 brand talk where insights meet innovation in the world of marketing. Today, we're thrilled to host Mr. Anil Gurnani, the Chief Sales and Marketing Officer for TTK Prestige, a legacy brand that has come a long way with its consumers. I'm sure we've all heard of the famous jo bibi se kare pyaar wo prestige se kese kare hankar. And the brand has evolved with consumer mindsets and preferences and stood the test of time. The brand recently also came up with the proposition that cooking has no gender. So welcome, Mr. Gurnani, it's a pleasure to have you here. Thanks, thanks. And it's a pleasure to meet you here. Definitely. Thanks a lot for this invitation. You're welcome. And I mean, we just spoke of, you know, how TTK Prestige is a legacy brand and the journey has been remarkable. So if I would ask you to chat down some pivotal moments that have shaped its evolution into the brand that it has become today, what would they be? Looking at the pivotal moments, in fact, the first thing I would talk about, you know, the GRS safety technology that we brought into in cookers, the earlier, earlier days in 1950s and 1960s, pressure cooker was not a safety device to be considered in the house. So there were various hazardous issues with that instrument. But we came up with a GRS technology, you know, where it made that cooker as a category in itself of safest instrument to be having in kitchen. So that gave a big boom to the industry as well. So that in fact, you know, we never patented that technology because we wanted others also to follow because this is something which is in the safety of the consumers. So as a category, it evolved over there and we definitely gained the most over there. That's why we are having till now, you know, more than one third of the market share in India in pressure bookers. That was the first one other was in maybe, you know, in 1990 2000. So we diversified our businesses into appliances. Till then, we were only in cookers and cookware known to be a leader brand in these categories. So when we entered into the appliances category, so we came up with a whole range of appliances, mixer grinders, induction cooktops, kettles, okay, gastros and all. So that was another moment which gave that pivotal growth to the organization where we are right now. Post that, in fact, you know, in 2010 or so, I think the another moment that came across was our distribution strategy that starting our exclusive stores that we have. So we have close to around, you know, 700, 800 plus exclusive stores ban India over there. And this was a time, you know, at that time, there were no big buzzers and all also was just imagine that kind of a scenario where you are and envisaging a retail network which sells exclusively your products, okay. So that definitely was a big moment for the organization. And that has again given us a good growth to know what we are. So we have more than 700, 800 exclusive stores that I'm talking about and we, and it contributes to more than 15% of our sales over there. And these, these stores, it's not only about the sales that they have given it to us, but the closeness to the consumers. Because, you know, as a, because now we are not as an only as a manufacturer, but we are also as a retailer. Okay, we have, we wear a hat of a retailer also with so many stores in India. So that becomes, you know, you become very close to the consumers, understand their needs, you know, what is going around, how is the market dynamics are. So that and it also gives an opportunity to, you know, display our whole range of products, which, you know, normally you won't allow other people won't allow it, the non exclusive ban stores, but definitely here you have the overall liberty to control the pricing, the display, the products, understanding the consumers. So all these things I would, I would talk about these main three pivotal moments for the organization, due to which, you know, we are the market leader in this organization, investigation appliances industry, where in our second player is not even half of us, right. That's interesting. So basically staying ahead of the curve and thinking, you know, yeah, that's ahead of times innovation, not only in products, but also in distribution. So these things have actually given us, so the core crux has been innovation, honestly, for the organization. Right. So you spoke about, you know, having the market share, which is the competition isn't even half of what you have. So that's a big number. And I'm sure that comes with, you know, a certain commitment to quality and customer satisfaction. So if you could also elaborate on what the core values are for the brand, when it comes to the promise to its consumers, and how these also translate into the product and the service. Yeah. So see, we always have believed that prestige as an organization, if we want to enter into a category, so we want to enter into a category where we can add value to the time. So we just don't want to be a me to brand. Okay, just copying what others are having and just get sales from it. Okay, because the core DNA of the organization is innovation. Over there. So that's why if you really see in whatever categories that we have come up. So pressure cooker, which was our original category. So we have got the switch cooker, okay, which we have patented and still now it's, you know, the strongest, you know, the innovation that the industry has over there, which, you know, a spill-free cooker. Okay, then we got in with the switch technology, we came into gas doors as well, where, you know, you can lift the burners and clean the platform very easily over there. We have then when we went into chimneys, for example, so we got into a safe sense technology, wherein you can, you know, it's it gives a sensor. So for example, if there is a gas leakage or anything, the notification goes to the consumer on mobile, okay, that there's a leakage of gas and the chimney gets off automatically over there. Then we