Marvel Decor Ltd, an SME listed on the NSE, specialises in window covering solutions with infrastructure spanning 2 lakh sq. ft. at Jamnagar, Gujarat. Known for its innovation, quality, and attention to detail, the company boasts the world’s largest range of products in the industry, making it a trusted name in the sector.
The company has inaugurated its new experience centre in Andheri West, Mumbai, on 9th July 2024. This strategic move is aimed at catering to the Interior Decorators and Architects (IDA) segment, showcasing the company’s advanced product portfolio to a key segment of its business. The new centre’s impressive glass façade exemplifies Marvel Decor’s focus on complete light control, ambience creation, mood setting, and automation, featuring all the company’s products and fabrics.
The new experience centre is strategically located in Andheri West, Mumbai, a hub for interior products. This prime location ensures easy connectivity for interior designers, architects, and channel partners, enhancing their accessibility to Marvel Decor’s extensive product range. The centre also boasts an additional lounge area for hosting guests and events, centred around the display and showcase of Marvel Decor’s offerings.
With the opening of the new experience centre, Marvel Decor has relocated its sales and marketing office from Jamnagar to Mumbai. This move is part of the company’s broader strategy to expand its footprint in key markets and target the IDA segment more effectively. The company aims to enhance its market presence and provide a comprehensive platform for its customers to experience the full range of its products and solutions.
In the last six months, Marvel Decor has undertaken several key initiatives to drive growth and expand its market presence. The company launched its Vision and Mission with a 10x Growth Goal by 2030 at its Jamnagar Headquarters and Dubai. To support its international business, Marvel Decor hired a General Manager (GM) in Mumbai, along with over five new business development professionals. Additionally, a GM for the Interior Designs & Architects Vertical was hired, accompanied by a dedicated business development team.
Marvel Decor has secured several prestigious projects in the past six months, highlighting its growing influence and reputation in the industry. The company received product approval for the New Parliament House from the Kenyan Government and successfully completed the Vice President of India’s Residence project. Other significant project wins include Al Sharq Hospital in Fujairah, UAE, the New Port & Customs Authority Head Office in Dubai, AIIMS Rajkot, Hyatt Hotel Aurangabad, Accenture Kolkata, Southern Railway, and Courtyard by Marriott Mumbai.
Marvel Decor continues to innovate and expand its product offerings. The company launched specialised Hospital Tracks to expand its footprint in the healthcare sector, securing a prestigious project at AIIMS Rajkot, inaugurated by Hon. Prime Minister Shri Narendra Modi. Additionally, the company is developing curtain tracks and automation motors, complementing its existing products and providing end-to-end solutions for home, office, and project businesses.
Marvel Decor is focused on expanding its domestic footprint by establishing experience centres in Mumbai, Bangalore, and Delhi. The company aims to target interior designers and architects, building on the low penetration of blinds in the market. By partnering with service providers, Marvel Decor plans to offer end-to-end solutions and expand its projects business with additional products. The company is also set on scaling up its international business through its Dubai and UK subsidiaries, enhancing its product basket in window coverings with automation solutions, curtain track solutions, and technical advancements in existing products.
Conclusion
Marvel Decor Ltd’s new experience centre in Mumbai marks a significant milestone in the company’s growth journey. By targeting the IDA segment and showcasing its modern product portfolio, Marvel Decor is poised to strengthen its market presence and drive growth. With strategic initiatives, key project wins, and innovative product launches, the company is well-positioned to achieve its ambitious growth targets and establish itself as a global leader in window covering solutions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
Published on: Jul 9, 2024, 5:39 PM IST
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