Bottleneck for LG at Vijay Sales
The two are experiencing differences and conflicts due to margins.December 17, 2012 | comments ( 0 ) |
LG India and Vijay Sales have chosen separate paths from here on as they snap retail ties. The two are experiencing differences and conflicts due to margins. According to Nilesh Gupta, MD, Vijay Sales, “This is the first time that we have had differences with LG, and their products have not been at our stores for more than six months. LG televisions come third in terms of sales after Sony and Samsung. But we are in the process of resolving this conflict”.
But with margins going thin for consumer durables the two will need to sit and sort out the difference and terms of tie up.
As for LG, it does not fear any drop in its market share as it has the support of 1,000-odd exclusive franchise stores under its name, apart from several other multi-brand outlets in tier-2 and -3 cities.
- Trek Bicycles plans to expand retail stores across India
- Vision Express starts its 16th store in New Delhi
- BlueStone launches its first store in Mumbai
- Splash Fashions to expand its digital presence
- Toonz Retail opens store in Dwarka
- Mufti expands into footwear category
- Fashion e-tailer Craftsvilla plans to open 1,000 outlets in 2019
- Taneira to launch 50 stores in 5 years
- Saakshi launches new store in Forum Esplanade Mall
- RP Sanjiv Goenka Group targets Rs 1,000 cr annualised revenue from FMCG