have IOT enabled kettles and all. So wherever we have been, you know, got into any category, we have got that we need to add value. We need to look at what are the unmet needs of the consumers, which no other competition is giving them. And if we can, you know, resolve those pain points for them. In fact, during the COVID days, we were the first organization to bring all the kettles and induction cooktops in India and get to that level over there, because those were the days and, you know, and these were the latest trends that were being coming around, people were cooking from home and all. And that was the time, you know, we thought ahead of the curve and what these products in India and still we are the market leaders in these categories as well. Right, right. I'm sure. And having you here and not talking about marketing would be like a sin. So I also wanted to understand, you know, how are you sort of, you know, what is the strategy that you have for marketing prestige and, you know, how important is it for the overall strategy as a brand? See, as an organization, if you really see an industry where we are, see kitchen appliances is an industry wherein the consumer is highly involved. Okay, because it's a core, it reflects. So the cuisine that you make in those appliances, okay, it actually reflects your culture. Okay, so for example, the same appliance will not be used by a North Indian, it will be used in a very different way where in the South India, people will use in a different way over there. Okay, the same cuisine will be made in certain appliances in some market and in other market over there. So when you look at, you know, marketing as a function, you need to really look at so when you have a product strategy. So one thing we are very clear that, you know, we have to look at every market differently. Okay, so there has to be a immense sort of customization that you need to do, not only in terms of products, okay, but also in terms of the communication that we want to give. Okay, in terms of the media that you want to choose in marketing, so it all involves, you know, all customization, because honestly, for India as a country, every state in itself is a different country altogether, honestly. So you need to think differently over there. And that's the reason why as a brand, we are the only brand with who have a presence pan India. Because if you really see why other computers are not even half, the only reason why because they have been, you know, concentrated on certain geography, some brand is strong in North, some brand is strong in East, some brand is strong, strong only in South over there, but we have been able to, you know, have a presence at a pan India level. And that is only because, you know, we have thought of each geography differently, worked out all our product marketing and the communication strategy for that geography. Just to give you examples, you know, for example, in bookers, so North will use only inner lid booker. Okay, South will use only outer lid bookers. There are brands who are only in inner lid, some are only in outer lid, but we are with all the types of bookers that we have. So we cater to not only, you know, the North Indian consumers, but also the South Indian consumers over there. Okay, so there are various other nuances. For example, you know, a Andhra Pradesh and Telangana, okay, due to some reasons, you know, so they don't take a three burner gastos. Okay, that's in auspicious for them. Okay, so you need to give a two burner and a four burner. Okay, so I'm just giving you some examples, you know, so how you have to think through, because accordingly, you have to communicate all your offers, all your product offerings to those geographies. Because for example, I can't show outer lid cooker and a consumer offer in print in North. Yeah, I can't show a three burner gasto in AP and Telangana over there. So these are various things you need to really think of by planning your entire, you know, marketing strategy that each geography has to be treated separately and how you want to communicate and what to communicate. So offers are also totally different. And these things have only, you know, given us that kind of strength that we are right now. Right, so basically understanding the, you know, basic fiber of the culture and geographies and, and since, you know, as we have, you know, as I told you 700, 800 stores, so we are a retailer also in a way over there. So we need to know, for example, in Delhi, what kind of products I have to display. Okay. Accordingly, some, there might be a certain change in North also, for example, UP, there might be a different South Chennai would be something. Yeah, would be separate. Okay. So as a retailer, also you have to think because constantly think that, you know, what kind of products you need to display over there, what kind of promotions you want to offer. So these things, you know, have given us a good insights to the consumer as well and how to behave to them. Right. So you very rightly mentioned that geography plays an important role in marketing, but then also various demographics in terms of age also comes in play. So traditionally, cookers were sold to housewives and homemakers earlier, not now, but now people have moved out of house, women are working and, you know, both partners are cooking at home, young people are coming into, you know, the picture who love to cook. So how are you sort of engaging that demographic, where the GenC or the say, late millennials who are interested in cooking can, you know, become your consumers. Yeah, you're totally right. So initially, you know, in fact, earlier when we were thinking of marketing, our TG was, you know, mostly maybe around 30 to 45 year old women. Okay, that was the initial TG. Okay. But total nowadays, the dynamic has completely changed. The market has changed. Number one, it is no longer a 30 plus only. Okay, there is a 20 plus younger generation that you need to think of