Tata Steel Launches Its Steel Retail Store In New Avatar
In step with this effort, Tata Steel launched its steel retail store ‘steeljunction’ in a new avatar. This outlet will provide a ‘one stop destination’ for consumers intending to go ‘steel shopping’.
The store, which was inaugurated by Tata Steel CEO T V Narendran, will showcase steel products catering to four consumer segments - Home Décor & Gifting, Home Building, Home Making and Tools & Implements. “steeljunction is integral to our strategic focus on the retail segment. It is aimed at providing a differentiated steel purchase experience to discerning customers,” Narendran said on the occasion. Steeljunction will feature premium branded products of Tata Steel including Tata Tiscon, Tata Pravesh, Tata Wiron, Tata Colour, Tata Agrico and DurDurashine.Customers can also book these products online through the company’s E-selling platform Aashiyana, that clocked a business of over Rs 100 crore within one year of its launch.
The steel industry is cyclical in nature. In order to insulate itself from this cyclicality, the company is focusing on strengthening the branded consumer business and downstream product portfolio,” Tata Steel said in a statement.
Tata Steel’s branded products, retails and solutions business grew by 30% year-on-year during the last fiscal. The company achieved 3.9 million tonne(mt) in annual sales of branded products; brands like Tata Tiscon and Tata Astrum achieved higher sales of 1.43 mt and 1.52 mt, respectively.
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