Financial Daily from THE HINDU group of publications
Wednesday, May 21, 2003
Financial Daily from THE HINDU group of publications Wednesday, May 21, 2003 |
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Corporate
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Outlook Marketing - Brands Tata Steel banking on Steelium for revenue growth Our Bureau
KOLKATA, May 20 TATA Steel is hopeful of selling between 3,50,000 tonnes and 4,00,000 tonnes of its branded cold rolled steel under the Tata Steelium brand in the current fiscal. This would translate into about Rs 700 crore in revenue terms, according to Mr Anand Sen, Tata Steel's Marketing & Sales Chief in-charge of flat products. Mr Sen told newspersons at the conclusion of a function held here today to mark the regional launch of Tata Steelium that sales of total branded products - under the Tata Shaktee, Tata Tiscon and Tata Steelium brands - would enable the company to generate a revenue of about Rs 2,000 crore in 2003-04. While the national launch of Tata Steelium was held earlier in February this year, the function held here today marks the first in a series of regional launches of the product. Tata Steel's Steelium initiative is part of the steel major's ongoing efforts to transform itself from a manufacturer of products to a producer and marketer of brands. Mr Sen said the company's emphasis was on "branding for credibility and comfort." The idea also was to put in place "a physical and accountable distribution system." This would augur well for the domestic auto ancillaries sector, among others, which has hitherto been required to depend upon overseas markets for meeting its raw material needs. Earlier, addressing newspersons here last month, the Managing Director of Tata Steel, Mr B. Muthuraman, had said that sales of branded products would account for around 28 per cent of the company's total revenue in 2003-04. By 2006-07, the revenue from sales of branded products would go up to Rs 4,000 crore. Mr Muthuraman had said that the company's marketing focus now was on "branding by de-commoditising steel." About 1 per cent of the total revenue from sales of branded products would be spent on branding initiatives.
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