Jindal Stainless Clamps Down On Counterfeit Market With A Co-Branding Initiative
In a drive to curb the counterfeit products of Jindal Stainless in the market, the Company is launching a nationwide co-branding initiative with Pipes and Tubes (P&T) manufacturers. With a current market share of 44% and annual revenue of `2,300 crore, Jindal Stainless is geared up to increase its share to 52%, eyeing a revenue of over `3,400 crore in the next 2 years. According to industry estimates, the current market size of the decorative P&T segment is to the tune of `5,300 crore, and is growing at a rate greater than 12% annually.
Addressing media persons in Delhi today, Managing Director, Jindal Stainless, Mr. Abhyuday Jindal said, “We have launched this mutually beneficial co-branding scheme in response to the needs of our customers. It is estimated that over 25% of pipes and tubes sold annually in India bear the counterfeit branding of Jindal Stainless, and are valued at over `1,300 crore. We aim to curtail this counterfeiting and capture the growing decorative P&T market in the next 2 years.”
As a first in the Indian stainless steel industry, Jindal Stainless’ co-branding initiative will earn its MoU partners a clear-cut distinction from other P&T manufacturers. Standardised seals have been created by Jindal Stainless, encompassing the logos of the MoU partner and Jindal Stainless, the grade of stainless steel, and the MoU number. This initiative will help Jindal Stainless and its partners jointly create greater value for customers. It will also offer greater visibility and penetration in the market for the Company’s partners, who were earlier struggling with the adverse effects of counterfeiting, like low market shares, lower margins, bad reputation, and intrusion of inferior quality stainless steel in the market. Apart from this, it will ensure that the right quality material reaches the consumers. Over 60 MoU partners in this segment pan-India have joined hands with Jindal Stainless for this initiative.
The stainless steel grades used in the decorative P&T segment are 304, JT, J4 and JSLU SD. They offer higher strength, lower lifecycle cost, unmatched aesthetic appeal, low maintenance requirement, along with the advantage of being nearly 100% recyclable. These grades are also corrosion-resistant and ensure durability.
Civil Engineering & Construction Review is a leading monthly news journal, launched in 1988, at New Delhi, India by Trend-Set Engineers Pvt. Ltd. Its dedication to reader satisfaction and also towards fulfilling the ever - growing needs of the construction profession, makes CE&CR the first choice of all those connected with the construction industry.