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23 Sep 2022
23 Sep 2022
Asian Paints Ltd is an Indian multinational paint company, situated in Mumbai, Maharashtra, India. It is engaged in the business of manufacturing, selling, and distribution of paints, coatings, products related to home décor, bath fittings, and providing of related services. The company marks its importance in bringing innovations and effective strategies to escalate its business.
It has developed its business with the association of the B2C business model where it manufactures and distributes products directly to the consumers, via retailers and distributors. It holds its presence in a wide range of products and industries including kitchen, bath fittings, home painting services, interior design services, experience retail stores, color consultancy projects, sanitization services, waterproofing solutions, color consultancy, interior designing, and many more.
We want to be an innovative, agile, and responsive world-class research and technology organization that is aligned to future customer needs and catalyzes the growth of the company across existing and future businesses.
Asian Paints started its journey in a garage in Gaiwadi, Giraon, Mumbai with the efforts of Champaklal Choksey and his three friends, who founded the company in 1942. Before World War II there were some foreign companies and some Indian companies in the paint industries of India. During World War II, paint import was banned in India, by which the Indian companies got good opportunities in the paint industry.
Innovation plays a great role in the success of the company because the company has always innovated new product range as per the demands. It has placed a fixed thought in the minds of the people that Asian Paints is the best paint.
The company began its journey in a garage located in Gaiwadi, Girgaon, Mumbai. By looking at this opportunity, Mr. Champaklal Choksey along with his three friends, Chimanlal Choksi, Suryakant Dani, and Arvind Vakil, in the year 1942, he started Asian Paints in Mumbai. He was an expert in finding the consumption trend of paints, and he used to make strategies on the basis of those strategies. He started with decorative paints. Initially, he had a challenge that how to establish Asian Paints as a brand, and for that, he wanted the assistance of paint marketers, but he was ignored by the distributors of big cities.
The distribution network is very crucial in the paint industry. Mr. Chokey went to the villages, in the rural areas. He started his first distributorship in Sangli, Maharashtra. The shopkeepers in the city liked to directly approach the company, besides approaching the distributors. He found an opportunity on the festival of Pola which is celebrated in Maharashtra, in which the horns of the Bulls are painted, where bright paint was used in small quantity.
He also observed that the Bulls put their horns in the mud, so the quality of paint must be long-lasting. He found this exceptional opportunity and put his step into it. To grab this opportunity, he launched small boxes of bright paints. He used to analyze the small things and find the demands, and then he ultimately used to launch the products. As soon as the demands for Asian Paints got increased, the distributors of other cities went to take the distributorship of Asian Paints who were initially not willing to take the same.
The founder came up with Washable Distemper, which gained great success in the market. With this success, Asian Paints became a famous paint company in India in 1967. To increase the network and business, the company started hiring talented candidates from the colleges. This decision of promoters proved to be beneficial for the future. The company focused on technology since beginning.
The highly revered brand mascot, Gattu was the creativity of the legendary RK Laxman and helped the brand Asian Paints for many years. It was launched in 1954, which was a mischievous boy with a paint bucket in his hand. It found its fan base in the middle-class population of India.
During those times, when the paints were not getting advertised as industrial products, Asian Paints used to reach every house with the Gattu with his shock of black hair eternally dangling over his right eye became popular and became consumer-friendly and the company sales increased.
The company marks its importance in bringing innovations and effective strategies to escalate its business. It has developed its business with the association of the B2C business model where it manufactures and distributes products directly to the consumers, via retailers and distributors. Asian Paints came up with several advertisement campaigns to get associated with its target audience. The mascot Gattu brought by the company attracted the attention of the audience towards it. The Gattu especially attracted most of the Indian consumers, mostly the middle-class society.
The company spent around Rs. 8 Crores and brought a mainframe computer and became the first private company to own a computer. This computer marked its importance in analyzing the data, which helped the company in escalating its services and supply chain. It always took effort in improving the supply chain efficiency.
Asian paints target a whole range of customers such as homeowners, corporates, automobile companies, wholesalers, and distributors, and includes different products such as paints, chemicals, wall coverings, textures, painting aid, waterproofing solutions, and wall stickers. The company distributes its products and services through retailers, wholesalers, and distributors.
Asian Paints marks its importance in holding its presence in a wide range of products and industries including kitchen, bath fittings, home painting services, interior design services, experience retail stores, color consultancy projects, sanitization services, waterproofing solutions, color consultancy, interior designing and many more.
Revenue helps in keeping the business alive. Beyond being a lifeline, revenue can give you key insights into your business. If you want to increase your business profits, you need to increase your revenue. By keeping an eye on your revenue and focusing on increasing it, you can also increase your profits.
Asian Paints has brought 15.6% net sales growth in 2011, and the highest net sales growth i.e. of 24.3% in the year 2012, whereas it got 13.3% in 2013, and 15.7% in 2014. It earned 11.3% in 2015, and 1.9% in 2016, whereas it earned 5.5% in 2017. The company earned 11.7% in 2018, 14.4% in 2019, and 5% in 2020.
The institutions contributes around 28.3%, whereas 1% is contributed by individuals above Rs. 2 lakh, and 12.1% is contributed by individuals upto Rs. 2 lakhs. The promoter and promoter groups contributes 53.5% and 5.1% is contributed by others.
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