Soon after the collaboration with eCommerce gaint Flipkart, consumer electronics maker BPL is eyeing at a sales turnover of around Rs. 50 crore from its online segment by the end of the financial year. Also the firm expects to double this number by the next year.
BPL has recently signed an agreement with Flipkart to sell its consumer durables and appliances. Initially it was selling LED panels, washing machine, and refrigerators with a new brand positioning “Experience IT”.
"During the current financial year, we expect to achieve a turnover of about Rs 50 crore from Flipkart association and hopes to double the turnover in the coming year," BPL Chairman and Managing Director Ajit G Nambiar said.
"The product range would gradually expand to include other home appliances products like air conditioners, microwave ovens and LED/solar lamps," Nambiar added.
"Company's recent e-commerce initiatives and exclusive tie up with Flipkart for introduction of various consumer durables and home appliances products coupled with other home automation solutions backed by the brand's presence will help the company grow and ease pressure on company's finances," Nambiar added.
BPL’s total income dipped down to as low as Rs. 30 crore in FY 2014-15 as against Rs. 59.69 crore in the previous fiscal. Currently the company has presence in CDIT products, medical technology, home automation and lighting solutions. BPL sees a huge potential in its Home automation and eCommerce initiatives that might further rev up the business.