Japanese consumer electronics brand Akai on Wednesday made its re-entry into the Indian market with the launch of a range of products including hi-definition TVs, washing machines, microwave ovens and home theatre systems, priced between Rs.2,490 and Rs.55,000.
“We are re-introducing the latest products from Akai, a brand which is already well-known in India. We have brought innovative products across various categories and plan to introduce new segments like air-conditioners and refrigerators soon. We also plan to enter new segments like mobile handsets, captive power systems and IT peripherals,” Akai India Managing Director Pranay Dhabhai told journalists here.
“We have already established our network, both marketing and sales and after-sales, across India. We will be present in retail stores as well as in modern retail format showrooms. We hope to do a turnover of Rs.435 crore in the current financial year, and as we go forward, we will further push over sales,” he said. Akai's annual sales last year stood at Rs.275 crore, primarily from the TV business. IT has re-entered India through Global Brands Enterprise Solutions (GBES), set up by Mr. Dhabhai , after its brand licensing agreement with Videocon ended in September last. Apart from selling Akai products in India, GBES will operate in Sri Lanka, Bangladesh and Nepal.
“Through GBES we are looking at bringing more global brands in the electronics segment in India and neighbouring markets. We will be leveraging our backend network, including logistics and after-sales, for these brands, while dedicated marketing teams will take care of individual products. We have already set up a pan-India service network under brand name ‘Quixerve' that will not only serve brands being marketed by us but also give after-sales service to other companies,” Mr. Dhabhai said.
Future plans
On future plans, he said the company would introduce microwaves and modular kitchens of Chinese electronics major Haier in India.
“Our aim is to make ourselves a multi-brand company offering a range of products. We are in talks with some consumer electronic firms for bringing into India and also give them after-sales services,” Mr. Dhabhai added.
