Seiko on retail expansion drive in India
Japanese watchmaker Seiko announces a retail expansion drive in India with plans to open more exclusive outlets and increase presence in multi-brand stores in the next one year. The company, which is present in India through its subsidiary Seiko Watch India, had recently opened its first exclusive boutique in Chennai. It now plans to add nine such stores in the next 2-3 years across the country as well as increase its point of sale to 215 outlets by next year. New Seikjo outlets across India would bring in a new business opportunity to the country’s signage domain, particularly for those dealing with in-store signage.
Leading retailer and fashion apparel-maker Provogue India plans to foray into the fashion watch segment by next month and is eyeing around Rs 20-25-crore revenue from this business over the next 18 months. This company forayed into the retail business with casual and semi-casuals targeting the youth, especially men, has tied-up with global watch-maker Fossil for manufacturing the products. Currently, there are 120 Provogue stores and the company plans to add about 75 more in the current fiscal. The new expansion plan of the company with addition of new stores would bring a sunshine opportunity to signage companies, particularly the ones engaging in in-store POPs and other displays.
Bangalore-based Arvind Lifestyle Brands announces to introduce Italian premium fashion brand, Energie, in India soon, as part of portfolio expansion. The company, which has a host of international and homegrown brands, including Flying Machine, US Polo and Arrow, is also working on revamping and expanding existing labels in the country. And they will very soon bring in Italy's super premium jeanswear brand -Energie- here. The company will open both shop-in-shop and stand-alone stores. Signage companies dealing in the retail segment will find a new vigour in business with the arrival of Energie in India.
Canon announces its plan for a massive retail expansion in India to achieve a turnover of about Rs.4,600 crore by 2015. The imaging major also announces the launch of 22 new products, including digital cameras and printers. The company plans to take total retail presence to 6,000 outlets across the country and will increase marketing budget by 25 per cent to Rs.150 crore next year. This year, the company is seeing a sales growth of 56 per cent, while they expect the sales to touch around Rs.4,600 crore by 2015. With unfoding of new Cannon outlets, in-store sigange companies would aim to tap new business in the sector.
Tata Sons subsidiary Infiniti Retail announces its targeting of more than 65 percent growth in turnover to touch Rs 1,700 crore in the current fiscal, as it plans to enter new geographies and expand reach. The company that operates 56 'Croma' branded stores, sell a range of consumer electronics, appliances and IT products will invest about Rs 40 crore by March next year to have a total of 75 stores. It also plans to launch its own branded computers and notepads. Such robust plan of the company signals a new business opportunity in signage segment, particularly for those dealing with in-store displays.
Cotton King is planning to expand its operations in south India. The retail chain has been planning to open five stores in Hyderabad this fiscal. Cotton King has an established presence in Maharashtra with 36 stores in almost all the important cities. The company has set the target to take the total number of Cotton King Stores to 50 by March 31, 2011, which will include five stores in Hyderabad while the rest would be in Maharashtra itself. The new stores will be an added advantage/opportunity to signage companies, particularly those dealing in in-store displays, for new business opportunity.