionality matter</li><li>Furniture is the new essential</li></ul> The work from home segment is extremely important for us and we are working on coming up with smart solutions towards the same with the intent of giving our customers the greatest level of experience while they work from their home spaces. We are in the process of designing compact WFM ecosystems which will be out in the market by November this year. While WFH is big today, Script is committed to providing creative solutions for other activities in the home space and those which are integral to today’s urban living. So we are working on creating solutions for binge-watching, socializing, reading, other me-time activities so on and so forth. Q) Being a retail, consumer-facing brand, what have your key learnings from the experience been so far? Retail will remain a relevant experience for both consumers and brands. It has become part of the society’s fabric; a ritual with firm roots in contemporary living. As such, retail is not going away anytime soon. For someone with a high disposable income, going to a retail store provides twin joys: the experiential joy of the place itself as well as the joy of taking part in a pleasurable, indulgent social activity. Since our stores reopened, we have been pleasantly surprised to see the level of footfalls we are getting. It is almost the same as last year for the same period. Thus, reinstating our firm belief that furniture is the new essential. During the lockdown people have had an opportunity to interact with their home space unlike ever before. Consumers also realized that this pandemic has led to a permanent cultural shift, WFH being a prime example. Also since furniture is a category which solicits touch and feel before a final buying decision is taken, physical retail in this category will never lose relevance. Q) Where will the next phase of growth for Script come from? What will your key areas of focus be, going ahead? Growth for Script will come from both, business from the existing stores and expansion through the new stores. We are relatively a new brand. Most of our stores have been around just for a year at most and we expect them to grow at inorganic rates. Apart from this, we are looking at adding 5 new stores every year for the next 3 years. The Pandemic has catalyzed online retail growth across categories. We are hopeful of improving our online sales. Definitely creating a great omni-channel experience for the customer is the way forward for us. Q) How did your marketing strategies change during the lockdown months, and going ahead, what will your broad marketing strategies be? During the lockdown phase, we moved forward with the following philosophy: <ul><li>Communication and messaging should primarily show genuine empathy and solidarity. People are seeking out smaller moments of joy and reasons that will distract them at least a little from the dark reality looming outside their quarantine windows.</li><li>By offering something that people want, positioning it as something that eases their guilt of purchase or helps them justify their needs will help build RELATIONSHIPS with the consumers. And the power of these relationships should not be underestimated.</li><li>Even going forward, we believe that merely regular brand messaging and product pushing will not work. Messages that relate to these lifestyle changes and are relevant to positioning the products as needs and essentials will reinforce the brand relevance.</li><li>We need to highlight ways in which the brand is doing its bit to give back to the community.</li></ul>

How Godrej and Boyce’s WhatsApp stores are ensuring social distancing doesn’t become a deterrent for sales

<ul><li><keyword id="141771" type="COMPANY" weightage="20" keywordseo="Godrej-Appliances">Godrej Appliances</keyword> said that it will augment production capacity by 1.9 million units by 2022. </li><li>It plans to introduce newer technologies and carry out backward integration. </li></ul>Godrej Appliances on Monday said it will invest Rs 700 crore to increase its annual appliance production capacity by 19 lakh units by 2022, taking it up to 65 lakh units per annum.
 The appliances maker also plans to introduce newer technologies and carry out backward integration.
 "Godrej Appliances is all set to invest another Rs 700 crore by 2022. This latest announcement takes the tally of Godrej Appliances' investment in capacity and technology expansion to Rs 1,100 Crore over a period of six years," the Godrej &amp; Boyce Mfg Co unit said.
 The fresh investment is aimed at raising the company's annual appliance production capacity by 19 lakh units by 2022, increasing it up to 65 lakh units per annum, it added.
 With this investment, Godrej Appliances plans to double the current capacity for washing machines - both fully automatic top load and semi-automatic - at its Shirwal and Mohali plants.
 "The brand also plans to introduce a new product line for fully automatic front load washing machines with annual capacity of 4 lakh units," it added.
 In the refrigerator category, Godrej Appliances intends to augment the production capacity by 33 per cent in both premium range and mass range.
 "The investment is also directed towards manufacturing of power-efficient chest freezers and 30 lakh units of compressors utilising newer technology in the product and processes. Part of the outlay will be for backward integration of air conditioners at the Shirwal factory," it added.
 Godrej Appliances has also decided to up the ante to amplify the on-going premiumisation focus.
 The company's Business Head and Executive Vice President Kamal Nandi said, "This investment broadens Godrej Appliances' capability and reflects its commitment to providing customers with exceptional products, while attesting our alignment towards 'Make in India'.
 "Through this expansion, we aim to take brand Godrej to even greater heights utilising our strength of manufacturing expertise. The proposed expansion, once complete, will allow us to meet the increasing demand for premium products from Indian customers better."
 Godrej Appliances, a business unit of Godrej &amp; Boyce Mfg Co Ltd, is present in the segment such as air conditioners, washing machines, refrigerators, microwave ovens and air purifiers.
 It has a network of 23,000 dealer and retailer outlets, and is present across India through over 100 exclusive brand outlets.

