Shyam Motwani on how Locks by Godrej & Boyce has remained relevant for 127 yrs

In an exclusive interaction with Adgully, Shyam Motwani, Business Head - Locks & Architectural Fittings and Systems at Godrej & Boyce, part of the Godrej Enterprises Group, speaks about the company’s remarkable journey of 127 years in the industry. With a legacy of innovation and consumer-centricity, Locks by Godrej & Boyce has consistently set benchmarks in safety solutions – from pioneering the world’s first springless lock to introducing cutting-edge digital and biometric locks today.

Motwani also discusses the strategies that have cemented the brand’s leadership, its expansion into new product categories, and the company’s forward-looking approach to research and development, all while staying deeply connected with Indian consumers. He also shares insights into the future trends and technologies that the company is focusing on to continue driving innovation and market growth.

Locks by Godrej & Boyce has a remarkable history spanning 127 years. How has the company managed to stay relevant and innovative over such a long period?

Locks by Godrej & Boyce has remained relevant and innovative for the past 127 years by adapting to the ever-evolving business landscape. We began manufacturing locks in 1897 and patented the world’s first springless lock in 1907. Over the years, we have introduced a variety of safety solutions to cater to our diverse customer base, inclusive of the renowned Nav-Tal lock to the present digital and biometric locks. We are a customer-centric company who firmly believes in prioritizing quality, trust, and reliability. We are the industry leaders with 41 patents to our name and a global presence with 15,000 stores across 32 countries and 508 cities. Through our Godrej Design Lab, we collaborate with the best creative minds in the business to balance aesthetics and functionality in order to deliver cutting edge solutions to our customers. We have been the pioneers in home and office safety as we are always exploring new ways to meet our customer’s requirements with regards to both, style with function.

What strategies and initiatives have been crucial in establishing and maintaining Locks by Godrej & Boyce as a market leader?

Our steady efforts to maintain our market leadership in today’s competitive landscape is centered around our core principles of innovation, consumer centricity, and rigorous research. We have made major investments in cutting-edge technologies, inclusive of biometric and IoT improvements, to enhance safety and convenience. Our commitment to affordability ensures that our products meet the needs of our ‘rurban’ customer base. Our consumer-centric strategy involves actively listening to consumer feedback and understanding their preferences, which helps us customize our products and services as per the customer needs.

Additionally, our research initiative programs, like ‘Live Safe, Live Free’ and ‘My Home Safety Quotient’ – where one can check his/her own home safety score, are based on extensive consumer research, ensuring that we fulfill the varied preferences of our broad customer base. By expanding our distribution network into ‘rurban’ areas we have increased our market presence and consistently aligned with the evolving demands of the through focusing on consumer insights. These strategic initiatives have played a crucial part in establishing and maintaining usas an industry leader.

Our products have also been acknowledged with numerous industry accolades. Every year our products are recognized with the prestigious India Design Mark Award for great design and innovation. Additionally, we have been awarded with Gold and Platinum honours at the Confederation of Indian Industry (CII) competition, recognizing our unwavering commitment to quality and operational excellence. This has played a pivotal role in securing the trust of our stakeholders and customers, alike whilst setting new industry benchmarks, persistently.

Locks by Godrej & Boyce has been expanding its product categories, including Architectural Fittings and Systems (AFS) and mortise locks. Could you elaborate on these expansions and their impact on the market?

Our foray into Architectural Fittings and Systems (AFS) and mortise locks has been a game changer in the market. This strategic move has expanded the company’s product portfolio and enabled us to serve our customers better. AFS and mortise locks has helped Godrej to target new customer segments like architects, interior designers and builders, expanding our customer base. This has not only increased market share, but also increased brand visibility and reputation as a one stop safety and architectural solutions provider. Moreover, by innovating and adding new products we have strengthened our competitive advantage. This has resulted in brand loyalty and customer trust as customers see us as a reliable and cutting-edge solutions provider. Overall, we have positioned ourselves as a market leader who is driving growth in the industry.

With the premiumization of offerings, especially through advanced digital locks, how is Locks by Godrej & Boyce meeting the evolving needs of consumers? What are some key features that differentiate your premium products?

We have enrolled 1,000 retail outlets strategically positioned across metros and Tier 1 cities, which generate 30%-35% of our business. These ‘premium exclusive stores’ will be showcasing the premium products of Locks by Godrej & Boyce to meet the nation’s growing demand for high-end safety solutions. With the launch of this initiative, we are anticipating to grow the share of our business from these crucial markets to 50% from the present 30-35%. Premium Rim Locks, such as Pentabolt, Centaur, and all Digital Locks are among the high-end safety solutions that will be prominently showcased in these retail stores. These products have drawn a lot of market attention and demand, particularly given the growing popularity of digital safety solutions.

