LG India sets Rs 19 cr-sales target

Electronic home appliances giant, LG Electronics India, is reported to invest $300 million in the next three years
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Electronic home appliances giant, LG Electronics India, is reported to
invest $300 million in the next three years and expand its product
portfolio to surge its turnover from Indian operations to $9 billion
(Rs 45,000 cr) by 2015.

The company is planning to add 250 more products across categories in
India by the end of the year. The company will foray into new
categories like water purifier, air purifier and built-in-system
kitchen while aggressively pursuing the existing categories. The
company is planning to set up a chain of exclusive premium stores. It
will launch 100 AC solution plazas and mobile galleries as well as 100
mobile stores, this year. LG India is likely to close this year with a
turnover of Rs 19,000 crore. LG India currently contributes around 6
per cent to LG's global business. It will increase to 12 per cent by
2015.

Expecting consumer durable to grow by 20 per cent every year, the
company claims to grow more than the industry; around 30 per cent in
the first half of 2010. To attain the goal, the company has embarked
on a new strategy. The proposed investment will be used for product
development and assembly operations. It is also planning to set up a
new plant in South India and the location will be finalised by the
year-end.

 
 
 
 
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