After its re-entry into India this year, Japanese electronics firm Akai today said it is aiming for a turnover of Rs 435 crore (Rs 4.35 billion) this fiscal.
The company is also considering foraying into IT, telecom and power segments soon. "Akai's annual sales (before its exit from India) was around Rs 275 crore (Rs 2.75 billion).
"This year, we target to do a turnover of Rs 435 crore (Rs 4.35 billion). In the last six months, we have been working on developing our distribution channels and after-sales service," Akai India managing director Pranay Dhabhai said.
Akai re-entered India in January this year through Global Brands Enterprise Solutions after it ended its brand licensing agreement with homegrown consumer durable major Videocon in September last year.
Global Brands Enterprise Solutions, which is currently the exclusive licensee for Akai brand in India, Sri Lanka, Bangladesh and Nepal, is also looking at bringing more global brands in the electronics segment, said the company.
Besides, the company said it would invest around Rs 25 crore (Rs 250 million) on promotional activities and advertising campaigns this fiscal.
The company, which launched a range of LED and LCD television today, said it was also planning to introduce refrigerators by this year.
Besides, it is also deliberating on expanding the Akai brand by foraying into the telecom, IT and batteries segment soon.
"We want to get into new verticals like IT, power (device) and telecom. It could be laptops, netbooks and batteries. It is at planning stage," he said.
Asked about the time frame, Dhabhai said one of the verticals could be introduced this year without giving further details.
At present, Akai's product portfolio includes television, washing machines, microwave ovens, DVD and home theatres.
The products are available in around 5000 outlets across the country.
Akai is planning to take the number of service centers from 200 to 250 centres by the end of this month.
Besides, Global Brands Enterprise Solutions, the company said it was looking at bringing in more global brands in the consumer electronics segment.
It is currently working on outsourcing the after-sales service to another company. Apart from Akai, the firms also sell Haier's microwaves and modular kitchens in India.
"Our aim is to make ourselves a multi-brand company.
"We are in talks with some consumer electronic firms for bringing into India. Besides, we are in discussion with some firms for after-sales services of these brands," Dhabhai, who also founded Global Brands Enterprise Solutions, said.
He, however, declined to name the companies and the timeframe for introducing the brands in India.
