Canon India plans to open 50 more store in 2013

Canon India today announced its confidence in bullish retail expansion plans for India by opening its iconic 100th Canon Image Square on MG road, Bangalore. The brand has developed robust plans including aggressive marketing strategy, new product launches, attractive pricing and retail expansion, with an aim to achieve an overall target of 25% market share in digital compacts and 45% in D-SLR's during April- June 2013. All this will help the company to reach revenues of Rs 2125 crore by end of 2013 from 1,850 crore in 2012 which is 15% growth. 

Speaking on the launch Dr. Alok Bharadwaj, Executive Vice President, Canon India said, "This exclusive CIS launch is a part of our constant efforts to provide our customers with an interactive and informative buying experience. Canon Image Square revenues are expected to be Rs.172 crore in 2013, which is a growth of 25% over 2012”. 

The brand is focusing more on small formats considering the marketing challenges in India. The store layout has been designed keeping in mind, customer flow and also visual experience. Spread over an area of 500 sq ft, the store features a wide range of products. Elaborating on CIS experience, he explained” We are now present in 50 towns with 100 stores. Investing heavily in retail expansion, Canon plans to open 50 more Canon Image Square Stores spread across 70 towns”. The brand targets to take the count to 300 stores by end of 2014.

Various mediums are used for steady branding as they are also repositioning the brand for the age group between 20-35 years. OOH mediums play an important role in the last mile activities but the focus is more given to enhance the in- store experience based on excitement, engagement, education and experimental driven purchase. The new CIS store in Bangalore is a partnership venture with G. K. Vale, the leading camera dealers in Bangalore. Canon's 100th store in Bangalore is built on the promise of providing international standard experience to the customers.