Creative Newtech rejigs business units in quest for sustained growth

Creative Newtech, one of India’s leading Brand Licensee and Market Entry Specialist (NSE:Creative) today rejigged all of its distribution portfolio under 4 business units – FMSG (fast moving social goods), FMCT (fast moving consumer technology), FMEG (fast moving electrical gadgets) and EB (enterprise business). The rejig is to gear up the organization for the changed consumer behaviour/demand post pandemic and also to ensure better focus in keeping with its appetite for continued growth. The NSE-listed company reported a 14.65% year-on-year revenue growth of INR 526.32 crore for March 31, 2021, is reshuffling its portfolio of 22 brands, it currently provides in the Indian market. Creative Newtech is expecting a significant growth from the new introductions and the increased volumes for existing ones in its Honeywell Consumer products portfolio, for which it is the exclusive licensee in 29 countries spanning SAARC, the Middle East and APAC. Ckart (a digital e-commerce B2B platform) launched this year is also seeing traction and will be another focus area for the company in the near future.

Ketan Patel, Chairman and Managing Director, Creative Newtech, said, “The business rejig is the next logical step after our rebranding which aims to reshape the entire organization and the way we operated, to be lean and fit for the digital future. The new business areas are more consumer & market driven and will help us deliver a better experience besides sharpening our focus. We are also reassessing our current product portfolio and the intent is to keep those that are resonating with Indian consumers and generate certain volumes for us. We are also looking to add to the portfolio on the other hand with brands and products that are mutual win-win.”

Currently Creative Newtech distributes products from Disney+Marvel Reconnect, EPSON, Philips, Samsung, Transcend, ViewSonic, Zeiss, BaByliss, BPL, Cooler Master, Colorful, Insta360, edelkrone, InVue, MSi, Olympus, PNY, Printronix, Rapoo and Thermaltake among others.

The Mumbai-based company, founded in 1992 by the husband-wife duo of Ketan and Purvi Patel, has grown organically over the last 3 decades to emerge as among the more respected and leading name in the Indian consumer & technology product distribution space. Creative Newtech has an omni-channel network that spans online, offline and retail trade channels. It offers 70+ brands, 3200+ products, has 5000+ happy channel partners, achieves 10000+ monthly distribution and 50000+ metric tons (across its product range) of monthly import and export. It’s one of the few national players in the space to provide end-to-end solution from contract manufacturing to retail distribution and brand licensing. Listed on NSE since August 2019, it employs close to 200 employees. For the financial year ending March 31, 2021, Creative Newtech reported EBITDA and PAT of INR 18.73 crore and INR 9.38 crore, a year-on-year growth of 11.36% and 20.66%, respectively, which is heartening coming during a year marked by the pandemic induced uncertainty.