Polycab India recently undertook to major change in its brand philosophy with a view to extending its traditional leadership in the wire & cable business to areas like electrical appliances, home automation, etc. In this interaction, we have Bhushan Sawhney – Executive President & Chief Business Officer (B2B), Polycab India Ltd, discussing the company’s “brand refresh” as well as its diversification drive. Sawhney explains that Polycab is shifting its positioning from being primarily a B2B brand to embracing a consumer-centric approach, focusing on the well-informed and sustainability-conscious young population.
What impact do you see on Polycab’s new brand philosophy “Ideas. Connected.” on the wire & cable business of Polycab India?
Transitioning from ‘Connection Zindagi Ka’ to ‘Ideas. Connected.,’ Polycab is undergoing a transformative shift that not only fosters connections between people and ideas but also propels the company into a new era of growth and relevance. The updated brand philosophy underscores Polycab’s ambition to lead in delivering innovative, future-ready products tailored for connected homes.
While traditionally recognized for its excellence in manufacturing cables and wires, Polycab has now diversified its offerings to present a comprehensive array of electrical solutions for contemporary, digitally connected households, epitomized by the new tagline ‘Ideas. Connected.’
The brand’s refreshed strategy seeks to expand Polycab India’s audience base by appealing to a novel demographic: well-informed young consumers who possess a keen understanding of modern electrical and technological requirements. Polycab India is poised to meet this demand through its diverse product range and a robust brand reputation.
How has been the overall response to “Polycab Green Wire which we understand is a highly safe and efficient wire? Do you see end-consumers appreciating softer issues like the safety and energy efficiency of wires?
It is worth noting that according to the National Fire Protection Association (NFPA), most fire-related fatalities result from smoke inhalation rather than burns. An estimated 50-80 per cent of the fatalities occur due to toxic smoke inhalation injuries, rather than burns.
This is where Polycab Green Wire stands out by incorporating special polymers that restrict the emission of toxic gases, making it a considerably safer choice compared to traditional wires. This safety aspect is particularly crucial in fire incidents, where toxic gas emissions can prove fatal.
Furthermore, Polycab Green wire boasts superior energy efficiency compared to traditional wires, thanks to its lower electrical resistance, which reduces energy loss during transmission. This translates into significant savings on energy bills over time.
Today’s consumers are increasingly prioritizing nuanced issues such as safety and energy efficiency when it comes to choosing electrical products. This shift is driven by a growing awareness of the importance of sustainability and environmental protection. Young consumers are actively seeking sustainable options, making eco-friendly wires an ideal choice for them.
Tell us in brief about Polycab India’s entry in the home automation services space. How does this complement your wire & cable and FMEG business?
Home automation services are becoming increasingly popular in India, driven by rising incomes, urbanization, and the growing adoption of smart home technologies. We have entered this space with the aim to leverage our expertise in the wires and cables industry to provide high-quality, reliable home automation solutions to our customers.
Our home automation services are integrated with our existing FMEG products, such as switches, fans, and lighting solutions, to provide a seamless experience for our customers. This has helped us to differentiate ourselves from competitors and provide a unique value proposition to our customers. As Polycab, we want to be a company that understands every home’s electrical needs be it wires, lighting, fans, or automation.
With the recent “Brand Refresh” and the sponsorship of the “ICC Cricket World Cup 2023”, how do you see Polycab’s brand image and perception changing in the overall consumer base?
Polycab has made a remarkable transformation, shifting its positioning from being primarily a B2B brand to embracing a consumer centric approach. This shift in brand philosophy is likely to appeal to a wider range of consumers, including younger consumers and consumers who are interested in smart home technology. The new brand philosophy is also likely to help Polycab strengthen its position as a more innovative and forward-thinking company.
We have introduced a range of products tailored specifically for the new age consumers. This exciting product range encompasses smart home solutions, innovative lighting solutions, and a wide array of electrical accessories. In response to the growing urbanization and increasing disposable incomes in India, we have also expanded our distribution network to ensure greater accessibility for B2C customers.
Polycab’s sponsorship of the ICC Cricket World Cup 2023 is also likely to have a positive impact on its brand image and perception. The Cricket World Cup is one of the most popular sporting events in the world, and it is watched by millions of people around the globe. Polycab’s sponsorship of the tournament will give the company a global platform to showcase its brand and reach a new audience.
In addition, the Cricket World Cup is a tournament that is associated with excitement, competition, and teamwork. These are all values that Polycab India wants to be associated with. By sponsoring the tournament, Polycab is hoping to create a positive association with its brand in the minds of consumers.
(This interview was conducted during the ICC Cricket World Cup 2023 season that took place from October 5, 2023 to November 19, 2023)
