Higher customer adoption and increased channel off-take spur excellent showing in 2013; LAPCARE Plans to Tap Newer Markets by Expanding Channel Base across Tier-2 and Tier-3 Cities & Towns
LAPCARE, developers of laptop peripherals and accessories for all premium laptop brands, has announced that it has recorded impressive 40% YoY growth in 2013. LAPCARE plans to sign up new channel partners to further enhance its impressive growth story in India. This will come by the company expanding its distribution network across Tier-2 and Tier-3 cities to address.
India market has matured and has become sizable when it comes to laptop accessories. The accessories market is estimated to be over 15 million dollars (US figures). Portable mice, Privacy screens, cooling solutions with laptops, Wireless Presenters, functional backpacks, etc are going to will continue to enjoy an upward consumption trend. The traction for all kind of accessories has gone up, and the growth has been rather good in accessories business which is purely driven by laptop sales. Diverse market with diverse customer preferences makes it a big challenge to market our products in a way that will connect well with the customers. Consumers want products that are portable travel friendly and light and to meet these demands, LAPCARE is adding more innovative range of products.
LAPCARE is currently in process of identifying the right partners in Tier-2 and Tier-3cities like Ahmadabad, Chennai, North East, Hyderabad, Jabalpur, Rajkot and Surat with a sedate start of its India operations. LAPCARE has received good visibility in the market because of its innovative and high performance products. In the year 2013, North region was the largest contributor to the LAPCARE business in terms of revenue and RD base, providing more than 40% share of its total business in India. It is followed by East region at 25%, South region at 20% and West at 15%
Shedding more light about the expansion plans, Sandeep Popli, COO at LAPCARE India said, “We achieved a remarkable sales growth in the year 2013 by 40% which broke all previous highs. In a very short span of time, LAPCARE products are well accepted by Indian consumers. We are planning to take that to next level and be at the helm of laptop peripherals and accessories brand in India. Expanding in Tier 1 and Tier II cities will help us in addressing local demand with closer focus in each geography, and it will ensure we remain on top of the situation in our quest of providing innovative products and solutions.“