New Delhi : New Delhi: Panasonic Life Solutions India, a wholly owned subsidiary of Panasonic Corporation plans to open 130 stores across tier I and tier II markets in India by the end of financial year 21-22, in order to cater to the growing needs of electrical and construction material (ECM), said Vivek Sharma, MD, Panasonic Life Solutions India.
The company has launched its first store in Hyderabad. Panasonic Life Solutions India is an electrical construction materials manufacturer and its products are available across the country under the brand ‘Anchor by Panasonic.’ The exclusive brand store, spread across an area of 6000 sq.ft. will offer its customers home automation, smart and energy saver products from both the brands Anchor and Panasonic, the company said.
With the launch of this exclusive store, the brand also aims to display its range of advanced indoor air quality (IAQ) solutions which are next-gen technology products. These include energy recovery ventilator (ERV), bidet-panasonic electronic automatic toilet seats, and bathroom dryers.
At present, the company has 7 manufacturing units running across 4 locations in the country. By FY2022, Panasonic life solutions India aims to open 130 such experiential stores and become a billion-dollar company.
In addition to the residential segment, with this new store, the company aims to target the commercial and industrial segment of the market as well. "These stores will serve as experience centres for consumers and influencers, a place where we can showcase the depth and width of our range and display products which are a part of Panasonic’s global innovation on smart and connected homes. Not only does the store targets individual customers, but would also provide a platform for the makers for the new India, the builders, contractors and architects fraternity, to experience the next-generation solutions, which they can, in turn, incorporate in their upcoming projects," Sharma adds.
100 stores of the brand would be set up in a franchise owned and franchise operated (FOFO) model. "We are happy to have Panasonic Life Solutions launch its first exclusive store in Hyderabad. The showroom is designed to create an impression of the actual touch and feel of the zone which will further ease the buying and selection process of the consumers,” said Rajan Gangal, Franchisee owner.
Reference: ET Retail