Panasonic India, a consumer durables manufacturer, has stated that it is expected to emphasis strongly on the Indian Tier 3 markets by the next financial year 2013-14. Panasonic India is an arm of Japan-based Panasonic Corporation.
The company would be stressing on the 'mass segment products' and also look at the new channel partners to make its presence felt in the smaller towns.
Presently, it has 8,500 dealers and 134-standalone stores. The company is mulling to raise the count of the exclusive store count to 200 by year-end.
Manish Sharma, managing director, consumer products, Panasonic India Pvt Ltd, said, “We were earlier considered as a niche product. But now we want to focus into the mass category. The biggest growth is in smaller towns.”The non-Tier-I towns, presently, are responsible for 15% of the consumer products' segments top line. The division was aiming to raise the contribution of Tier II and Tier III markets to close to 30% of its turnover. The consumer products division witnessed turnover of Rs 3,200 crore during the last fiscal (2011-12).
Sharma has said that the consumer division segment is likely to break in the present ongoing financial year.
Panasonic India has decided to opt for $300-million investment in India that will consist establishing of a new unit at Jhajjar (Haryana) and also marketing campaigns.
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