Canon India, which has forayed into the retail business recently, expects a turnover of Rs.100 crore in the first year from its exclusive outlets. The company’s first retail store has come up at Great India Place Mall, Noida and covers an area of 1,400 sq.ft.
“From the exclusive stores, the company is expecting a revenue of Rs.100 crore in the first year and Rs.600 crore in the third year,” said Alok Bharadwaj, senior vice-president, Canon India.
The company plans to open around 300 exclusive stores within three years, including five by the end of this year – three outlets in the national capital, followed by one each in Nashik and Bangalore.
“The company plans to invest about Rs.50 lakh per store and Rs.150 crore in the next three years,” Bharadwaj said.
Kensaku Konishi, president and CEO, Canon India, said, “The Canon store will offer solutions for customers seeking high-end photography and printing solutions, where both click and print products from Canon will be available.”
The outlets will sell all Canon products including cameras, camcorders, photo printers, D-SLRs and lenses, inkjet printers, entry-level laser printers and accessories.
As part of the retail foray, the company has introduced a division, called the ‘Brand Retail Business’.
“The division would create a network of franchisees and maintain harmonious, consistent and contemporary look and feel in all stores,” Bharadwaj added.
– IndiaRetailing Bureau