Asian Paints wants to make its footprint stronger with providing a comprehensive décor solution in the growing home painting market, Asian Paints Global International CEO Pragyan Kumar says.
The Mumbai-based multinational thereby keeps investing in quality products targeting various consumer segments alongside intensifying its focus on upskilling the people associated with the sector.
Mr Kumar, who recently visited Bangladesh to witness business operations and the launch of the Colour Next-2022, a flagship initiative of the company, said this to the FE in an interview.
About the journey here, he says Asian Paints started its business through a joint venture with Confidence Group in 2002 to produce a top-class range of paints for consumers and to collaborate with architects.
The company has evolved and expanded since then.
Citing Bangladesh as a very potential market, Mr Kumar says its economy is growing gradually riding on a great business climate. The number of MAC (middle and affluent class) population is also growing.
"We're the company that does close to Tk 5.0-billion net sales in the country. The business agenda is obviously in terms of making this Tk 5.0 billion grow and become stronger but at the same time become a more relevant and stronger player for everyone."
About market share, Mr Kumar says the company becomes the second-largest player with holding market share anywhere between 15 and 20 per cent.
In terms of making an impact with the consumers, the multinational firm has been doing several things right to increase not just its share, but also the relevance.
As a consumer-centric company, he says, Asian Paints makes very strong investment in finding out how consumer needs are changing and how their own ambition and investment are in terms of making beautiful home.
"We invest a lot in that," he continues.
The colour next is an exercise to understand what is happening to consumer fronts and make products that provide value, and this value comes from delivering the kind of products that consumers want.
"They need paints that are going to last for much longer period of time, paints which will have unique finishes, paints which will make your home look much nicer. So, we have people who will consult you on what kind of colour combination that you can use."
On their newly commissioned plant at Mirsarai in Chattogram, Mr Kumar says they have invested in the new facility, which is highly automated.
In fact, it is their finest plant across the globe.
"It's something that is going to help us provide more of our quality products into the market," he said.
The company is now working towards providing higher end products like Royale Luxury Emulsion and Apex Ultima. "We keep introducing new products every year,"
Regarding the future plan, the CEO says with its presence in all 64 districts, Asian Paints is well placed to meet the demand of all categories of consumers across Bangladesh.
It serves customers through a network of strategically located depots in Demra, Turag, Chittagong, Sylhet, Comilla, Khulna, Bogra, Barisal and Mymensingh.
Since the company has a responsible corporate presence as part of the entire economic space in Bangladesh, it believes these ideas should be discussed with architects and interior designers about the products required in the country.
"We'll continue the journey of becoming a complete décor player in Bangladesh," says Mr Kumar.
"Our objective has always been to provide consumers with great solution and value so that they are able to get their idea of their beautiful and dream homes come to life for them," he concludes.
