February 28, 2021

Canon to open 100 stores in India by 2014

canonjanTHIRUVANANTHPURAM: With an aim to expand its market base, Canon India Private has decided to open 100 more exclusive outlets for its products titled Canon Image Square in different parts of the country, taking the tally of such outlets to 200 by 2014.

Talking to reporters after opening the 101st CIS, company executive vice president Alok Bharadwaj said its marketing strategy was with an aim to achieve an overall growth target of 20 per cent in the coming years.

The plans would also help the company to reach its revenue target of Rs 2,125 crore by the end of 2013 from the Rs 1,850 crore last year, that recorded a 15 per cent growth, he said.

Stating that the camera market at the entry level was shrinking due to arrival of ‘smart phones’, he said photography industry in the country was reconfiguring itself by manifesting in the form of growing interest in higher functionality in compacts and digital SLR.

On CIS initiative, he said CIS revenues were expected to be Rs.172 crore in 2013. The 102nd CIS would be opened at Kochi tomorrow, he added.

Kerala’s Camera market has touched around Rs.300 crores out of the Rs.4,000 crore industry in the country, he said adding the market was growing by 26 per cent in the state.

Source-Times of india