The 1997 established Canon India Company which’s a 100 per cent subsidiary of Canon Singapore Pte. Ltd., global leader in imaging technologies, is targeting to double its sales in 2008 by opening more exclusive showrooms. Officials from Canon India recently declared that the company would concentrate on enhancing its retail business in the country by launching new products and popularizing its brand in the Indian market.

This expansion plan, it was revealed, would be instrumental in doubling the Canon India’s revenues to Rs 800 crore the coming year. To achieve its target the company will invest about Rs100 crore on marketing, which will comprise promotional campaigns at both regional as well as national levels. Moreover, its brand ambassador, Indian cricketing idol, Sachin Tendulakar would be roped in to inaugurate Canon stores across the country for the very first time.   

 

As per industry insiders, the plan of Canon India is to open six exclusive showrooms for end-consumers by June 2008 and another three outlets for business equipment. This figure will further increase to 20 in the following two years in make the brand grow. The real sale, however, will not take place at the new Canon showrooms. For this, Canon India has collaborated with 13 organized retailers like Reliance, Croma, Big Bazaar, Jumbo, Metro, Home Solutions, Staples, etc.

 

At present, Canon India has 1,200 points of sale for its digital cameras and 2,500 for printers. The company has announced the launch of 35 more new products today in sections like digicams, camcorders, printers, scanners, SLR cameras, projectors, and so on. In 2008, the company will launch 80 new products. Cannon is enjoying 27.8 per cent share of the Rs 1,000-crore digital camera market, which is growing at 50 per cent. Its share in the Rs 1,000-crore printer market, which is growing at a rate of 20 per cent, is around 15 per cent.