AIWA plans Rs 200 cr biz in audio category in India, Retail News, ET Retail

New Delhi: Japanese electronics brand AIWA on Tuesday launched a new line of ‘Luxury Acoustics’ speakers and said it expects its audio category to represent around Rs200 million nationwide over the course of the next two years. The company, which is celebrating its 70th anniversary globally, aims to transform its Indian operations into a billion dollar business over the next five years, as it expands into new product categories and strengthens its presence in the country.

AIWA India Managing Director Ajay Mehta said the company plans to turn its Indian operations into a billion dollar business over the next five years as it offers multiple products in categories such as audio, television, washing machines, refrigerators, air conditioners and air purifiers.

He added that the company expects to close this fiscal year with around Rs 100 crore in revenue this fiscal year, which could increase by 4x to 5x next fiscal year as it expands its product line in the country. Mehta noted that the company is also in talks with contract manufacturers in India for local manufacture.

Speaking about the new line of audio products, Mehta said that with this launch, music enthusiasts and audiophiles across India are going to experience something truly special.

“The series will provide an amazing experience with enhanced sound and luxurious quality. In addition, with the range, we plan to significantly increase our market share. The Indian market has always been very special for AIWA and with these devices we hope to see AIWA as the “brand of choice” soon.

The new line will be available at Reliance digital stores, Amazon and major retail partners across India.

The company, which recently launched a line of audio products including wireless headphones and neck straps, said the audio category is expected to hit Rs 200 crore over the next two years, Mehta said.

He added that the company has earmarked around $ 10 million to invest in marketing and advertising for the next two years.

Source link

Leave A Reply

Your email address will not be published.