The Indian arm of the Japan-based electronic goods giant Casio has tied up with Reliance Retail to expand its distribution network. It is also learnt that the company is in talks with other major retail players for further expansion. Casio is expecting a turnover of over Rs 300 crore in the next five years.
“The company has tied up with Reliance Retail to sell its products through the latter’s outlets and is also in the process of finalising agreements with others,” a Casio spokesperson told Indiaretailing. He declined to disclose further details.
“India is witnessing a retail boom. We believe this is the right time to succeed by giving good visibility to the Casio brand. India’s big retailers can help us to increase our visibility and cross a turnover of Rs 300 crore in the next five years,” he added.
Last fiscal, the company clocked in a turnover of around Rs 60 crore. The company also plans to increase its exclusive outlets to 15 from the present five by this fiscal-end.
The firm, which sells electronic items such as calculators and synthesizers, besides watches, is also planning to expand its product portfolio in the country to include mobile handsets. “As the Indian market grows, we will launch more products, including mobile phones, in near future,” he confirmed.
The company accounts for more than 70 per cent share in the digital calculator segment, which contributes over 45 per cent of its turnover. Casio is also emphasising on promoting its synthesisers for which it has earmarked Rs one crore as promotional budget, he informed.