Opple Lighting expands base in south and West IndiaOutlines investment of INR 600 million in next three years to set up operations, distribution and retail infrastructure, including exclusive brand stores in top 30 cities
OPPLE Lighting, a global integrated lighting solutions company, has expanded its operations in western India after strengthening presence in Southern India. The company opened 1 exclusive store in West Mumbai and 02 exclusive stores in Hyderabad in Bank Street and Balanagar with a suite of over 200 LED products. OPPLE, globally present across 50 countries, launched its first experience store In Chennai in 2014.
Talking about the expansion plans, S. Venkataramani, Chairman, Opple Lighting India said, “We have been focused on building a strong footprint in South India as it has the strongest consumption of lighting products in the country. Together, southern and western regions constitute over 60% of the lighting market in India and have a comparatively higher rate of LED adoption. So it made business sense to start building the business with these two markets. We are targeting a distribution network in all regions with 5000 points of sale, by end of this year. We believe India is potentially an USD 500mn LED market by 2017 and we are poised to harness this opportunity.”
Detailing the developments, Mr. Naveen Saxena, Country head, Opple Lighting India said, “Along with the exclusive stores, we are now available in leading electrical outlets in Mumbai, Hyderabad and Chennai and will soon be seen in Rest of Tamilnadu, Bangalore and Pune We will be establish about 500 points of sale across the these states by end of this year. We are looking at creating a retail footprint across the 15-20 key South & West Indian cities over the next 3 years.”
“With an initial investment of INR 600 million, OPPLE will roll out 30 large format exclusive brand stores across the top 30 cities in India in next 3 years. Targeting a cumulative turnover of INR 450 crores from the country in the next 5 years, we expect a revenue share of 35% from southern India and 27% from the western region”, he added.
The lighting industry currently stands at 15000cr in India, growing at a pace of 8-10%. The noticeable segment growing at a rapid pace within this is LED lighting, clocking in growth at over 50%. The government impetus on mass usage of LED is catalyzing the segment growth and transition from CFL to LED in India.
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