Canon eyes Rs.150 crore revenue from brand stores

September 19th, 2012 - 6:17 pm ICT by IANS  

Kolkata, Sep 19 (IANS) Leading camera-maker Canon is planning to have 100 exclusive brand stores in India by the year-end and is eyeing a revenue of Rs.150 crore from them, an official of the company said Wednesday.

The Japanese digital imaging major currently has 76 brand stores in 45 cities across the country.

“Brand store is the new concept that we had started about a year-and-half ago. The plan is to have 100 stores by December this year,” Canon India senior vice-president Alok Bharadwaj told reporters after unveiling two super-telephoto PowerShot cameras here.

The company had garnered a revenue of Rs.50 crore from the brand store category last year and the new category is presently contributing about 40 percent of its total revenue from India.

This year the camera major was eyeing Rs.150 crore from the exclusive stores.

“We are looking at launching 200 brand stores by the end of 2013 and 300 by December 2014. In 2015, we are looking at Rs.1,000 crore revenue coming from only the exclusive stores,” Bharadwaj said.

He said average selling price of cameras was about 40 percent higher in the brand stores as consumers were getting a very different digital image experience there.

Canon, which launched 25 new cameras in 2012, has announced price drops in 16 models, including 13 digital cameras and 3 digital SLR, for the festive season. The price drop ranges from Rs.500 to Rs.11,000.

The firm was eyeing a total revenue of Rs.2,100 crore at the end of the current year, Bharadwaj informed.

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