NAIROBI, Kenya, Jul 22 – Paint manufacturer Crown Berger plans to tighten its grip on the regional market by boosting its premium and economy market share by between 10 percent and 15 percent respectively.
Currently, the company commands 65 percent of the premium market (superior quality paints) and 10 percent of the economy (grade III paints) segment.
“We project that by 2015, we shall consolidate about 75 percent of the Premium market and 25 percent of the Economy segment,” Group Chief Executive Officer Rakesh Rao said on Thursday.
The paint maker has experienced mixed performance in both ends of the market for the last 10 years due to high costs of production and raw materials.
Crown Berger Marketing Manager John Hadley said the premium market share had experienced mixed performance since the 1990s due to changing market dynamics.
The premium market hit an all time low of 55 percent in 2004 but has since risen to 65 percent with a projected performance of about 75 percent by 2015.
“Our economy paints have had a steady growth since we introduced them into the market. From a five percent growth in 1995 we are now estimating a 15 percent market share in this segment,” Mr Hadley said.
He attributed steady growth in the market share to robust construction industry growth and increase in sales.
Mr Hadely said Crown Berger had already introduced several international innovative technologies and wider plans are already in place.
Crown Berger has since 2009 been aggressive with meaningful customer a loyalty scheme, which has allowed growth at all, sizes of dealership, principally by widening the customer base.