1 year ago
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There were times, when the women of the house used to do all the household jobs like cleaning cooking etc single-handedly and manually. However, now the scenario has changed. Now the women are going out to work and earn. Also, household chores are not considered to be just a women’s job. In this changing scenario, home and kitchen appliances are here to make lives easier. Krutan, a Bangalore based startup, is offering affordable, time and energy saving appliances to make life faster and comfortable.
- Startup Name-Krutan Home Appliances
- Headquarter-Bangalore
- Founder-BG Krupa
- Sector-Home Appliances
- Founded-2013
- Parent Organization-Sureseal Pvt Ltd
About Krutan
KRUTAN is a Bangalore based home appliance brand that aims at providing kitchen essentials for every home. Founded in 2013, Krutan believes in identifying useful products globally and making it available at affordable prices to the people. The mission of the company is to make affordable kitchen appliances available in Tier 2 cities as well as go global and introduce products in third world countries and make life faster and easier for people. Krutan’s aim is to make smart living affordable and accessible to everybody.
Home / Kitchen Appliance Industry in India
Indian appliance and consumer electronics (ACE) market reached Rs 2.05 trillion (US$ 31.48 billion) in 2017. It is expected to increase at a 9 percent CAGR to reach Rs 3.15 trillion (US$ 48.37 billion) in 2022.
According to the report titled “India Kitchen Appliances Market Analysis: Forecast & Opportunities, 2016-2022”, Kitchen Appliances market recorded strong growth, with a CAGR of over 13% during the review period of 2011-16. The market is forecasted to advance with a double-digit CAGR of 15.41% during an estimated period of 2017-22.
Krutan’s target market consists of the working class of India that consists of the lower and upper middle class.
Founders of Krutan and Team
BG Krupa is the founder of Krutan. The other members of the team are
Mr. Ashwin B G- Director
Mr. Shashidhar Rao B N - Head of distribution and retail.
Mr. Giridhar Rao B N - Mentor.
How was Krutan Started
Spending 6.5 years in the corporate industry, Krupa deeply understood the need to save time in today’s fast moving life. She also believed the fact that technology would be the soul of this generation. It was seen that the working class did not have the time in today’s world to use conventional methods of living at home. So, with Krutan, Krupa wanted to bring in quality and useful appliances at a price-point which could be afforded by all. Thus Krutan was born.
Krupa’s family received an electric kettle as a gift from a friend in London. She noticed how this one appliance made their lives easy in terms of making their morning tea, cooking, etc. Krupa wanted to make this convenience available to the people around her at an affordable price. As such, the first product launched by Krutan was an electric kettle and they later diversified the portfolio to other electrical appliances.
Krutan - Name, Tagline and Logo
Team Krutan wanted the name to be out of the box and different from the existing players in the market.
We decided to call it Krutan which stands for patience, meticulous and attention to detail.
Krutan’s tagline is “Home solutions for a healthy living”. The tagline was designed keeping in mind health and smart living, which are the major concerns of the people.
What is Krutan
Krutan is a Bangalore based home appliance brand launched in the year 2013.
Currently, Krutan deals in electric kettle, induction cooktop, rice cooker, sandwich maker, pop-up toaster, air fryer and hand blender. Krutan’s best-selling products are electric kettle, rice cooker and induction cooktop.
Krutna’s parent organization is Sureseal Pvt Ltd, a metal packaging company. Sureseal manufactures pilfer proof caps for various Pharmaceutical, Liquor and Food Industries. Currently producing 300 million caps per annum, the annual business revenue is about US$ 3.5 million. In the year 2013, Sureseal diversified its activities and broadened the spectrum into the home & kitchen appliances industry with the brand “Krutan”
Krutan - Revenue Model
A major part of Krutan’s revenue comes from wholesalers, retailers and hypermarkets. The company keeps a minimum margin of 10% on every product.
Krutan - User Acquisition
Krutan launched its products with Metro- Cash and Carry, which is a leading B2B wholesaler platform. Through this, the company was able to reach out to retailers directly. Besides, the company marketed its products through Facebook. The products are also listed on e-commerce sites like Amazon, Flipkart, Indiamart, etc.
Not much was spent on advertising for Krutan. However, around Rs 50,000 per month was spent initially to grow awareness about the product.
Krutan - Startup Challenges
According to Krupa, establishing a new brand when there are many big players in the kitchen appliance market is a big challenge.
It wasn’t easy to change the mindset of the people. But making the products affordable and giving the best quality has helped us come a long way.
Krutan - Competitors
The major competitors of Krutan are Prestige, Pigeon, Preethi, Fabiano, Philips and Morphy Richards to name a few.
However, Krutan has been able to carve its own niche in terms of price, service and quality of products.
Krutan’s air fryers have been priced at 1/4th of the price of the other existing players in the market. This, in turn, made the competitors reduce their prices too.
Krutan - Funding and Investors
Krutan is a debt-funded company.
Krutan - Future Plans
Krutan has been able to make a mark for itself in the kitchen appliances market. The company has sold close to 20,000 Kettles in the first 1.5 years of inception.
In future Krutan wants its products to reach all the tier 2 and tier 3 cities of India. Besides, Krutan is also planning to expand its operations to South American and African countries.
English (US)