Swedish LCD maker Lava to foray into Indian market

NEW DELHI: With the market size of LCD televisions in India doubling each year, Sweden-based luxury electronic goods maker Lava Electronics is planning to ender the market in the third quarter of next year.

"The Indian LCD television market is growing tremendously. Looking at that, we are looking at an Indian entry in the third quarter (July-October) of 2009 and we are on the lookout for an Indian partner for the entry," Lava Electronics Managing Director Christian Svantesson said on the sidelines of the Franchise India 2008.

The products would be priced about 40-50 per cent higher than those available at present, he added.

The company plans to set up 30-40 exclusive stores in the first two years of operation in the country. "The Indian partner will help us set up about 30-40 exclusive stores in the metros in the first two years. Across the world we have the same model and we are not available in multi-brand stores," Svantesson said.

The 60 million euro firm has presence in Europe, Hong Kong, Australia and has entered the US recently.

Asked if Lava would set up an assembly line in the country, he said if the company got a good response it might consider the option. "A sales of 5,000-10,000 units in the first year should be a modest target. And if we are able to achieve this we might just look at that. But, the unit will not be there in the first year itself," he said.

The company has assembly lines in Sweden, Germany, Korea and will set up another unit in US.

The company, is also looking at partnering hotels in India.

"We are already working with Hyatt in the Middle East, Radisson and Choice. So, we are looking at the hospitality sector in India as well," he said.