1. What is the objective of the collaboration between Greenply Industries of India and Samet of Türkiye?
As an industry leader in plywood in India, Greenply now has the potential to take its offerings to the next level and totally transform the Indian furniture hardware market with an equal joint venture with Samet, a furniture hardware company established in Turkey. Over the years, Greenply has established its reputation and maintained a following of satisfied, brand-loyal consumers. Samet is a semi-European company that produces a high-end range of products using modern automated and less labour-intensive processes. Samet has a presence in 80 countries, and it would be their call to import from the Indian JV for their respective markets, depending on the cost of production here and in that country. The furniture fitting segment is mostly dominated by Chinese players, and with its domestic manufacturing, the JV will be very competitive. This partnership not only aims to cater to the domestic market but also envisions making India a global hub for functional furniture hardware. Both businesses are dedicated to providing outstanding value and cutting-edge solutions for long-term success.
2. What is the aggressive planning of Greenply-Samet towards achieving a successful ground-breaking collaboration?
Greenply Samet expects to achieve a capacity of Rs 750–800 crore in next 3 years, with an investment of Rs 250 crore. The investment will be done in phases. The joint venture has commenced its manufacturing activities and commercial productions as per the phase one plan on March 30, 2024. The Vadodara plant is set to become a cornerstone of Greenply-Samet’s operations. The production capacity at this facility will be strategically ramped up in 3 phases over the next 3 years, ensuring a steady increase in output to meet the growing market demands. The joint venture is dedicated to manufacturing and marketing premium furniture hardware, including state-of-the-art slide systems for wooden and metallic drawer systems, hinge systems, and lift-up systems, and offers value-added products that resonate with the needs of modern consumers.
3. How do you envision the positioning of the Greenply-Samet collaboration?
The upcoming product line is expected to deliver a higher profit margin, and we will ensure a 360-degree promotional campaign. The collaboration will not only add value to the Greenply brand's strength but will also enhance channel strength. We will be substantially investing in branding and marketing activities for the activation of channel partners. Hence, the focus is on achieving the best ROC and holistic growth for the entire group. In an evolving market space, Greenply and Samet’s strategic partnership, combining Greenply’s industry expertise with Samet’s advanced technological capabilities, represents a significant leap forward to redefine standards for premium furniture hardware.
