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| Nikon India to invest Rs 120 crore in brand building in FY11-12 |
| Tushar Pawar / Mumbai/ Nashik Feb 28, 2011, 00:19 IST |
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Eyes Rs 900 crore turn over
Nikon India, the 100 per cent subsidiary of Nikon Corporation, is planning to invest Rs 120 crore in brand building and promotional activities in the next FY 2011-12. The company is expecting 125 per cent growth in the current FY 2010-11 and eyeing Rs 900 crore turn over in the next FY 2011-12.
The company distributes markets and services the complete range of Nikon imaging products, including Nikon D-SLR (Digital Single Lens Reflex) as well as compact cameras, the Nikon Coolpix and a range of Nikon lenses, and service and repair of products.
“With an aim to strengthen our brand products, we have already invested Rs 62 crores in the current FY 2010-11 in brand building and promotional activities. We are again planning fresh investment of Rs 120 crores for our brand promotion activities in the next FY 2011-12,”
Hiroshi Takashina, Managing Director, Nikon India Pvt Ltd., who was here in Nashik for the opening of its new branded store ‘Coolpix Zone’, told Business Standard.
“We are growing at 100 per cent growth rate in Indian market due to good response from consumers to our products. We achieved a sales turn over of Rs 200 crores in FY 2009-10. Our sales turn over is expected to increase by 125 per cent to Rs 450 crores in the current FY 2010-11. We are eyeing to double our sales turn over to Rs 900 crores in the next FY 2011-12,” Takashina said.
“Nikon, which kicked off its India operations in May 2007, has 20 per cent share in the compact camera market and a 60 per cent share in the D-SLR (Digital Single Lens Reflex) segment where it is the market leader.
By the end of 2011-12, the company has targeted to take its share in the compact camera segment to 25 per cent and maintain 60 per cent share in the D-SLR segment,” he said.
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