Aggarwal to focus on building consumer first-brand
Homegrown brand Ozone Overseas, which serves consumers in the USA, Germany, Turkey, Italy, UAE, and other countries, says the Rs.250 crore, from PAG-backed Nuvama Private Equity’s latest late-stage/pre-IPO series of funding, is for strategic network expansion into tier 2 and tier 3 cities for its international standard furniture products.
“With our strategic network expansion into tier 2 and tier 3 cities, we aim to bring our innovative home and office improvement solutions closer to a wider audience,” said Alok Aggarwal, Chief Executive Officer and Managing Director, Ozone Overseas.
“By leveraging this capital, we are well-positioned to accelerate our growth trajectory. Our focus remains on building a consumer-first brand that resonates across touchpoints, including franchise outlets, e-commerce platforms, experience centres, and an extensive retail network.
“Strengthening our after-sales service and delivering solution-focused products will further enhance our customer experience. As we expand our manufacturing and R&D facilities, we proudly contribute to the Make in India for the world journey,” he said on 9 June.
“The strong momentum in commercial and residential segments is expected to lead the demand for ancillary building and architectural hardware solutions that Ozone Overseas specializes in,” noted Pranav Parikh, Managing Partner, Nuvama Private Equity.
“The inherent growth in these markets is further enhanced by structural trends such as premiumization as well as increased use of modern materials and feature-rich designs, driving up the volume and value of architectural products used across home and office markets.
“This investment seamlessly aligns with crossover’s investment philosophy of backing industry leaders who have a demonstrated track record and exhibit robust growth prospects.
Parikh elaborated, “Unlike other home improvement categories, this space is still highly fragmented, with a large share being catered by unorganized players. We see an increasing shift from unorganized to organized and expect consolidation of market share among a few large players over the next decade.
“In our view, Ozone Overseas, given its brand, market reputation, omnichannel approach and high-quality management team, is very well-positioned to take a disproportionate share of this opportunity.”
With this investment, Ozone Overseas said it aims to bolster its existing growth chart by expanding its manufacturing capacity, reinforcing brand presence, and exploring potential synergistic acquisitions.
Established in 1999, Ozone Overseas has emerged as a trusted market leader, providing a diverse range of 5,000+ products, including Glass Fittings, Shower Enclosures, Kitchen and Furniture Fittings, Door Fittings, Railing Solutions, Fingerprint Locks & Digital Safes.
The company’s adherence to international quality standards, a robust distribution network of 7,000+ retailers, and outstanding after-sales service have solidified its position as an industry frontrunner.
Over the past two decades, Ozone Overseas has established an extensive network of retailers across India, a robust global supply chain, and a sophisticated logistics network. The company’s technical support and product development enterprise have further solidified its position as a leading Make in India brand worldwide.
Over the last two decades, the group has successfully created a footprint that spans across the USA, Germany, Turkey, Italy, UAE, and other countries, besides its home base in India.
Nuvama Private Equity is part of the Asset Management business of the Nuvama group – one of India’s leading wealth management firms with client assets of over ~Rs.225,200 crore, servicing ~1,087,564 affluent individuals & HNIs and ~2,945 of India’s wealthiest families as of Q4 FY23.
PAG, one of the leading alternative investment firms focused on Asia Pacific, holds a majority stake in a partnership with Edelweiss Financial Services Ltd in Nuvama Wealth Management Ltd. Fiinews.com
