● TTK Prestige acquired a strategic stake of over 40 percent in the equity of UltrafreshTies in with TTK Prestige’s overall goal of becoming a total kitchen solutions brand
* Ties in with TTK Prestige’s overall goal of becoming a total kitchen solutions brand
* Entry into the INR 9500 crores modular kitchen space is a natural extension for TTK Prestige
* TTK Prestige is now a unique player equipped to offer kitchen appliances and modular kitchens all under one roof
* Ultrafresh launches 2700 sq.ft. experience centre under the brand ‘ Ultrafresh powered by Prestige ‘ in Bengaluru
Bengaluru , 27th June 2022 : TTK Prestige , India’s leading kitchen appliances company , today announced the progress on a strategic investment and business collaboration deal with Ultrafresh , an end – to – end modular kitchen solutions provider . TTK Prestige has acquired a strategic stake of over 40 percent in the equity of Ultrafresh to forge a business collaboration between the two companies . The initiative ties – in with TTK Prestige’s overall goal of becoming a total kitchen solutions brand .
At a press conference held in Bengaluru , the company revealed that the business is well on its way to achieving double – digit growth , having made in – roads through innovative products in multiple categories such as cookers , cookware , gas stoves and appliances .
As a leader in the kitchen appliances space , making an entry into the INR 9500 crores modular kitchen industry is a natural extension for TTK Prestige as a brand . This is a significant move , as it makes TTK Prestige a unique player equipped to offer kitchen appliances and modular kitchens all under one roof . It is estimated that the Indian modular kitchen market will grow at a CAGR of 20 per cent during 2021-2026 and will hit INR 23000 crores in the next 5 Years.
As part of the business collaboration , Ultrafresh Modular Solutions has opened their first experience centre in Koramangala , Bengaluru . With multiple designs of kitchens on display at the 2700 sq feet store , customers can get a first – hand glimpse and choose from the vast array of modular kitchens to suit their unique requirements . Ultrafresh pioneered steel kitchens in India and screwless cabinets . Currently , the brand has 120 studios and they have manufactured 5000 kitchens across the country .
Mr. T T Jagannathan , Chairman of TTK Prestige said : ” As a business , we are proud of the solid all round performance that TTK Prestige has delivered . We are committed to growing our presence in
the kitchen space . This means that we are always thinking outside the box and are pleased to go the extra mile to add value to the lives of our customers . Interestingly enough , we have seen strong demand for innovative and premium products . This is aligned with our commitment to innovation as a business and our desire to provide home cooks with products that elevate their cooking experience .
” Mr. Chandru Kalro , Managing Director , TTK Prestige said : ” It is said that when two powerful and driven brands come together , they create a formidable force . That is precisely what we have done with this partnership . This initiative is reflective of our long – term vision of owning the entire kitchen space . For over six decades , our valued customers have come to rely on us as their kitchen appliances brand of choice . Today , we are pleased to go above and beyond by being a one – stop shop for all things related to the kitchen . We are committed to taking Indian kitchens on a journey of transformation , though our total kitchen solutions offerings .
” Mr. Dhruv Trigunayat , Chief Executive Officer , Ultrafresh Modular Solutions Limited said : ” We are very honoured to join hands with an esteemed organization like TTK Prestige . Ultrafresh from the very beginning has come to the market with the ambitious vision of becoming the No. 1 modular kitchen brand in India , and this ambition could not have found a better partner than TTK Prestige . With obvious business synergy at product , channel , and infrastructure level , and mentorship from the team that has sustained market leadership for decades , together as Ultrafresh powered by Prestige , we are best placed in the industry to make the kitchen space our own . We are filled with energy and enthusiasm , and hope that both organizations derive the most value from the partnership . “
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