Dubai: Godrej Locks, India's leading player in locking and security solutions, plans to double its current market share of 1 percent in UAE in the next three years.
Currently, they have a potential of approximately USD 300 million, officials from the Godrej Locking Solutions and Systems (GLSS) said in a statement.
Commenting on the expansion plan, Shyam Motwani, Executive Vice President and Business Head, Godrej Locks, said, "UAE is a very important market for us. We plan to strengthen our retail network in the country. Our plan is to have at least 450 retailers in the next three years from the current strength of 250 retailers."
In January 2014, GLSS has opened an exclusive experience center here in keeping with its commitment for long term investment in the Middle East region.
Spanning across 4,200 square meters, the centre showcases an innovative range of furniture for offices, laboratories and healthcare segments, security products and locking solutions.
GLSS is a business unit of Godrej & Boyce, a multinational conglomerate.
Operational for the last eight years in the UAE, Godrej Locks' major selling product - Mortise locks and Padlocks - contribute to 75 percent of its business in the UAE market.
For catering to the Middle East region, Godrej Locks has branch offices in the Sharjah and in Riyadh.
In a bid to strengthen its footprint in UAE and expand distribution, Godrej Locks has also partnered with Sabano Trading, a UAE-based hardware solutions provider.
"We are extremely pleased to have Sabano Trading LLC as one of our key overseas partners to distribute the global standard locking products in the UAE market," Motwani said.
Motwani said that with their locks reaching several countries, the brand has come a long way.
Godrej Locks, over the last eight years, have made entry into 8 markets in the Middle East region.
