Canon India Private Limited has announced its confidence in bullish retail expansion plans for India, with the opening of its iconic 100th Canon Image Square (CIS) in Bangalore. Following Canon's successful footprint in the retail domain in Bangalore, this is the 8th exclusive CIS outlet in the technology capital of India.
The brand has developed robust plans including aggressive marketing strategy, new product launches, attractive pricing and retail expansion, with an aim to achieve an overall target of 25-per cent market share in digital compacts and 45 per cent in D-SLR during April–June 2013. All this will help the company to reach revenues of Rs.2,125 crore by the end of 2013 from Rs.1,850 crore in 2012 which is 15-per cent growth.
Alok Bharadwaj, Executive Vice-President, Canon India, said, "This exclusive CIS launch is a part of our constant efforts to provide our customers with an interactive and informative buying experience. Looking at the tremendous mid-term opportunities in the next 3 years in India, we are expanding our retail footprint. The photography
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industry in India is reconfiguring itself by manifesting in the form of growing interest in higher functionality in compacts and digital SLR.
Canon has always believed in promoting photography as a creative indulgence that needs a uniquely differentiated experience. Canon Image Square revenues are expected to be Rs.172 crore in 2013 which is a growth of 25 per cent over 2012. The biggest payoff is a 34-per cent higher average selling price for compacts and 21 per cent higher in Digital SLR."
The store layout has been designed keeping in mind customer flow and also for a visual experience. Spread over an area of 500 sq. ft., the store features a wide range of products including digicams, SLRs, Inkjet and laser printers and consumables.
