Asian Paints forays into decorative lighting and fenestration biz

Asian Paints has announced the acquisition of two companies, out of which one is engaged in decorative lighting and the other in fenestration. Both of them are small acquisitions to enable the company's foray into the two new segments. Nine years ago, the company entered the modular kitchens via the acquisition of Sleek Kitchen and then a year later into bathroom fittings via Ess Ess bath fittings. They both contributed only 2.5% to the top line of the company for the nine months ended December 2021. It is unknown whether the latest acquisitions will make a major difference to the overall business. The company intends on expanding its presence by being involved in baths, furniture, kitchen, furnishings, and lighting. Asian Paints intends to turn into a complete home decor company from a decorative paints company, and the acquisitions are the steps taken in that direction. During the pandemic, Asian Paints introduced hand and surface sanitisers which brought it into direct competition with Hindustan Unilever, Godrej Consumer Products, and Reckitt Benckiser. Image Source