(MENAFN- AETOSWire) (BUSINESS WIRE ) -- Godrej Security Solutions, a division of Godrej & Boyce, is strengthening its presence in the Middle East region, with a focus on providing cutting-edge security solutions tailored for the jewellers' community. With a projected 20% growth by FY2025, the company aims to revolutionize security standards and meet the evolving needs of businesses in the region with an expected target revenue of US$ 2 Million.
Mr. Pushkar Gokhale, Executive Vice President and Business Head, Godrej Security Solutions, commented,“Recognizing the critical importance of the Middle Eastern market for Godrej Security Solutions, we are dedicated to expanding our presence in the region, with a particular focus on the jewellers' community. Leveraging our extensive expertise and innovative solutions, we are committed to delivering unparalleled security measures that protect their invaluable assets. Currently, we have a significant presence in the UAE, Oman, Qatar, and Bahrain, and we plan to extend our reach to Kuwait and Saudi Arabia. We aim to strengthen our support for the existing dealer network, facilitating greater market penetration. Our mission is to provide unmatched security, offering peace of mind to businesses and individuals alike. While banks and financial institutions remain our primary customer base, we anticipate substantial growth in our jewellery sector security solutions exports to the UAE. We target 25% increase in our retail touchpoints over the next two years. Back home we are also working on a 30% capacity expansion plan by End of FY25.”
The UAE holds significant strategic importance for Godrej Security Solutions. It has ambitious growth plans for the next 5 years, largely driven by exports. Presently, approximately 10% of the revenue is generated from exports, focusing on the Middle East, SAARC countries, and Africa besides our exports into USA, Europe and South East Asia. For the security solutions division, 20% of export revenue comes from the Middle East market, with a targeted growth of 20% over the next two years.
Godrej Security Solutions is directing its attention towards the jewellers' community in the UAE and Middle East, recognizing their distinctive security requirements. With tailored solutions and dedicated support, the company is poised to effectively address the unique needs of jewellers in the region. Additionally, Godrej Security Solutions actively engages with the jewellers' community by participating in industry events like the GJC Next Gen Global Meet, fostering awareness and understanding of their security concerns.
The demand for security solutions in the Middle East is on the rise, with countries like Saudi Arabia and the UAE investing heavily in infrastructure and enhanced security measures. This growth is driven by factors such as increased tourism, flourishing business activities, and the strong commitment of regional governments to protect critical assets. The jewellery industry in the region is a significant contributor to this demand, with jewellers relying on advanced security technologies to safeguard their valuable assets. Increasing awareness about security risks, the emergence of new technological solutions, and the availability of cost-effective devices are propelling the overall market growth.
To cater to this demand, the brand has introduced Smart Fog, one of a kind and first ever concept to be introduced in Indian market. It is a brilliant fogging security system that effectively halts intruders. This revolutionary product adds an extra layer of protection to the overall security ecosystem of jewellers. It utilizes advanced technology to detect unauthorized attempts to open any vault or safe. It is equipped with remote cloud-based application as well as wireless technology for triggering the system. AccuGold is the Gold Testing Machine by Godrej to determine gold purity with the highest accuracy. This machine is designed to analyse the composition of the ornament under testing, without damaging it. Whether you are a jeweller, a bank or a financial institution, this machine is the perfect enabler for your business.
With these innovative offerings, Godrej Security Solutions is set to strengthen its presence in the Middle East, focusing on meeting the unique security needs of the jewellers' community and driving substantial growth over the coming years.
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