Chairman of the Aditya Birla Group Kumar Mangalam Birla referred to the introduction of Birla Opus as a "defining moment" for the Group, embodying the spirit of aspirational India. Grasim Industries, the conglomerate's main company, invested Rs 10,000 crore up front to develop Birla Opus, marking the group's debut into the Rs 80,000 billion Indian decorative paints industry.
The Group entered the Indian Paints & Coatings market at a favorable moment. Throughout the last ten years, the industry has grown by upper single or double digits, with the exception of the pandemic year. It is projected that in 2024, the market would be worth USD 9.4 billion. In 2024, the market is projected to be worth USD 9.4 billion. Growing at a CAGR of 9.38% between 2024 and 2029, it is anticipated to reach USD 15 billion by 2029.
The company is ready to access this expanding industry. With more than 145 items, including water-based paints, enamel paints, wood finishes, waterproofing, and wallpaper, it has the broadest selection in the business. Serving a range of consumer categories, including institutional customers, premium, economy, and luxury, as well as designer finishes. Additionally, it offers the widest selection of 2300+ tintable colors, 216 of which are recognized as iconic Indian colors.
The remarkable packaging of the brand's first major commercial video, Make Life Beautiful, which debuted during the T20 Cricket World Cup, won praise. The firm has outlined a big expansion plan and marketing strategy in an effort to compete with the industry titans. Explaining are CMO Inderpreet Singh and CEO Rakshit Hargave.
"We've been in the market for roughly three months, during which time we've developed a fundamental distribution. In order to get as much exposure as possible, we chose to begin our media campaign during the Cricket World Cup. We're happy to announce that during the World Cup, our brand visibility has been outstanding. We're also running our first campaign, which is based on the subject "Make Life Beautiful," across all of the main general entertainment channels, adds Hargave.
"We aimed to position ourselves as creators and leaders," he continues, citing data that indicated most paint companies belonged to a particular quadrant.
Considering the industry's problem with misattributed brand recognition, we need a unique and memorable campaign. As our concept enables customers to construct their own worlds, it complements the distinctive positioning of our brand. Singh also mentioned the brand's debut campaign, which included an extensive integrated marketing plan, which took place around two weeks ago. According to Singh, the ad is running across national and regional TV channels and has substantial linkages with TV programming.
He contibues, "Digital is a major component, encompassing platforms from the Meta and Google ecosystems as well as mobile and linked TV formats. More than 100 cities now operate outdoor advertising, and print and radio will follow shortly. It's a comprehensive 360-degree campaign with high exposure in stores and on the ground, encompassing both above-and below-the-line operations. We are present throughout the whole digital ecosystem, from data to movies to over-the-top content."
Regarding market share goals, Hargave states, "We have stated that we want to be a Rs 10,000 crore company after the first full three years of operation and also be EBITDA positive by that time. I would not want to comment on our market share in the next five years. Thus, I believe you may use that as a comparison. We will overtake all market participants in terms of relative market share by nature," he said.
