The Telegraph
Friday , November 20 , 2015
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Locker unit new key to Godrej growth

Mehernosh Pithawalla in Calcutta on Thursday. Picture by Kishor Roy Chowdhury

Calcutta, Nov. 19: Godrej and Boyce Manufacturing is eyeing an over 16 per cent rise in turnover from its security solutions division this fiscal.

"We are targeting a turnover of Rs 860 crore in this fiscal for our division. Last fiscal, the turnover was Rs 740 crore," said Mehernosh Pithawalla, associate vice-president and head (marketing) of Godrej Security Solutions.

Pithawalla today launched Goldilocks, a portable personal locker, in the city. Priced at Rs 6,499, the company claims it to be the first of its kind in the world. "We had launched Goldilocks in Mumbai last month and the response was immense. In the next six months we are hoping to sell at least one lakh units across the country," he said.

The company has sold 5,500 units of the product and hopes to sell 1,000 units within the next one month in Bengal.

Goldilocks is manufactured at the company's Mumbai unit having a capacity of 7,000 units per day. The capacity will be ramped up to 15,000 units in the next three months.

"We have invested Rs 20 crore in research and development as well as in manufacturing Goldilocks. We will spend another Rs 15 crore on its marketing," he said.

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