Godrej beats slowdown blues to invest ₹700 cr and expand its appliance production

<ul><li>Cousins Adi Godrej and Jamshyd Godrej are known to have differences in opinion on how to develop their massive land bank </li><li>Their grandfathers have founded the Godrej Group and have been acquiring this land since the 1940s. </li><li>Jamshyd has hired Nimesh Kampani of J M Financial while Adi and his brother Nadir have hired Uday Kotak and Cryril Shroff for negotiations.</li></ul>One of India’s oldest business families of India, Godrej has decided to split their enormous land holdings, tangled between themselves, to make way for real estate development, according to reports. Cousins Adi Godrej and Jamshyd Godrej are known to have differences in opinion on how to develop their massive land bank that extends over 3,400 acres in Mumbai. The Godrej family released a joint statement by Adi Godrej and Jamshyd Godrej, calling them ‘normal’ family discussions. 
 <div type="ExtQuote" text="We have been working on a long term strategy plan for the Group for several years. As part of this exercise, we have sought advice from external partners to help us think through options. The family regrets the sensationalist media coverage of these normal and private family discussions." auname="Statement by Godrej family"></div>

 Their grandfathers have founded the Godrej Group and have been acquiring this land since the 1940s. And a large chunk of it, around a 1,000 acres lies in the prime real estate areas of Vikhroli. While Adi heads Godrej Consumer and Godrej Properties, Jamshyd is the chairman and managing director of Godrej and Boyce. The closely held Godrej and Boyce is the owner of most of this land, while Adi’s real estate development company, Godrej Properties pays around 15% of the project revenue to them,<a href="https://economictimes.indiatimes.com/news/company/corporate-trends/godrej-family-may-rework-pacts-after-rift-over-land/articleshow/69966815.cms"> as per an ET report</a>. Now, however, both sides have hired investment bankers and lawyers to re-work family arrangements, in order to make way for Adi’s properties business to turn into the city’s largest real estate developer. Top investment bankers will be a part of tough negotiations to untangle the complicated family pacts. While Jamshyd has hired Nimesh Kampani of J M Financial while Adi and his brother Nadir have hired Uday Kotak the chairman of Kotak Mahindra Bank and Cryril Shroff of Cyril Amarchand and Mangaldas, as per a<a href="https://www.business-standard.com/article/companies/godrej-family-hires-top-law-firms-to-untangle-land-holdings-worth-rs-20k-cr-119062700056_1.html"> report by Business Standard</a>. The Godrej Group was founded by Ardeshir Godrej along with his brother, Pirojsha Godrej in 1987. Pirojsha’s sons formed the second generation as Ardeshir died childless. The third generation consists of Adi, Nadir and Jamshyd.

You Searched For "Godrej and Boyce" and got 4 results

Godrej Group arm to invest ₹100 crore to acquire material handling equipment to be rented out

PTI

How Godrej and Boyce’s WhatsApp stores are ensuring social distancing doesn’t become a deterrent for sales

Samarpita Banerjee

Godrej beats slowdown blues to invest ₹700 cr and expand its appliance production

PTI

A 122-year old Indian business family has hired bankers and lawyers to split the land of their fathers

Katya Naidu

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