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VCGuy
Believe me, itās not...Ā ā¢Ā 2m
Prestige began in 1955 as a pressure cooker brand. Back then, Indiaās middle class was small, urban kitchens were basic, and cookware was purely functional. 'Jo biwi se kare pyaar, woh Prestige se kaise kare inkaar?' More than a slogan, it became Indiaās culinary love story ā¤µļø In the 1980s, many Indian households were still wary of pressure cookers due to fear of accidents. Prestige flipped the script. They introduced safety valves, gasket release systems(GRS), and later, pressure indicators ā making 'safety' their USP. Cook 'fast and safe'. Trust became Prestige's biggest ingredient. By the late 80s & 90s, Indian kitchens were evolving ā and so was Prestige. From pressure cookers, they moved into non-stick cookware, gas stoves & later, a full range of kitchen appliances. TTK Prestige operates at revenues of ā¹2,500 Cr but even after 70 years, their growth story seems far from over. Pressure cooker penetration in rural India is low (<35%). CEO Venkatesh Vijayaraghavan is betting on a multi-pronged growth strategy to get to ā¹5,000 Cr revenue by FY27ā¤µļø ā¤· Expanding store footprint by 30% over four years, especially into smaller towns, to tap rising rural consumption. ā¤· Injecting fresh energy via a strategic roadmap built with a global consultant, investing ā¹12 Cr to reboot growth. ā¤· Doubling down on premium products, new SKUs, and exports (exports alone aiming for ā¹500 Cr by FY27). Rural India drives just 20ā25% of small appliance sales, and gas stove penetration is still under 70% despite Ujjwala Yojana. āļøWith 15ā18% of households upgrading to premium & smart cookware, the growth runway is wide open.
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