Royal Philips, the European giant involved in manufacturing and retailing consumer products world wide, is all set to start its India operation over the next couple of years. The company, as part of the plan, will set up a special group in Delhi to study the market condition of India across all the verticals of retail.
Speaking to media on the sidelines of the Internationale Funkausstellung (IFA) held in Berlin recently, Egbert van Acht, chief marketing officer, Royal Philips Electronics, said: “India is now among the top three priority areas for Philips along with China and Brazil and we are investing heavily for a brand building and retail marketing exercise in India.”
“We see a huge opportunity area in the market of consumer lifestyle and healthcare products in India. But it will happen after the completion of Philips’ India-specific market research,” added Acht.
Elaborating the plan, Acht said, “Though funding is a problem right now, Philips has planned some alternative sources and as a matter of fact it will de-prioritise its television business in North America.”