Harrison Locks forays in new areas; eyes Rs500cr revenue by'20

With an aim to increase its turnover to Rs 500 crore by 2020, leading lock manufacturer Harrison Locks has forayed into new segments, including builder hardware solutions and smart security equipment.
"We have entered into new areas such as builder hardware solutions, kitchen hardware and appliances, smart security equipment and automobile security. The move would help the company in achieving our turnover target of Rs 500 by 2020," Harrison Locks Managing Director Umang Monga told PTI.
He said that the demand for these products in the domestic as well as international markets like Middle East and South East Asian countries are increasing.

"Our exports are increasing in these regions. It would also help in pushing our turnover. Under the 'Make in India' programme of the government, we are designing and innovating new products in our manufacturing units in Aligarh and Rajkot," he said.
Further, he said that with the gradual growth in the real estate sector in the country, the company is getting good orders for builder and kitchen hardware solutions.
"Currently foreign brands are holding majority share in this category but the cost is very high. But we are providing similar quality products at a reasonable rates, which is giving edge to our goods," Monga said.

He added that the company is targeting tier-II and tier- III cities and towns in the country to boost its domestic sales.
"Our young team is innovating new products, which are available at all e-commerce platforms and we are also selling through our dense dealer network across the country," he added.
The company has also opened its franchise in others parts of the globe such as Dubai in Middle East.