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| Philips sets sight on new sectors |
| BS Reporter / Kolkata Jun 11, 2011, 00:52 IST |
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Philips India has indicated that the firm is likely to go beyond the existing frontiers in consumer lifestyle segment and might diversify its business looking for new opportunities.
“We are ready to go beyond our existing frontiers and looking into diversification opportunities every time. As part of its expansion strategy, the company will soon launch a coffee maker brand in India, which we had acquired from Italian espresso machine maker Saeco International Group. Our plans include launching of mass products to expand our market pyramid,” said Anjan Bose, Business Head of Consumer Lifestyle. According to reports, Philips had acquired Saeco in 2009 for about euro 200 million.
However, the company said that 34 per cent of its overall sales globally is coming from emerging markets. “In 2011, Philips would like to increase it to 40 per cent in emerging markets like India, China and some countries in Eastern Europe,” said Rajeev Chopra, Vice Chairman and Managing Director, Philips Electronics India. Philips — which has presence in healthcare, televisions, lighting and consumer appliances sector — employs about 119,000 people and has presence in more than 60 countries.
The company had acquired Indian kitchen appliance maker Preethi in January. “Till now, we have not charted out any plan regarding Preethi. We are exploring possibilities to introduce the brand in North India also. The acquisition has actually added muscle to our consumer lifestyle segment,” Bose said.
On the other hand, as part of its aggressive marketing, the company has roped in Bollywood actor John Abraham as it brand ambassador fro mens personal care products. In 2010, the firm’s lighting, healthcare and consumer lifestyle businesses grew 24 per cent, 43 per cent and 13 per cent simultaneously. Last year, Videocon Industries had signed a five-year agreement with Philips Electronics to make and sell the century-old Philips brand televisions in India.
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