Olympus eyes $20 mn top-line from India

NEW DELHI: Digital imaging company Olympus on Monday said it plans to invest Rs 50 crore in India to set up six exclusive showrooms in major metropolitan cities, as it targets to double revenues from the country to $20 million this fiscal.

"We closed the last fiscal in India with a top-line of $10 million and with the double digit growth in the market coupled with new launches, we anticipate our revenues to double to $20 million in the current fiscal," Olympus General Manager (Asia-Middle East Business group) Yoshitomo Nagashima told reporters here.

He said Olympus would sell its entire portfolio of products, including digital cameras, voice recorders and binoculars in India through its exclusive showrooms.

"The company would invest Rs 50 crore in opening six showrooms in the country. These showrooms would be owned by the company but would be managed by its authorised distributors," he said.

Olympus exclusive showrooms would come up in cities including Delhi, Mumbai, Kolkata, Chennai, Bangalore and Hyderabad. The company today launched its range of water- proof, shock-proof digital cameras priced between Rs 15,995 to Rs 41,995.

Olympus' products are present in over 2,000 multi-brand outlets which the company plans to increase to 3,500 in the next six months.

The company operates in India through a subsidiary, Olympus India Pvt India, and has tied up with three distributors to market the products.