Leading electrical materials manufacturer Anchor Electricals Pvt Ltd, a subsidiary of Japanese major Panasonic Corporation since 2007, plans to set up a megastore in Bangalore by March, to be followed by Delhi, Chennai and Hyderabad, among others, a senior official said on Thursday.

The company is set to increase its marketing and advertisement budget from nearly Rs 200 crore this year to Rs 250-300 crore in 2014-15, Ashok Gangar, Vice-President (Sales) told Business Line here.

The company, however, has no immediate plans to acquire a brand ambassador and would mainly market its products through architects, consultants and others.

Anchor Electricals, which opened a big showroom in Mumbai recently, will increase the number of products available to 88 from 48. All its products are of global standards set by Panasonic but none are being exported at present, he said.

The five-decade-old company’s turnover is expected to increase from Rs 1,800 crore in 2012-13 to Rs 2,100 crore this fiscal, Gangar said.

Anchor Electricals has a 40 per cent market share in switches in India. It has seven manufacturing facilities in the country, including those at Daman and Kutch. “We also plan to set up a new factory in India,” he said without elaborating.

Its modern outlet in Mumbai is an LED lighting showroom, giving customers a ‘see, touch and feel’ experience of a diverse range of home decorative lighting concepts and functions. With an in-house simulation room, customers are able to view effects of various kinds of lighting fixtures and installation options in different settings.

The world’s third largest company in its sector, Panasonic, has, of late, renewed focus on the B2B and B2G business. Its global sales are about $3 billion, with LED lighting sales accounting for $1 billion.

 

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