19th January, 2018
Paint maker, crown paints is betting big on growing it's sales numbers even as the country moves forward after a gruelling election period that dampened business prospects in the county. The paint manufacturer is looking to capitalize on rebounding economic activity in the real estate sector. The construction industry last year shrunk by about 7 to 8 percent. The firms CEO Rakesh Rao noted that product innovation will continue to be the company's main priority while focusing more on niche markets to improve market share from 60% to 65% in the premium sector. Last year crown paints reported a 51.6 percent jump in the half year net recording a Ksh 60.4million net profit. Rao said the company plans to launch a major campaign drive to educate and connect with the painters’ fraternity as a way of establishing a long-term partnership that will improve the market needs and increase demand for its products.