NEW DELHI: Japanese consumer electronics major Sansui is making a fresh attempt to crack the Indian consumer durable market with a new set of products.
In partnership with the owners of Karbonn Mobiles, Jaina Group, Sansui has entered India in categories such as LED televisions, home audio, refrigerator, washing machine, split air-conditioner and small kitchen appliances.
It also aims to nearly double its turnover to Rs 3,500 crore by 2022, from Rs. 1,627 crore in 2016 when the brand was at its peak, given its brand already has a goodly presence in the market and its exit from India was only for three months.
Sansui brand was licensed to Videocon earlier. However, it had closed its operations in India after its year-long licensing agreement with embattled Videocon Group fell through.
“With digitalisation seeing strong growth and the government investing heavily in rural electrification, the demand for large appliances will grow rapidly. Sansui, with its aggressive pricing model, is confident of growing its market share in India to 15 per cent by FY22,” said Abhishek Garg, executive director Jaina Group and brand head, Sansui India.
The company also plans to invest Rs. 1,000 crore over the next three years and will set up a new manufacturing plant in Gurugram by June 2020.
“The new facility will serve as a key manufacturing hub for Sansui in South-east Asian markets,” Garg added. The move is also in line with the government’s mega booster dose of corporate tax rate cut to 15 per cent (effective rate 17.01 per cent) for new manufacturing firms.
Pradeep Jain, managing director, Jaina Group, also said that it is in talks with Taiwan’s premium smartphone brand HTC and is gearing up to re-introduce Japanese electronics brand Nakamichi.
“Nakamichi will be more high-end in its approach, focusing on premium appliances and electronics products. Their products are likely to hit the stores in December this year,” he added. In the past, Jaina Group has worked with global brands in the country including HTC, Motorola, Samsung, Siemens, Philips and Panasonic.