Our smart locks include robust safety features that set them apart from competitors in the market. Our Residential Digital locks include innovative technology like as multi-factor authentication (fingerprint, RFID, keypad, Mobile NFC), random number ‘spy’ codes for password protection, and real-time security alerts in the event of an unauthorized access attempt. Furthermore, features such as fire alarm detection, anti-tampering alarm, real-time audit trails, low battery level indicators, and an external battery emergency power supply ensure consistent operation. At Godrej, we use AES 128-bit encryption algorithms to maintain data security. With the launch of our ‘Advantis smart lock’, we will further develop our data encryption technology, enabling external access to the system more challenging if permission is not granted.

Our support for DESFire cards makes it extremely difficult to duplicate RFID card keys. We have a function called FOTA (Firmware update over the air), which allows us to resolve potential vulnerabilities that may develop in the future. Both products demonstrate our dedication to adopting new technologies that can reduce the likelihood of attacks and assist in maintaining high levels of safety. All of our products are designed in India, assuring compliance with data security and privacy standards. Despite the frequent obsolescence cycles of electronic components, we offer ten years of guaranteed service-related support.

Locks by Godrej & Boyce invests significantly in research and development with a forward-looking approach. Could you share some insights into the R&D process and how it helps the company stay ahead of technological advancements and market trends?

Our commitment in research and development has been essential to our forward-looking approach. We are actively working with AI/ML solutions to improve safety through facial recognition and behaviour analysis. While bioprinting is a future possibility, we prioritize ethical concerns and data protection in our ideas. These efforts ensure that our devices not only satisfy current safety regulations, but also anticipate future technology needs, confirming our commitment to developing innovative safety solutions.

What are some future trends and technologies that Locks by Godrej & Boyce is focusing on to ensure continued innovation and market?

Locks by Godrej & Boyce is focusing on several future trends and technologies to gain competitive edge in the market, inclusive of a smart lock with IoT integration for remote access and real time notifications for security and convenience. We are also investing in advanced biometric security with fingerprint and facial recognition for highly secure and accessible solutions. We utilize sustainable materials to align with global trend of environmentally responsible manufacturing. We aim to invest in AI and machine learning for predictive maintenance and adaptive security as well as cloud-based security for real time data analytics and system management from anywhere in the world that will contribute towards enhanced safety to prevent hacking and unauthorized access. We also focus on customizable and design flexible products to meet evolving customer needs.

Could you provide examples of how Locks by Godrej & Boyce maintains a strong influence and connection with Indian consumers, particularly in terms of product design and marketing strategies?

Locks by Godrej & Boyce has a strong connection with Indian consumers through products that are designed keeping in mind local preferences and needs. By incorporating traditional designs and finishes, we ensure our locks compliment various home décor, effortlessly. We focus on functionality and durability, designing locks that can withstand various Indian environmental conditions. This attention to practical needs along with offering advanced safety solutions at various price points makes high quality products accessible to a wide range of consumers from urban to rural areas. This design thinking not only gives user satisfaction, but also reinforces Godrej’s commitment to the Indian market.

In line with this commitment, initiatives like the Godrej Home Safety Quotient Quiz and Home Safety Day further our engagement with consumers by promoting safety awareness. Our “Go Live Freely” campaign by Locks by Godrej & Boyce, actively promoted during major events like the Cricket Men’s World Cup and Asia Cup, underscores our dedication to providing reliable safety solutions, making every Indian home a secure haven.

You aim to secure 50% of the market share in the next three years. What are the key strategies and initiatives that will drive this ambitious goal?

To secure 50% of the market in the next 3 years we aim to implement a multi-faceted strategy. Key initiatives will be expanding and diversifying our product range with smart locks and home décor handles with trendy finishes. We will strengthen our presence in the market by increasing distribution channels and forming strategic partnerships with builders and developers. Customer centric approach will drive localized marketing campaigns, improved customer service and user education initiatives. Technology integration through data analytics and smart technology will keep the brand competitive, brand positioning through consistent messaging and corporate social responsibility are bound to build trust and reputation. Competitive pricing and value-added services will attract and retain consumers.

How does Locks by Godrej & Boyce balance innovation with sustainability? Are there any specific initiatives aimed at promoting eco-friendly products and practices?

Locks by Godrej & Boyce balances innovation with sustainability by having eco-friendly practices across our operations. We utilize recycled metals, energy efficient manufacturing and sustainable materials. We also focus on product durability to minimize waste and resource consumption along with incorporating green technology in our designs. We have implemented recycling and waste management programs in ourmanufacturing facilities.

What advice would you give to aspiring business leaders in the industry who aim to drive innovation and achieve market leadership?

Aspiring business leaders aiming to drive innovation and achieve market leadership should foster a culture of creativity and invest heavily in research and development.

Understanding market needs and leveraging emerging technologies are crucial for staying ahead. Building strong relationships with stakeholders and prioritizing exceptional customer experiences enhance brand loyalty. Leading with a clear vision and integrity, while remaining adaptable and resilient, ensures long-term success and competitive advantage in the industry.

Also Read: Mia by Tanishq celebrates Sheetal Devi's Bronze Medal Victory at Paralympics'24