Electrical products maker Havells today said it will launch the Sylvania brand, which it had acquired in 2007, in the African market next year.
The company has also relocated its global headquarter from Frankfurt to London as it looks to enhance business in Europe.
"This fiscal, we will expand into the Eastern Europe, Middle East and African markets. In Africa, we will launch the Sylvania brand for the first time," Havells India Joint Managing Director Anil Gupta told PTI.
He said the company's plans to expand in these markets is part of a strategy to achieve a 25 per cent annual sales growth. Last fiscal, the company's turnover stood at $1.2 billion.
Currently, 70 per cent of sales of Sylvania comes from Europe while the rest comes from Latin America.
"Sylvania contributes about 50 per cent of our overall turnover," he added.
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On shifting its global headquarters, Gupta said, "We have been restructuring our cost and business of Sylvania. London is the financial capital and has international appeal as we look for growth opportunity in the Europe."
The company had announced it will be bring Sylvania brand in India after 17 years during the festive season this year. It expects to make it a Rs 500-crore brand in the next five years.
Havells had acquired Sylvania for $300 million through its Dutch subsidiary Havell's Netherlands BV in 2007.
Sylvania was earlier present in India through a joint venture Laxman Sylvania but lost its way during the 1990's.