Aditya Birla Group flagship company, Grasim had announced its plans to foray into the paint business. However, Amit Syngle, Managing Director and Chief Executive Officer (CEO) of Asian Paints said that they have always seen competition in the paints industry and are not worried about the entry of newer players.
“We have always seen competition. Last two decades we have seen lots of multinationals with very deep pockets entering the market. We have seen players like Kamdhenu, JSW which are also pretty big players in their own esteem having entering the market and now Grasim to that extent,” Syngle said in an interview with CNBC-TV18.
Connect with the consumer is very important, he added.
“In this industry, it is not just your reach and distribution which is important, it is how you connect with the consumer, how is your proposition reaching the consumer, and how you are able to build on to a brand in a very strong manner. I think the brand building is not a point which can happen in just a year or two. It takes decades of hard work and sweat in terms of doing so.”
Syngle said that there is enough space for more players in the paint industry.
“As a leader, we keep on looking at enlarging the market and making the pie bigger for everyone. Therefore we think there is enough space for everyone to come in. My motto has always been more the merrier and that is what we are looking at,” he said.Watch the video for more