The brand has developed robust plans including aggressive marketing strategy, new product launches, attractive pricing and retail expansion, with an aim to achieve an overall target of 25% market share in digital compacts and 45% in D-SLR during April – June 2013. All this will help the company to reach revenues of INR 2125 crore by the end of 2013 from Rs 1,850 crore in 2012 which is 15% growth.
Speaking on the launch Dr. Alok Bharadwaj, Executive Vice President, Canon India said, “This exclusive CIS launch is a part of our constant efforts to provide our customers with an interactive and informative buying experience. Looking at the tremendous midterm opportunities in the next 3 years in India, we are expanding our retail footprint. Photography industry in India is reconfiguring itself by manifesting in the form of growing interest in higher functionality in compacts and digital SLR. Canon has always believed in promoting photography as a creative indulgence that needs a uniquely differentiated experience. Canon Image Square revenues are expected to be Rs. 172 crore in 2013 which is a growth of 25 % over 2012. The biggest payoff is a 34% higher average selling price for compacts and 21% higher in Digital SLR.”
Enabling enhanced excitement, engagement, education and experiential purchase which we call as 4E’s essence, the 100th CIS store in Bangalore is built on the promise of providing international standard experience to the customers. It is strategically located at the corner of Brigade Road and MG Road - the high-end retail street and includes a wide product range of point and shoot cameras, D-SLRs, camcorders and lenses.
Elaborating on CIS experiences, he explained “We are now present in 50 towns with 100 stores. Investing heavily in retail expansion, Canon plans to open 50 more Canon Image Square stores in 2013 to touch 150 stores spread in 70 towns. It announced plans to take stores tally in Karnataka from 10 to 16 by December 2013 covering the cities of Hubli, Belgaum, Bellary and Udipi. Currently, Canon has stores in Bangalore, Mysore and Mangalore.” Dr. Bharadwaj added.
“Markets like Bangalore are extremely critical for Canon’s growth in India. We see a lot of adventure travel and holidaying culture amongst the people of this city and hence, our key focus areas here are SLR Cameras, Lenses and high end optical.” He further added.
The store layout has been designed keeping in mind customer flow and also for a visual experience. Spread over an area of 500 Sq feet, the store features a wide range of products including digicams, SLRs, Inkjet and laser printers and consumables.
About Canon Inc.
Canon Inc. (NYSE: CAJ), headquartered in Tokyo, Japan, is a leader in the fields of professional and consumer imaging equipment and information systems. Canon’s extensive range of products includes copying machines, inkjet and laser printers, cameras, video equipment, medical equipment and semiconductor-manufacturing equipment. Originally established in 1937 as Precision Optical Industry, Co., Ltd., a camera manufacturer, Canon has successfully diversified and globalized to become a worldwide industry leader in professional and consumer imaging systems and solutions. With over 200,000 employees worldwide, Canon has manufacturing and marketing subsidiaries in Japan, the Americas, Europe, Asia and Oceania; and a global R&D network with companies based in the United States, Europe, Asia and Australia. Canon’s consolidated net sales for fiscal 2011 (ended December 31, 2011) totalled $45.6 billion (at an exchange rate of 78=US$1). Visit the Canon Inc. website at: www.canon.com
Canon in India
Canon India achieved a growth of Rs. 1850 crore in 2012 which is 21% growth over last year. Canon focuses on multiple market segments of consumer, SME, B2B, Government & Commercial. Canon’s product portfolio extends over a vast variety such as copier MFDs, fax-machines, printers, scanners, All-in-ones, digital cameras, DSLR, Cinematic imaging products, camcorders, cable ID printers and card printers.
Canon India Pvt. Ltd. is a 100% subsidiary of Canon Singapore Pvt. Ltd., a world leader in imaging technologies. Set up in 1997, Canon India markets over 140 comprehensive range of sophisticated contemporary digital imaging. The company today has offices in 10 cities, warehouses in 13 cities across India and employs over 1100 people. Canon has approximately 400 primary channel partners, 14 National Retail Chain partners, and over 6000 secondary retail points. Canon has over 93 own retail stores called the Canon Image Square across 48 cities in the country. Canon’s service reach extends to over 2800 towns with over 200 service engineers, 7 Canon owned service centers and 37 Canon Care Centers.
