LG aims five-fold increase in sales from modern retail
This year the company expects about 4 per cent of total sales of Rs 9,000 crore to come from modern retail.
By PTI |
NEW DELHI: Korean consumer electronics major LG on Tuesday said it is looking for about five-fold increase in sales from modern retail in the next two years, for which it has set up an internal organisation to oversee operations.
"Our aim is to have about 20 per cent of overall sales coming from modern retail in the next two to two-and-a-half years. We have set up an internal organisation with a central team of 8-10 people to take care of sales in modern retail," LG Electronics India Ltd (LGEIL) Director Sales and Marketing V Ramachandran told reporters here.
This year the company expects about 4 per cent of total sales of Rs 9,000 crore to come from modern retail.
"This team will take care of managing nationally pricing, marketing promotions and central contact besides others," he added.
LG has already partnered with modern retail formats like Next, Kroma and Reliance Digital.
The company today launched its 'Pearl Black' range of LCD television at a price range Rs 59,000-Rs 98,000.
"LCD is an area where we have lagged behind with only about 23 per cent market share. With the launch of the new series, we aim to capture about 30 per cent of the market," LGEIL Business Group Head Consumer Electronics Amitabh Tiwari said.
LGIEL will be spending about Rs 22 crore for the promotion of the new series, while its overall marketing budget across all categories will be Rs 350 crore.
He said by 2010, the company expects to sell a total of 30 lakh normal television sets and 5.5 lakh flat panel displays.
"Our aim is to have about 20 per cent of overall sales coming from modern retail in the next two to two-and-a-half years. We have set up an internal organisation with a central team of 8-10 people to take care of sales in modern retail," LG Electronics India Ltd (LGEIL) Director Sales and Marketing V Ramachandran told reporters here.
This year the company expects about 4 per cent of total sales of Rs 9,000 crore to come from modern retail.
"This team will take care of managing nationally pricing, marketing promotions and central contact besides others," he added.
LG has already partnered with modern retail formats like Next, Kroma and Reliance Digital.
The company today launched its 'Pearl Black' range of LCD television at a price range Rs 59,000-Rs 98,000.
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"LCD is an area where we have lagged behind with only about 23 per cent market share. With the launch of the new series, we aim to capture about 30 per cent of the market," LGEIL Business Group Head Consumer Electronics Amitabh Tiwari said.
LGIEL will be spending about Rs 22 crore for the promotion of the new series, while its overall marketing budget across all categories will be Rs 350 crore.
He said by 2010, the company expects to sell a total of 30 lakh normal television sets and 5.5 lakh flat panel displays.
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