over there. Number two, it's not only women, it's men as well, the boys as well. Okay, so the completely TG has changed for us, definitely over there. And accordingly, we are getting those products because see, we also know as a organization that, you know, we need to connect to the consumer as soon as possible. So for example, if you really look at how the journey of a consumer goes, so for it's not now without that 25 plus or 30 plus only first time gets into the kitchen. Okay, younger generation 15 plus 16 plus 18 plus are getting into kitchen, maybe with a small equipments, okay, like a kettle or induction cooktop over there, but they are started communicating to the with the kitchen appliances over there. Okay, so we are also thinking in those lines and how to communicate those. So maybe in the during the journey, I will have to attract the younger consumers with the kind of products like kettles and induction cooktops. Okay, and these people only when they become elder, they will go into my cookers cookwares and mix a grinder products over there. So we need to contact this consumer as early as possible. So they are getting associated with the brand from the younger age as well. So one thing we know that as a younger generation, things that they are really looking at is definitely the convenience is and the aesthetics. These are the primacy safety has become a hygiene for them. Okay, safety is no longer or something on the basis of which, you know, you buy a product because that is supposed to be a hygiene that and prestige of the brand, they believe that that is something given. What beyond that, what beyond. So definitely we look at convenience and the aesthetics part for the younger generations over there. So that's why we have called come up with all the IoT enabled kettles, chimneys, a few of the examples in the products where it gives and we have got multi cookers as well, you know, a small kettle like cooker wherein you can at least, you know, boil your eggs, make Maggies, okay, do your at least make your idlies over there in a kettle itself over there because this younger generation, you know, when they are living in a PG or in a hostel, you know, these are things they tried to, you know, first acquire as a bachelor. So these things we really try to look at that what can we use you do for these younger generation people as well. Right, right. You rightly said that safety is no longer a premium. It's a hygiene, especially for a brand like yours. Also, you really spoke about your distribution network in the beginning and you said you have around seven, when you began, you had about seven to 800 retail stores. So what is the strength today and what other channels do you employ to ensure your products reach the right audience? See, as an organization, we are fairly placed in across the channels. So we are into general trade for distributors. So we have close to 600 plus distributors who sell to more than 30, 40,000 retailers. These are all multi branded dealers to say. So we are building close to 40,000, 50,000 retailers in a year. Okay, through these 600, 700 distributors. Number two, we are presented to e-commerce channel because that is some channel that you can't definitely avoid nowadays. Okay, at least 20% of the market of EI believe that still is an e-commerce. So we are market leaders in the big e-commerce platforms as well. We are, if ourself, they're registered as a seller in all these platforms. We are going strong into our D2C channel as well. We are working around with our channel and we are significantly gaining shares from this D2C platform as well. Number two, number three is talking about the exclusive stores that are talked about, the franchise stores. So we have close to 700, 800 stores pan India level and we have been adding more than 100 stores per year over there. Okay, so that is one channel where we are exclusively to these franchise outlets over there. So we are strong over there. Other thing is the government channel. So we are present fairly into CSD, CPCs of the world. Okay, well, we are supplying to all these government channels over there. So and the rural is another part of the MFI business because the 40, 50,000 retailers that I talked about are more into urban. So rural it is through MFIs and all the numbers wouldn't be there. But definitely there's another set of big amount of retailers that we serve through these MFI channels in rural sales. Right. So if I had to ask you like percentage wise, what person would you say comes from online versus offline in terms of sales for you? See, if you divide it offline versus online, it's basically it would be 80, 20. 20% is online, 80% is offline. Now in 80% we have various channels. So as I talked about, there are distributors and stuff. Right, so Make in India has been a very significant initiative into sort of post domestic manufacturing. So how does TTK Prestige align with this? And how has it impacted your approach to manufacturing at large? That's a big thing you talked about. And thanks for taking this out because we are very proud by talking on this because we are the first organization and I would say the only organization which has taken this stand of completely making it in India. Okay, right now also if you see, none of our FG products are getting imported from outside. Okay, more than 90% of components are also sourced in India itself. Okay, so I think during the COVID days we have taken a stance that we want to make completely in India. We don't want to import anything from outside. Okay, so last five years we have taken that stand. Okay, honestly it's a very tough call to make. Okay, and when you are in an industry, wherein it's fairly dominated by the players from outside of the world, wherein you can get easily import new products from their sell it and okay, then maybe if you don't make margin also that's fine and going around it. But against that to make an investment in all the machinery, the tools, everything