In keeping with its strategy to expand presence in the luxury products market in the country, Panasonic Home Appliances India, a subsidiary of the Panasonic Corporation (a subsidiary of Matsushita Electric) will introduce a range of massage chairs, priced between Rs 1,49,000 and Rs 3,40,000.
Panasonic will tie up with ProLine Fitness Planet to distribute the chairs. The company would not use its distribution network as it is more focussed on kitchen and personal appliances.
As per the agreement, ProLine will buy the chairs from Panasonic and then retail them. The products would be available in few weeks.
"For this kind of product, it is better to target the customers in a setting where they would be more inclined to try out rather than when shopping for other smaller appliances," said G Gurumohan, general manager (marketing), Panasonic Home Appliances.
Institutional sales to BPO's and IT companies is another area the company look at for the product.
"We have an initial target of 100 pieces in the first year," said Gurumohan adding the company was not planning on manufacturing the products in India at present.
Panasonic already has personal products and kitchen appliances such as epilators and electric rice cookers in India.
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group