Stovekraft bags award for retail excellence, opens 150th store
By Retail4Growth Bureau | February 28, 2024
The brand, which won the ‘Retailer of the Year’ award in the kitchen appliances category at the Asia Retail Congress, Mumbai, has also opened its 150th retail store in Jayanagar, Bengaluru.
Kitchenware brand Stovekraft has announced that it has bagged the prestigious ‘Retailer of the Year’ award in the kitchen appliances category at the Asia Retail Congress, Mumbai. The brand has also opened its 150th retail store in Jayanagar, Bengaluru.
Embarking on its retail journey only 15 months ago in June 2022, Stovekraft expanded to 100 stores in September 2023, and now 150 stores in January 2024. In 5 months, the company added 50 stores to its retail chain, which currently employs more than 350 people.
The company shares that by extending its retail footprint into tier 2 and 3 cities, it has aided employment opportunities in cities beyond metropolitan areas and increased accessibility of innovative kitchen essentials to all.
Speaking on the milestones, Rajendra Gandhi, Managing Director, Stovekraft Ltd., said, “We are thrilled at expanding the reach of our range of kitchen essentials closer to consumers across cities in both metro and non-metro areas. Through this effort, our focus is to create numerous job opportunities, support local talent, and contribute to the overall economic growth.“At the same time, winning the Global Excellence Award ‘for Retailer of the Year’ is a testament to our relentless dedication to delivering exceptional products and services to our valued customers.”
Currently, 80 percent of Stovekraft’s workforce is women. In the effort to promote a culture of entrepreneurship, innovation and inclusivity, Stovekraft had earlier rolled out an exclusive franchisee opportunity for women with zero capex investment. This initiative received a good response and more than 500 women entrepreneurs applied for the opportunity, shares the company.
The company is also investing in creating more outlets through the Company-Owned, Franchise-Operated (COFO) model, to ensure greater entrepreneurial participation at lesser capital outlay.
Stovekraft is now present across Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Kerala and New Delhi. The brand recently expanded in the Northern market, with currently 4 stores in New Delhi.
