Aug 11 2009
Even in a rapidly growing market like India, growth is not always a given. Near the end of 2006, the DuPont Fluorochemicals business was impacted when the only Fluorochemicals distributor in India decided to leave DuPont to join a competitor.
Fluorochemicals team in India is experiencing rapid growth as a result of their business growth strategy.
Thierry Vanlancker, global business director, DuPont Fluorochemicals, then organized and led a strategy workshop to develop a course of action to quickly build business in the Indian market. The team focused its efforts on:
- highlighting the company's wide product portfolio
- enhancing the distribution network
- converting new OEM (original equipment manufacturers) accounts
As a result, revenues reached $7.7 million in 2008 -- a 100% plus growth over the previous year. "With a clear strategy we were able to act quickly to build self reliance on repacking and licensing," said Rohit Chaturvedi, India business manager, Fluoroproducts. "The strategy planning was key to precisely identify critical areas to improve, and effectively channel efforts and resources with precision to gain back the market."
The results of the strategy implementation have paid off as market gains continue into 2009. The Fluorochemicals business now has a strong distribution network, has weakened the competition, and has become a significant force in the hydrofluorocarbon (HFC) market. As of April 2009, sales have increased 45% over the same period last year, variable contribution is up to 24%, and market share for HFCs has grown from 15% in 2008 to 33% in 2009. All this was achieved despite strong headwinds such as the depreciation of the Indian currency, an economic slowdown, and infrastructure-related challenges.
"The whole experience boosted our confidence in our ability to rally global, regional and country teams behind a common goal to aggressively take back share and grow despite worsening economic conditions," said Balvinder Kalsi, president, DuPont India. "It proves that we can turn a small set-back into an opportunity to grow stronger when we work as a team."