NEW DELHI: Japanese consumer electronics brand AIWA, which re-entered the Indian market early this year, is eyeing partnership with 5,000 retail stores across the country by the end of this calendar year. It has currently partnered with Amazon for its online and Reliance Digital for offline sales.
Ajay Mehta, MD, AIWA, which launched its ‘Hi-Fi speaker range’ on Tuesday, told The New Indian Express that it is targeting Rs 100-crore revenue in the current financial year.
“In the next financial year, we target Rs 400-500 crore as we may be adding a vertical or two to the portfolio.”
The consumer base for this brand is a slightly evolved customer, he said talking about the target market, adding cost of all the product offerings from the company range from middle-high to high. For the India business, the company has a budget of $10 million to be invested over the next two years, Mehta informed TNIE.
Its new range of Luxury Acoustics speakers -- MI –X series and the SB-X series -- is part of the second launch announcement by the brand after re-entering India early this year. MI –X450 PRO ENIGMA and MI –X 150 Retro Plus X, are priced at Rs 59,990 and Rs 24,990 respectively.
On the other hand, SB-X350A, SB-X350J and SB-X30 from SB-X350 series are priced at Rs 19,990, Rs 17,990 and Rs 2,799 respectively.