Berger Paints, is planning to foray into the home decor business vertical and launch a basket of products other than paints — which has so far been its sole focus area since the company’s inception in India.
In a notice to BSE, the company said it is “considering the business opportunities available in various areas relating to the home decor and construction industry as well as adhesives and other related materials”.
The company will be leveraging its existing manufacturing facilities and the marketing network to take this new venture forward in the initial days. While the company is in the process to evaluate the possibility of entering at least two new sub-segments in the decor business, it has first sought shareholders’ approval as it involves modifying the company’s Article of Association — a document specifying regulations for the company’s operations, purpose, layout to achieve tasks within the organisation and handling financial records.
“We are in the process of studying the potential in these segments but are seeking shareholders’ prior nod. In case an interesting opportunity opens up in the near foreseeable future, we’ll be ready to tap the opportunity if we have the prior consent of our stakeholders,” said the company’s MD and CEO Abhijit Roy.
Under consideration is the entry into segments such as sealants, adhesives, doors, windows, wooden floor and laminates, tiles, decorative items made of brass and copper, industrial flooring and various items made of wood, board, aluminium and other materials.