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Stovekraft propels growth with target of 500 exclusive stores by 2027
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Wednesday, 21 January, 2026, 12 : 00 PM [IST]
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Our Bureau, Bengaluru
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Stovekraft India’s leading kitchen and home appliances company and the face behind popular brands such as Pigeon, Gilma, and BLACK+DECKER, has announced plans to significantly scale its retail footprint, targeting 500 exclusive stores by April 2027.
The company’s consistent performance and sustained growth reached an important milestone recently with the successful launch of over 300 standalone and exclusive stores led by its flagship brand, Pigeon. This milestone signals Stovekraft's strong momentum, reinforcing its deep connect with households across India.
Its retail expansion has been carefully designed to cater to the evolving needs of consumers across India’s diverse markets. With an emphasis on both metro cities and smaller towns, Stovekraft has already made significant inroads into Tier 1, 2, and 3 cities, and is now intensifying its focus on North and West India for the next year. In particular, states like Uttar Pradesh, Maharashtra, Madhya Pradesh, and Bihar are expected to see a proliferation of Stovekraft’s retail presence as the company works to ensure its products are accessible to more customers.
To support this ambitious retail expansion, it is actively inviting franchise partners to join its growing network of exclusive stores. The company’s franchise model offers a compelling opportunity for entrepreneurs, with a rent-sharing arrangement that lowers the barrier to entry and ensures mutual profitability. Franchisees benefit from end-to-end support, including assistance with site identification, marketing, staff training, legal agreements, and ongoing operational guidance. This approach not only accelerates Stovekraft’s expansion goals but also empowers local business owners to become part of a trusted and high-growth brand.
Rajendra Gandhi, managing director, Stovekraft said, “We are focused on building a strong network of exclusive stores across India, particularly in North and West India, where we see tremendous growth potential. “Our goal is to expand to 500 exclusive stores by 2027, supported by our franchise model, which not only enables us to expand efficiently but also creates employment opportunities across regions. This model builds on our legacy of customer trust, ensuring that as we grow, we continue to uphold our promise of quality, satisfaction and long-term relationships with households across India,”
The key differentiators of Stovekraft’s exclusive retail stores include a wide range of products across multiple categories, from kitchen appliances to home essentials. Each store is designed to offer a superior shopping experience, with an emphasis on customer service and product knowledge. Additionally, its online price match policy ensures customers can always get the best deals, whether shopping in-store or online.
The Indian retail industry itself is on a strong growth trajectory, with the kitchen and home appliances segment playing an increasingly important role. According to a Deloitte–FICCI report, the Indian retail market, valued at USD 1.06 trillion in 2024, is projected to nearly double to USD 1.93 trillion by 2030, driven by a CAGR of 10%. Rising domestic consumption, digital adoption, premiumisation, and the rapid growth of e-commerce are reshaping the sector. Stovekraft’s expansion strategy is closely aligned with these trends, positioning it to capture the opportunities presented by India’s expanding middle class and their growing demand for quality home appliances.
Stovekraft, with Q1 2025 revenues growing by 8.2% to Rs 340 Cr. The company is expecting a 15% year-on-year growth over the next 3 years, and continues to invest in strengthening its manufacturing facilities. This investment ensures that Stovekraft is well-positioned to meet the increasing demand for its products, both domestically and internationally, said Gandhi.
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