Today, the demand for developing a high-tech kitchen is on the peak. The electrical and electronic manufacturing companies are more inclined towards building innovative designs & concepts for the kitchen system. Elica PB India Pvt Ltd. is one such renowned company which is known for manufacturing a wide range of unique and advanced kitchen products.
In an interview with Insights Success, Mr. Pralhad Bhutada, the CEO & Director of Elica PB India Pvt Ltd., shared his insightful views on the company’s distinctive products and services.
- Kindly tell us about your company.
In 2010 Mr. Pralhad Bhutada & Elica SpA the world leader in electric kitchen chimneys inked a joint venture & formed “Elica PB India”. Elica India is today’s one of the largest kitchen chimney brands in the country headquartered in Pune.
When Elica entered the market in 2010 there were immense opportunities to create a Brand impact in this market as there were very few international Brands existing and the market was wide open for a company which was known for its innovative concepts and design. The customer was also looking at a choice to make its kitchen with much more international flavor. Elica with the association of Mr. Bhutada was sure about the roadmap designed and the strategy to deliver more technology-based products customized for Indian cooking. The company had a very clear vision to offer the Indian consumer a technology-based product at a reasonable price making it a more value for money proposition along with an offering of a top International Brand. Considering the experience of Mr. Bhutada in this line for more than 20 years and the fact that he had a deep insight of this category was clearly an advantage for Elica to take the Brand and category forward. On the manufacturing side, Elica was also quite determined to indigenize to the best possible level without compromising on the quality of the product and more specifically on the critical components.
- What kind of services and solutions does your company provide that makes you stand out from the competitors?
Technological edge, lean structure, and superior product quality sets us apart from other players and is a part of our growth strategy. Also, we offer superior technology and design at an achievable price scale. Moreover, we never have quality issues and we cover the entire spectrum of customers from low to mid, mid to high and premium which no brand does at present. We have something for all!
Furthermore, most players are into trading, that is, they import the products and then sell. While at Elica PB India our core is manufacturing and not trading. That is what sets us apart from the other brands and we get a lead because of this current lag and lack in manufacturing prowess of other brands. We are able to offer better performance hoods at better prices.
In fact, we at Elica PB India ensure our products are competitively priced, offering the desired features, designs and aesthetics.
- Kindly brief us about the innovative industry trends?
Innovation is a key to any Brand success and sustainability of the Brand strength. Adaption of new technologies and continuous innovation is need of the hour. We at Elica have always believed in offering an innovative solution to the consumer at an affordable price giving the Brand a mass appeal.
Working on continuous technological and design innovations, launching more consumer-friendly products has been the key to the success of the Brand in India. At Elica we have been continuously evolving the category through various propositions in terms of better products and also aggressive pricing strategy. The company since inception has offered various technological innovations starting from the vertical hoods, split chimneys, better lighting solutions to the EDS 3 silent technology in Hoods.
On the other hand in Hobs Elica was the first brand in its category to introduce the Indian cooking friendly Brass burner Hobs.
- Briefly, tell us about the CEO of the company.
During the early 90s, he ventured into the water heater business but as the market was very challenging and saturated it was difficult to carve a niche in that category hence he came across the concept Electric Kitchen Chimneys which was a non-existent category in India. However, he was confident that this concept could click in India as this was quite successfully working in the west and during 90’s the economy was opening up and the living habits of the upper class was more westernized.
Finally, in 1995 he brought the concept of Electric Kitchen Chimney in India. His journey in 1996 started with a JV with another Italian company and working on this category. After that, he moved on to get into a joint venture with Elica SpA in 2010, the world leader in electric kitchen chimneys. Elica SpA established in 1972 has a global presence and has manufacturing facilities in over 10 locations worldwide.
With the baton and energy in his hand, he gave shape and direction to the Joint venture Elica PB India Private Limited.
- Kindly brief us about the unique strategies that you use in your company.
Delivering right technology at the right price is the key. What most brands do or rather where they fail is the fact that although they are offering a good product but their pricing structure is a major drawback. They price it very high because of which they lose out on the mass market.
While at Elica PB India we make the right product at the right price. This is the thumb rule that we adhere to. We are able to strike a perfect balance at the development stage. We offer the usable and required feature to arrive at the perfect product and price combination.
- What are the values and factors that you attribute your success to? Also, suggest the one quote which adorns your company very well.
Business success is purely dependent upon how close you are to your business and understanding the complexities at every level. My major focus has been in understanding the product, the consumer requirements and maintaining the price product ratio, I have been able to ensure that the company delivers a world class product at an affordable price. Leveraging the creativity of the organization and maintaining close relations with the Channel partners has been clearly the biggest strength I have possessed.
Keeping things simple and being fundamentally clear is the key. Taking timely decisions with the right logic without being much procedural is important to any business success.
- What are the future advancements of your company and how well equipped are you?
Since the category is at a very inception stage we expect that in the coming decade this category will be a need for every household in the middle-income group. The company plans to establish a major manufacturing and sales base in this county to not just cater to the Indian market but also leverage the infrastructural benefits it will possess to establish also as a strong export oriented company. Currently since the market size is limited the company has invested in an infrastructure which is more labour intensive but in years to come as the demand for volume grows the company also plans to set up a state of the art manufacturing facility to cater to its own demand, local OEM to other big Brands and also export opportunities. This will definitely bring a much bigger investment to the country and offer a consistent revenue model thru business generation. The company plans to grow approximately 4 to 5 times by the end of 2027.
