Nikon India Private Limited, a 100 per cent subsidiary of Japan-based Nikon Corporation, plans to invest Rs 62 crore in brand building and promotional activities in the country in 2010.
A part of this investment will be on rolling out exclusive Nikon Coolpix zones across the country to ensure greater visibility for the Nikon brand and also to offer a better retail buying experience to the customers.
Hiroshi Takashina, divisional general manager (imaging division), said, “Nikon will invest Rs 62 crore this year in the India market on brand building, which will be a very significant investment by industry standards. The company at present has 40 exclusive zones in the country and we would take the figure to 80 by the end of 2010.”
The company recently launched its first exclusive Nikon Coolpix zone store in the city.
Nikon, which kicked off its India operations in May 2007, has 13 per cent share in the compact camera market and a 45 per cent share in the D-SLR (Digital Single Lens Reflex) segment where it is the market leader.
By the end of 2010, the company has targeted to take its share in the compact camera segment to 15 per cent and in the D-SLR segment to around 5 per cent.
More From This Section
The market size of compact cameras in the country in volume terms is estimated at 1.5 million units and it is set to cross the two-million mark by the end of 2010. The D-SLR camera market is relatively small, with only 20,000 units sold every year and is expected to reach 30,000 units by the year-end.
Commenting on the response from the Orissa market, Takashina said, “Orissa is a growing market for Nikon and we are expecting this market to contribute three per cent of our overall sales by the end of 2010. We hope that our exclusive Coolpix zone in the city will enhance customer engagement and buying experience as well as augment access and availability.”
Nikon will also introduce new models in India both at the entry level and premium segment, he said without divulging details.
The company which has 18 services centres throughout the country, plans to roll out one such centre in the city this year. Nikon has also appointed a distributor in each of the states of the country.