Denmark’s premium consumer electronics brand Bang & Olufsen is looking at opening eight standalone stores and 70 shop-in-shops in India over the next two years as part of its expansion plans.
“We are looking at setting up 8 stores and 70 shop-in- shops in the next two years to expand Bang & Olufsen brand’s reach in the country,” CEO, Beoworld India, Gaganmeet Singh told PTI.
According to a PTI report: Beoworld India licenses the Bang & Olufsen (B&O) brand in the country.
At present, Bang & Olufsen brand has presence in Delhi, Bengaluru and Mumbai with a total six outlets.
BeoWorld is planning to open new B&O’s stores in cities like Hyderabad, Kolkata, Mumbai, Pune, Ludhiana and Kochi.
Singh, however, did not disclose to PTI the investments the company will make in opening new stores.
“After opening our flagship stores in up to Rs 4,000 square feet space, we are now looking at opening smaller stores. These smaller stores, with lesser capital required to open, will help us in reaching out to more customers,” Singh was quoted by PTI as saying.
He said the company will also open 70 shop-in-shops at large electronics retails chains such as Chroma in the next two years.
At present, it operates 30 shop-in shops in India.
Bang & Olufsen’s product range include televisions, music systems, loudspeakers and multimedia products are priced in the range of Rs 12,000 to Rs 70 lakh.