Panasonic India targets Rs 1,200 cr sales in festive season

Panasonic India targets Rs 1,200 cr sales in festive season New Delhi: Consumer durables maker Panasonic India on Monday said it expects sales of Rs 1,200 crore during the upcoming festive season and is doling out freebies and gifts to woo customers.

"Panasonic is committed to the Indian market and that buying new products during this time is considered auspicious. Thus we are announcing a variety of consumer schemes and offers on purchase of a wide range of products," Panasonic India President Daizo Ito told reporters here.

The various offers and gifts on each purchase would be valid from September 21 to November 18, he added.

"We have announced various offers to our consumers to enjoy the festive season with Panasonic products in a pocket friendly manner. Through these offers, we are targeting a turnover of Rs 1,200 crore nationally this festive season," Panasonic India Managing Director (Global Consumer Marketing Sector) Manish Sharma said.

Panasonic India is investing Rs 100 crore on brand positioning and marketing activities during the festive season, he added.

The company is giving out gift hampers such as branded dinner ware, glass ware and other items with purchase of Panasonic refrigerators, microwaves and washing machines.

The other freebies also include a gift voucher of Rs 10,000 on purchase of a Viera 3D TV set for free downloading of 2,000 Bollywood songs and three months live streaming.

The company is targeting an over two-fold jump in revenue to Rs 12,500 crore from its consumer durables business in India by 2015 as part of an overall plan to become a Rs 25,000 crore business entity in the country.

In the last fiscal, the consumer durables division had a revenue of Rs 3,200 crore. This fiscal it is targeting Rs 5,500 crore.

The company is also investing around USD 300 million on advertising, marketing and other promotional activities by March 2015.

At present, the company has 6,000 retail outlets across India and 1,300 after sales service centres.