Panasonic India’s new manufacturing unit in Haryana will be completed in November this year as the company targets to nearly double its sales to Rs 10,000 crore in the calendar year 2012, as compared to the previous year’s sales of Rs 5,500 crore, a company official said on Thursday.
The Japanese MNC has set up the new plant in 70 acres at Jhajjar in Haryana at an investment of $200 million, Manish Sharma, Managing Director, Consumer Product Division, Panasonic India, told reporters here.
In particular, the company is targeting the Gujarat market which accounted for 10% of the total revenues in 2011. The company is also increasing the number of stores from 22 to 27 by March 2013 in the state, he said. In all, the company will increase the number of its stores from 210 to 240 this year across India.
Manish Sharma said the company’s 50% revenues this year are expected to come from home appliances (white goods). During the October-November festival season, 65% of its sales were from the TV segment, 35% from refrigerators and 15% from washing machines.