Home and Office Solutions Brand Ozone Overseas Raises Rs 250 Crore in Funding
Ozone Overseas, a renowned brand in the home and office improvement solutions market, has successfully secured Rs 250 crore growth funding from PAG-backed Nuvama Private Equity's latest late-stage/pre-IPO series of funding.
With this investment, Ozone Overseas aims to bolster its existing growth chart by expanding its manufacturing capacity, reinforcing brand presence, and exploring potential synergistic acquisitions.
Established in 1999, Ozone Overseas has emerged as a trusted market leader, providing a diverse range of 5000+ products, including Glass Fittings, Shower Enclosures, Kitchen and Furniture Fittings, Door Fittings, Railing Solutions, Fingerprint Locks & Digital Safes.
The company's adherence to international quality standards, a robust distribution network of 7000+ retailers, and outstanding after-sales service have solidified its position as an industry frontrunner.
Alok Aggarwal, Chief Executive Officer and Managing Director, Ozone Overseas, highlighted the growth prospects enabled by the capital infusion, stating, "By leveraging this capital, we are well-positioned to accelerate our growth trajectory. Our focus remains on building a consumer-first brand that resonates across touchpoints, including franchise outlets, e-commerce platforms, experience centres, and an extensive retail network.”
He said that strengthening their after-sales service and delivering solution-focused products would further enhance customer experience.
“As we expand our manufacturing and R&D facilities, we proudly contribute to the Make in India for the World journey. With our strategic network expansion into tier 2 and tier 3 cities, we aim to bring our innovative home and office improvement solutions closer to a wider audience," he added.
“This investment seamlessly aligns with Crossover's investment philosophy of backing industry leaders who have a demonstrated track record and exhibit robust growth prospects. The strong momentum in commercial and residential segments is expected to lead the demand for ancillary building and architectural hardware solutions that Ozone Overseas specializes in,” said Pranav Parikh, Managing Partner, Nuvama Private Equity, commenting on the investment.
“Unlike other home improvement categories, this space is still highly fragmented, with a large share being catered by unorganized players. We see an increasing shift from unorganized to organized and expect consolidation of market share among a few large players over the next decade,” he further added.
Over the past two decades, Ozone Overseas has established an extensive network of retailers across India, a robust global supply chain, and a sophisticated logistics network. The company's technical support and product development enterprise have further solidified its position as a leading Make in India brand worldwide.
Over the last two decades, the Ozone Overseas group has successfully created a footprint that spans across the USA, Germany, Turkey, Italy, UAE, and other countries, besides its home base in India. - TWL Bureau
UN Chief Guterres: Humanity has Opened the Gates of Hell on Climate
Hindu Canadians are 'Soft Targets': MP Chandra Arya Responds to Khalistani Leader's Threats
Eliminating Sanatan Dharam Will Destroy Untouchability: Udayanidhi
Audio Platform Kuku FM Raises $25M, Focuses on Expanding Indian Language Content
Local BJP Leader Beats Injured Tribal Man With Slipper In MP's Anuppur