involving getting involved in committing into that category is a very different thing. But we took that call five years back. Okay, and because of that, we have to stop certain categories as well because there were certain categories which was not easy to replicate in India. Okay, because cost were very high as compared to what we are importing, but we took that call and we stopped those categories. Okay, but 95% of the categories we continue and we have done all the backward integration for our in-house manufacturing and with our co-makers as well over there. And during these five years in fact it's a great work done by the team over there to making everything in it. So right now the supplies are completely backward integrated over there. Each and every component is also made in India, the motors, the mixers, the chimney glasses, everything is made in India. You don't buy anything from outside over there. And over the years definitely it has definitely when you start you feel you take those tough calls and initially it's an increment of cost that you bear because of everything you can't match. But over the years we have realized now we are in a certain level that in fact we have caught our costs far below than what we are importing earlier. So over the year definitely as an organization we feel it has got a big benefit and it has gone a good boost to our domestic manufacturing as well. That's really commendable I mean. I'm sure you talk so much about innovations. I'm sure there must be something happening at prestige that you know will soon uncover. So anything in the pipeline that maybe you'd like to share with us what we can look forward to from the brand. There are various things okay there are you know certain so as I talked about chimney is okay so we are launching a particular model where in you know see normally when you install a chimney at your house in kitchen the biggest pain point of the consumer that came from a survey as well that it was the sound that it makes. So now we have come up we are coming out with a chimney where in you know your motor can be kept outside the house. So just like your split a seat. So how you can keep the so there is no you know noise inside the house okay you can just have a duct and where in you know you can place the motor outside over there. So this is one of the innovations that we are working around and we quickly are launching it in market over there. Another I talked about this with a safe sense technology chimney as well just recently last three months back only we have launched. So that's also you know talks about how we care about the safety of the consumers and the convenience part as well. So it's a IoT enabled you know one is you get all the notifications you can switch on switch off and when there is any safety hazard that gas leakage it gives you that notification as well and turns the chimney on automatically over there. So that is the other you know you know innovations that we are talking about an induction cook toss we are coming up with you know various hybrid kind of products okay you will see in the market where it is a hybrid of gas tows and induction both infrared and induction both. So there are lots hold I can keep like this. So lots of things been planned and mostly all these you know insights have come from the consumer service talking about their pain points. The majority what we focus every time is you know so whenever there is a proposal of a new project that comes to my table the first question I always ask you know what pain point it's going to solve the consume. The first question is that okay the pricing margin and all the things are different other things but what is it for the consumer what are you going going to give him differently than what the other competitors are not giving. First question we always ask while looking at any new product purchase. And that has been the DNA for the organization and helped us and made us the market leaders. Right right. Any market trends in particular any consumer preferences shifts that you are seeing in the category specifically. Yeah definitely see nowadays what's happening is if we look at one is I talked about the induction cook tops. So if you really see the penetration for induction cook tops is fairly low in India okay. So for example if I talk about gas tows okay if the penetration level is 80 percent plus. So 80 percent plus household have a gas tows in urban okay in urban population. But when I talk about the induction cook tops it's hardly 10 percent okay. So that that penetration is one thing which is going up okay. People are more and more you know looking into it. So firstly definitely they will start with as in having as a second option but nowadays more and more consumers are also looking at as the only option as well okay. Other thing is what's happening is you know governments are giving subsidies on the electricity for using the induction cook tops okay. That is also boosting the category. And now as you would have heard the there is a new project that has been launched by PM on talking about one crore households to be you know installed solar panels okay. So more and more you know solar energy comes from the households. So electricity becomes virtually free for you. So more and more there will be a penetration of categories like induction cook tops okay. So that is one category that we can see the various penetration increase. Another is chimneys as well okay more and more people are going into that. Still the penetration for that category is also low over there. So these are certain things definitely we are seeing and we are keeping a watch you know and we are being having a pioneer in these categories. We want to keep a watch and continue that trend and be ahead of everyone. Thank you so much for taking the time out. I mean great insights. So thank you for your time today and a great pleasure talking to you today. Thank you. Thanks same here. Thank you. Thanks a lot.