Chinese lighting solutions major Opple Lighting has set up its first ‘experience store’ in the country in Chennai.
The global brand, which has a presence in 50 countries, will tap the LED (light emitting diode) transformation in India, said S Venkataramani, Chairman, Opple Lighting India, a wholly-owned subsidiary. According to him, the lighting industry in the country stands at ₹12,000 crore, growing at 17-18 per cent year-on-year. Within this, the LED lighting segment is clocking over 40 per cent growth, he said, quoting Electric Lamp and Component Manufacturers Association of India.
India, just being at the cusp of a transition from CFL (compact fluorescence lamp) to LED lighting, provides a perfect base for brands such as Opple to capitalise on the opportunity. He said, “We believe India is potentially an $500 million LED market by 2017 and we are poised to harness this opportunity.”
The company will invest ₹60 crore in the next three years to set up 30 such large format exclusive brand outlets across the top 30 cities. “We are targeting a turnover of ₹450 crore from our operations here in the next three years,” he said. The Opple products, according to Venkataramani, would be cheaper by at least 10-15 per cent compared with the market leaders here. However, they will come with the promise of international quality, he said.
Besides showcasing its products, the 2000-sq ft experience store in Chennai features a special consulting service for lighting design solutions, wherein Opple experts will help consumers understand and implement the best lighting solutions for their space.