- This topic has 0 replies, 1 voice, and was last updated 9 years, 9 months ago by
.
-
Posts
-
Canon to Open 9 New Oem Brand Stores Across India
KOCHI India : Digital imaging technology provider Canon is planning to increase its footprint in Kerala by opening nine new brand stores by next year, said Alok Bharadwaj, senior vice president of its Indian arm. He was talking to reporters after launching the company’s Onam offers in Kochi on Wednesday.
"On Tuesday, we signed up with three more stores in Kerala, of which two are in Kochi and another one in Thiruvananthapuram. The company currently has a brand store in Kochi, which generated revenues of Rs 2 crore during the last one year," Bharadwaj said. The company has registered an impressive 110% growth in the Kerala market.
Canon is planning to roll out brand stores across the country in an aggressive manner. During the last calendar year, the company opened 73 such exclusive stores in 42 towns in India, with the market share growing by 9% to reach 25%. Towards the end of the calendar year 2014, Canon will have 300 brand stores in the country, generating Rs 1,000 crore, Bharadwaj said. Around 43% of the revenues of the company is now coming from 590 small towns in India.
Consumer sentiments and rupee devaluation have affected the sales of the company, said Bharadwaj. "Consumer sentiments are a bit low, firstly due to inflation and secondly due to the anxiety of the consumers about the future," he said. Rupee had 24% devaluation over last one year and the technology companies who import products won’t be able to absorb this, Bharadwaj noted. The company will spend Rs 40 crore for marketing during the festival season in the country, which starts with Onam and ends with Christmas.
- You must be logged in to reply to this topic.