Stovekraft

Stovekraft is an Indian company that manufactures cooking appliances under Pigeon and Gilma brands. The company was founded in 1999 and is headquartered in Bangalore, Karnataka. Among its cooking appliances are mixer grinders, pressure cookers, cooktops, toasters, chimneys and kitchen utensils.[4][5] It sells its products in 23 states in India and 12 countries overseas. Around 80 percent of Stovekraft's employees reportedly are women.[6]

Stovekraft
TypePrivate
Founded1999
FounderRajendra Gandhi
Headquarters
Bangalore, Karnataka
,
India
Key people
Rajendra Gandhi (Chairman & MD)
Neha Gandhi (Director)[1]
Rajiv Mehta (CEO)[2]
ProductsKitchen appliances
Revenue ₹642.5 crore (US$90 million)[3] (2019)
Websitewww.stovekraft.com

In 2017, Stovekraft entered a licensing agreement with American home appliances manufacturer Black+Decker to sell the latter's products in the Indian market.[7][8]

Sequoia Capital holds a 25% stake in the company, as of 2020.[9] In May 2020, Stovekraft received SEBI's approval to proceed with its initial public offering.[10][11]

History

Stovekraft operates two manufacturing plant in India including Bengaluru and Baddi, Himachal Pradesh.[3]

In 2019, the company appointed Rajiv Mehta, the former MD of Puma, as its CEO.[12]

References
  1. "Fast Forward". Business Today. Retrieved 16 June 2020.
  2. "Ex-Puma India head now CEO of Stovekraft". Times of India. Retrieved 16 June 2020.
  3. Sriram, M. (2020-02-04). "Sequoia-backed kitchen appliance maker Stovekraft files for ₹500 crore IPO". mint. Retrieved 2020-11-05.
  4. "IPO-bound Stovekraft looks to expand international presence". Moneycontrol. Retrieved 16 June 2020.
  5. "Stovekraft prepares for IPO before the end of 2019". The Hindu. The Hindu. 20 April 2019.
  6. "This Kitchen Appliance Company is Just a Step Away from Going Public". Entrepreneur. Retrieved 16 June 2020.
  7. "Black & Decker inks licensing deal with Stovekraft". The Economic Times. Retrieved 16 June 2020.
  8. "Stovekraft expand into premium small appliances with Black + Decker". The Economic Times. Retrieved 16 June 2020.
  9. "Sequoia eyes complete exit as Stove Kraft refiles for IPO". VCCircle. Retrieved 16 June 2020.
  10. "Sequoia-backed kitchen appliance maker Stovekraft files for ₹500 crore IPO". Livemint. Retrieved 16 June 2020.
  11. "Stove Kraft gets Sebi's go-ahead to launch IPO". Outlook. Retrieved 16 June 2020.
  12. "Ex Puma head Rajiv Mehta joins StoveKraft as CEO - ET BrandEquity". ETBrandEquity.com.
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