Philips India set to diversifyJune 11th, 2011 - 12:14 am ICT by IANS
Kolkata, Jun 10 (IANS) Philips India is set to go beyond the existing frontiers in the consumer lifestyle segment and will diversify its business, a top company executive said Friday.
“As part of its expansion strategy, the company will soon launch a coffee-maker brand in India, which we had acquired from Italian espresso machine maker Saeco International Group,” Philips India business head of consumer lifestyle Anjan Bose told reporters here Friday.
“Our plans include launching of mass products to expand our market pyramid,” he said.
The company had acquired Indian kitchen appliance maker Preethi in January.
“Till now, we have not charted out any plan regarding Preethi. We are exploring possibilities to introduce the brand in north India also. The acquisition has actually added muscle to our consumer lifestyle segment,” Bose said.
Thirty-four percent of the company’s overall sales globally is coming from emerging markets.
Vice Chairman and Managing Director Rajeev Chopra said: “In 2011, Philips would like to increase it to 40 percent in emerging markets like India, China and some countries in Eastern Europe.”
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