Gome, one of the largest privately-owned electrical appliance retailers based in Mainland China and Hong Kong, is planning for global expansion by introducing its own branded products in India.
According to Economic Times, the Chinese electronics retailer is expected to launch its trademarked appliances, smartphones, televisions which will be sold through multi-brand outlets and online marketplaces. The $11-billion company is also strategizing to fix the prices of its products to compete with rivals such as; Samsung, Xiaomi, TCL, and Oppo.
Like other Chinese giants, Gome is gearing up to invest in the Indian market to build and enhance its brand reputation. As the festive season is nearing when consumer spending will be at its peak, Gome will launch at least three smartphones in the Rs 10,000 category through both online and offline stores.
Gome is seeking one more brand ambassador for its consumer electronics business.
Gome Electronics India is a fully-owned subsidiary of Gome Telecom Equipment, which engages in the home appliance retail and mobile communication business and is part of Hong Kong-listed Gome Retail Holdings.
Gome will unveil television, refrigerator, kitchen appliances and washing machine on Flipkart, said an ET report.
Piyush Puri has been hired to spearhead the Indian operations at Gome Electronics India who earlier worked with Foxconn India’s in-house brand InFocus.
China’s Gome plans to establish manufacturing operations in India where all products will be locally produced and the taxation on which is almost half for mobile phones and TV sets.
Beijing-headquartered GOME Group has diversified development in the fields of retail services, real estate, investment business, and more with a total of 300,000 people and three listed companies under its control.
With inputs from The Economic Times