Godrej Locks aims to increase its revenue in the digital locks market by 10% in 2024

Mumbai, 02nd January 2024 (GNI): In a world increasingly driven by digital innovation,  Godrej Locks  a business of Godrej & Boyce, the flagship company of Godrej Group, continues to grow its digital locking solutions, eyeing a dominant market share by FY25. The 125+ year old brand is confident of dominating the market with a pipeline of more than 25 new products planned with more than 50% coming from Jump and Leap Innovation. In a recent report- ‘Live Safe, Live Free’, commissioned by Godrej Locks, it was identified that over 2/3^rd of the respondents already use smart locks for the safety of their homes. The study was conducted across 5 key vulnerable cities, namely,

Mumbai, Delhi, Kolkata, Bhopal and Bangalore in terms of safety, as listed in the National Crime Record Bureau data. 

With the increased adoption of smart home technology and digital home safety solutions that offer convenience along with advanced safety, Godrej Locks is directing its focus in growing this particular category. Currently, digital locks make 4% of revenue share and the business unit aims to grow it to nearly 20% in the next 3 years. 

According to Shyam Motwani, Business Head at Godrej Locks & Architectural Fittings and Systems, “A trusted name in the safety solutions industry, Godrej Locks pioneers the shift towards innovative digital home safety solutions that seamlessly blend convenience with the brand’s innovative and smart approach. Our focus remains on delivering advanced home safety solutions with cutting-edge technology. Having established ourselves as the frontrunner in mechanical and traditional locks, we have solidified our position with an impressive 23% market share. Meanwhile, we are growing the digital locks category’s contribution to the overall business, and we want to take that up to 10% in the coming year with our new offerings, specially designed to meet specific consumer needs while being high on aesthetic appeal. In this ever-evolving digital age of home safety, we aim to empower customers by providing reliable and advanced locking solutions for enhanced home protection.”

Godrej Locks has strengthened its position in India’s digital locks market by launching India’s first-ever interconnected digital locks for the residential and hospitality sector. Overall, consumers can choose from a wide portfolio of digital locks each with its distinguished features and technologies. Features like keyless entry, remote access control, and real-time monitoring redefine the overall user experience.  This significant target, twice the sector’s expected growth rate, emphasizes the company’s commitment to adjusting to evolving consumer preferences.The company’s strategic focus on digital locks resonates with its strong commitment to innovation and consumer centricity. 

Godrej Locks, a trusted name in the safety solutions industry, is dedicated to continuous innovation, which has solidified its position as the preferred choice for customers through its cutting-edge and advanced locking technology. Godrej Locks, a trusted name in the safety solutions industry, is dedicated to continuous innovation, which has solidified its position as the preferred choice for customers through its cutting-edge and advanced locking technology. Godrej Locks, a trusted name in the safety solutions industry, is dedicated to continuous innovation, which has solidified its position as the preferred choice for customers through its cutting-edge and advanced locking technology. Godrej Locks, a trusted name in the safety solutions industry, is dedicated to continuous innovation, which has solidified its position as the preferred choice for customers through its cutting-edge and advanced locking technology. is dedicated to continuous innovation is dedicated to continuous innovation, a business of Godrej & Boyce, the flagship company of the Godrej Group, a business of Godrej & Boyce, the flagship company of the Godrej Group a business of Godrej & Boyce, the flagship company of the Godrej Group a business of Godrej & Boyce, the flagship company of the Godrej Group a business of Godrej & Boyce, the flagship company of the Godrej Group a business of Godrej & Boyce, the flagship company of the Godrej Group a business of Godrej & Boyce, the flagship company of the Godrej Group a business of Godrej & Boyce, the flagship company of the Godrej Group a business of Godrej & Boyce, the flagship company of the Godrej Group a business of Godrej & Boyce, the flagship company of the Godrej Group a business of Godrej & Boyce, the flagship company of the Godrej Group

About Godrej Locks & Architectural Fittings and Systems: Godrej Locks & Architectural Fittings and Systems is a division of Godrej & Boyce, the flagship company of the renowned Godrej Group. Founded by Ardeshir Godrej, the name ‘Godrej’ is 126 years young and has evolved into a symbol of trust, security, and integrity. Godrej has consistently set industry standards in the field of locks through continuous innovation, introducing products such as India’s first ‘Made in India’ digital lock, cutting-edge postmodern biometric and connected digital locks and even a lock with the 1st patented dual motion technology in the world. 

Godrej has made significant strides in delivering world-class smart locking solutions, transforming the perception of a lock from a mere functional device to an effective home safety solution. Recently, the brand expanded its offerings by introducing architectural fittings and systems, showcasing a true pioneering spirit in product development. 

With a mission to raise awareness about the imperative need to adopt advanced home safety technology, Godrej Locks initiated a unique nationwide home safety awareness campaign – ‘Har Ghar Surakshit.’ Under this initiative, the brand introduced and continues to celebrate ‘Home Safety Day’ every year on the 15th of November, emphasizing the importance of keeping every home safe. For more information, please log on to https://www.godrej.com/godrej-locking-solutions-and-systems.