Basik Homeware wants to make stainless steel products beautiful and user-friendly

Stainless steel may be durable and environmentally friendly, but stainless steel cans and containers are often seen as dull and boring. Basik Household Items wants to change this perception with a line of stainless steel products that are functional, safe, stylish and easy to transport.

Mumbai-based Basik Homeware was founded in 2016 by siblings Vidhi Jain, a former fashion designer, and Viral Jain, who worked in his family homeware business. The siblings, who had grown up around housewares, realized it was okay to start their own business in the same industry.

According to Vidhi, Indian consumers want products that are colorful, refreshing in design and affordable. And that’s what Basik Homeware wants to offer consumers.

The local brand offers a range of storage items such as vacuum flasks, tiffin boxes, water carafes, pots and coffee mugs in a range of colors and designs, priced between Rs 100 and Rs 1000.

Basik Homeware aims to make stainless steel products affordable for people of different income groups. “Stainless steel is generally expensive due to the higher cost of production. Basik Homeware products are around 25% cheaper than other brands in the market. We have eliminated the cost of importing raw materials,” says Viral.

“Many stainless steel products are imported from China; customers pay higher cost for good quality. This leads to depriving certain economic classes of the possibility of owning good quality household goods. We want to give people the same quality at a better cost,” says Vidhi.

In addition to offering an affordable and stylish line of products, the company also wants to provide consumers with an eco-friendly alternative to plastic, which seems to have taken over the household goods market. While its products are mostly made from stainless steel, some parts are made from BPA-free plastic.

how it started

The duo built the brand with a loan of Rs 2 crore; they have also benefited from additional financial assistance from government programs such as “Atmanirbhar Bharat”.

Initially, Vidhi and Viral faced challenges in executing their plan, hiring a technically skilled workforce, setting up quality infrastructure, and managing operations to support the business. The next hurdle was the pandemic.

“During the pandemic, sales plummeted and production was staggered as the majority of labor was unavailable. Since we depend on commodity vendors and suppliers, the working capital flow chain has stopped due to a financial crisis. After conceptualizing and waiting for things to settle, we decided to rethink our distribution and supplier channels,” explains Viral.

Manufacturing and supply

Basik Homeware has a manufacturing unit in Vapi Industrial Hub in Gujarat.

Factory workers were taken on as apprentices from nearby areas and trained to handle advanced machinery as part of the government’s Skill India campaign. Later they were employed full time.

On the supply side, the company has ties with major brands such as Jindal and Salem Steel for stainless steel supply. The steel is recyclable, antibacterial and durable, according to the company. “We want to work with a raw material that is sustainable, sustainable and supplied by reliable suppliers”, explains Viral.

The company is keen to produce everything in-house and reduce the country’s dependence on imported products. Viral says, “During the pandemic, the import business was struggling when it came to logistics. It was a big problem to bring in raw materials from abroad. So we decided to manufacture products in-house to make things more convenient. It also aligned with our values ​​to be more self-sufficient.”

(L) Basik Homeware manufacturing unit in Vapi, Gujarat; (R) The brand’s stainless steel products

Innovative design

The brand experiments with designs and colors to give its products a contemporary touch and an alluring look. He collaborates with independent artists and graphic designers for the same.

Basik Homeware’s Gold Leaf collection features products with a black and gold combination and matte finish, while its Junglee Summer collection targets school children, with fresh, vibrant colors and cartoon characters. The packaging contains games and puzzles to attract children. There is another collection in the works aimed at young urban customers.

The company uses processes such as spray painting, powder coating, screen printing and hot stamping for color and texture. The dyes used in the paints are food safe, says the company’s founder.

Basik Homeware product line

Revenue model

Basik Homeware generated revenue of Rs 27 crore in the financial year 2022, selling 3 lakh units per month. The company is targeting Rs 60 crore in FY2023.

Basik Homeware’s products are sold at outlets such as D-Mart, Reliance, Walmart India, Lifestyle, Star Bazaar and Metro Cash and Carry across the country. The company’s products are also available online on its own website and on Flipkart and Amazon.

The company has also partnered with local distributors in Maharashtra, Gujarat and Rajasthan. It plans to expand distribution to markets in Delhi, Punjab, Uttar Pradesh, Tamil Nadu, Kerala, Telangana and Karnataka.

In addition to retail customers, the company also has B2B customers in the area of ​​corporate gifts. Basik Homeware has also partnered with brands such as Sun Pharma, Wagh Bakri Tea and Ambuja Cement to offer promotional gifts.

Expansion plan

Going forward, the company is looking to increase its current manufacturing capacity of 10,000 units per day, expand its workforce and import new machinery. It is also in the process of acquiring 10 acres of land to set up another manufacturing unit.

Basik Homeware plans to bring in investors and go public in three to four years. Over the next five years, the company wants to expand its presence in the Indian cookware market, which is worth more than $80 million.

Previous The Organization | [TCG] Structure deck with Traptrix
Next Randy Baker named director of water services