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CREATIVE NEWTECH LIMITED Capital/Financing Update 2020
62737_rns_2020-10-16_e2e92e74-68b8-4c2f-a71d-005196196e36.pdf
Capital/Financing Update
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Date: 16th October 2020
To, The Manager Listing Department National Securities Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East) Mumbai- 400051
Sub: Announcement for expanding product portfolio with Honeywell.
Dear Sir,
We are pleased to enclose a copy of press release regarding announcement of expanding our product portfolio with Honeywell.
Kindly take the same on record.
Thanking you,
Yours Faithfully
For Creative Peripheral and Distribution Limited
Tejas Doshi Company Secretary & Compliance Officer ACS – 30828
Date: 16th October 2020 Place: Mumbai
Creative Peripherals and Distribution Limited
Business Update Release
Further expanded product portfolio with Honeywell
Signed a Licensing Agreement for range of Honeywell Air Purifiers in 10 countries across the world
Mumbai, 16th October 2020: Creative Peripherals and Distribution Limited (NSE: CREATIVE) market specialists for experiential products in IT, Imaging, Lifestyle, and Security domains with a pan-India presence, is pleased to announce that it has expanded its portfolio of Honeywell products to include a range of air purifiers and related parts.
Creative Peripherals further expanded its licensing agreement with Honeywell to include a wide range of air purifiers for use in rooms and cars. The Company will be the licensee for this range of Honeywell products in 10 countries across the world.
The products encompass various models of air purifiers for rooms and vehicles, and related components for these products, totaling to 55 SKUs.
The agreement further solidifies Creative Peripherals' position as the licensee of choice for premium international brands, while broadening the Company's product domain.
Management Comment:
Commenting on this development, Mr. Ketan Patel, Chairman & Managing Director of Creative Peripherals & Distribution Ltd. said:
"I am happy to announce that our Company has expanded its licensing association with Honeywell to include a broad range of air purifiers.
This product range includes various types of air purifiers for indoor use in rooms and cars. We see a huge pick-up for such products especially in urban regions where rising pollution levels are a serious health concern for the masses. This agreement covers 10 countries and these products join a large and growing portfolio of Honeywell products that we currently offer.
Creative Peripherals and Distribution Limited
This development further solidifies our position as the licensee of choice for premium international brands such as Honeywell, to enter and proliferate in new markets. We are very proud to have earned such recognition and trust from this Fortune 100 company and expect this to encourage other global brands to partner with us for the licensing model of business.
Our journey so far with Honeywell has been very fruitful and we foresee a rewarding long-term association ahead. With our Hong Kong subsidiaries in place, we are fully equipped to scale up our international operations. I would like to thank all our employees and stakeholders for their continued hard work and support in our growth."
Company Overview
Established in 1992, Creative Peripherals and Distribution Limited is a well-established company in India's Information and Communication Technology distribution market. Through a robust network of partners and distribution channels, the Company has made a strong foothold in the IT distribution market in the country. The Company has an omni-channel network across all three channels of online, offline and retail trade.
Creative Peripherals specializes in market entry and penetration for global brands. The Company offers demographic intelligence, and enables the formulation and execution of marketing strategies for its clients. In addition to such services, Creative continues to focus on timely delivery, diversification of its product portfolio, sustained long-term relationships with its channel partners, and extending value-added services over and above distribution.
These efforts have enabled the Company to win long running contracts as well as garner accolades in the Industry as amongst the best distributors in India by leading brands. Creative Peripherals is associated with over 20 renowned brands globally. These brands encompass a wide range of applications and help the Company to cater to a broad array of customers, both in the consumer and industrial businesses. Moreover, the Company is well-positioned to leverage the changing trends in the technology industry and be a part of the paradigm shift towards digitization in India.
Creative Peripherals has a unique value-added business model. They provide end-to-end solutions, from market research and competition analysis for brands, to import, distribution, sales and servicing for the brand. Additionally, the Company suggests and executes marketing strategies and recommends viability in specific regions across India for their clients. This is enabled by specialized skill sets, local insights and experience, along with relevant market intelligence. Creative Peripherals also prepares strategic plans for market entry for foreign brands and their target category.
Creative Peripherals and Distribution Limited
Furthermore, the Company conducts pre-sales and marketing activities for the success of the brand as well as to enable the channel partners to leverage their expertise and bottom line. Creative Peripherals works closely with partners across channels including Large Format Retail (LFR), e-commerce and specialized retailers. The Company is one of the few large distributors who conduct specialized training modules, events and promotional activities at the ground level with channel partners. They also conduct workshops and demos for resellers. This is possible due to the dedication and experience of the corporate and sales teams which constantly track latest market developments to build a closer market connect.
The Company's wide reach and superior logistics capabilities helps it provide end-to-end services including warranty and post-warranty, high-level repair services, and response centers, among others. Such expertise and superior quality of service has led to increased confidence of brands, many of which have chosen Creative Peripherals as exclusive partners and have been with the Company since over five years. The Company focuses on higher operational efficiencies and adding higher-margin and value-added products to its existing product portfolio and such brand associations are a concrete step in that direction.
For more details please visit: www.ecreativeindia.com
| For further information please contact: | |
|---|---|
| Company Contact: | Investor Relations: |
| Abhijit Kanvinde | Bridge Investor Relations Pvt. Ltd. |
| Chief Financial Officer | Rahul Trivedi / Anviksha Konnure |
| Creative Peripherals and Distribution Limited | E-mail:[email protected]/ |
| E-mail: [email protected] | [email protected] |
Note: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other risk factors, viewers are cautioned not to place undue reliance on these forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forwardlooking statements to reflect subsequent events or circumstances.