~Plans to undertake major retail expansion Telengana and Andhra Pradesh~
~The collaboration to take the brand to newer heights across South India markets and nationally~
Mumbai, 28th February 2023: Shyam Steel, one of the leading producers and manufacturers of primary TMT bars, has announced today that it has roped in leading Indian actor Vijay Devarakonda as its brand ambassador. The group also announced its major plans to expand and revamp its retail operations across the Andhra Pradesh and Telengana market followed by other states in South India. Vijay Devarakonda is the newest member to be added to the pantheon of famous endorsers for Shyam Steel. The Andhra and Telengana markets have huge growth potential for the steel sector, and Shyam Steel will aim to be one of the leaders in the primary TMT bar segment across the region.
Commenting on the association with Vijay Devarakonda, Mr. Lalit Beriwala, Director, Shyam Steel Industries Limited said, “We are delighted to associate with Vijay Devarakonda. Vijay’s persona resonates with our brand vision and this association with him will not only help us in building a presence in the southern market but also increase our brand penetration and awareness across the country due to his pan-India fan following. We are confident that his onboarding as an ambassador will help us to collaborate and engage better with our target consumers in the national markets.”
On associating with Shyam Steel, Vijay Devarakonda said “I am happy to join hands with Shyam Steel whose brand vision resonates with me. I am super excited to start our journey and be part of exciting new campaigns for the brand. I look forward to a long and fulfilling partnership through this association”.
The Southern India market has witnessed a steady economic growth in all the core sectors of economy. Focus of the State Governments on infrastructural development, construction of urban and rural housing, roads, bridges, and creation of more irrigation facilities will contribute towards the growth of steel business in the region. Incidentally, Telangana is one of the fastest growing states in India posing average annual growth rate of 13.90% over the last five years. Growth rate in Andhra Pradesh is also 13.14% with per capita income having increased to Rs.1,22,376 and GSDP standing at 3.64%. All these factors are the main driving reason for Shyam Steel to expand its business in the region.
Shyam Steel plans to onboard more than 500 dealer distributor networks in the Andhra Pradesh and Telengana markets in the next 5 years’ time. The Group’s business activity will also drive immense potential for employment generation which will increase as per the growth of the business in the region. The Group is very bullish on its growth potential and will be effectively looking to enter in all districts and be a part of every household assisting them to build their dream home. The brand will soon launch a 360-degree campaign highlighting the association with Vijay Devarakonda