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BUSINESS

Nippon Paint Malaysia aims to double contribution from unit

04/08/2022 02:11 PM

By Siti Radziah Hamzah

KUALA LUMPUR, Aug 4 (Bernama) -- Nippon Paint (Malaysia) Sdn Bhd aims to double the contribution of Australia’s Selleys to its total revenue in 2022 and 2023 from the 4.0 per cent in 2021, driven by the heightened interest of Malaysians to do-it-yourself (DIY) in their homes.

Selleys is a brand that has pioneered the home improvement category for over 80 years originating from Australia. Nippon Paint completed the acquisition of Selleys in 2019 and in 2021, Selleys has contributed RM12.3 million in sales revenue to the overall Nippon Paint Malaysia performance. 

Nippon Paint Malaysia general manager of group trade user business Chen Lee Siong said the company was committed to offering high-quality, innovative products that will meet our customers’ home improvement needs for both commercial and personal use.

“As Nippon Paint strives to serve the people better from every aspect, we understand that the DIY segment has grown tremendously in line with rising costs as well as the flexibility and personal satisfaction in fixing and decorating our own home.

“Hence, we hope that having Selleys product range at every home will not only serve the market segment but also improve our market footprint here in Malaysia,” he told Bernama. 

There are six segments under Selleys products namely sealant, adhesives, fillers, lubricant, cleaning range and accessories. 

Chen said Selleys products can be purchased at most hardware stores and modern home improvement centres and prices vary according to products as Selleys products come in blister packs and cartridges.

He noted that even before the pandemic hit local markets, the DIY market had started gaining traction and more and more DIY serving retails had opened their doors.

“While physical stores might face difficulties during the pandemic season, online demand for DIY items has skyrocketed. 

“Today, even though we are in the transition to the endemic phase, the demand for DIY items is still high, driven by online inspiration/ideas to decorate our own home at a lower cost. Hence, on the sales front, we believe that there is a huge market to tap into and we could definitely scale it up in due course,” he added. 

Chen noted that Selleys’ market share was still relatively small in the sealants, adhesives and fillers (SAF) market compared to other bigger brands such as v-tech, Mohm and Sika. 

“However, we aim to gain at least 11 per cent of the market share in the next five years,” he added.

-- BERNAMA

 


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