Panasonic to invest Rs 600 cr on marketing this fiscal

Japanese electronics major Panasonic today said it will invest Rs 600 crore on marketing this year to promote its products in India, including a newly launched beauty and healthcare range.

"We will invest Rs 600 crore this fiscal on various brand building and marketing initiatives that will include advertising and below-the-line activities," Panasonic India Marketing Director Manish Sharma told PTI.

The company today launched an enhanced range of beauty and healthcare products as a part of its strategy to cater to young consumers.

"In the past Panasonic has been positioned as a family brand. With the launch of a new beauty and healthcare range, our intent is to change the image of Panasonic as a youth brand," Sharma said.

To promote the new portfolio, the company has roped in five popular faces of the glamour world -- Jacqeline Fernandes (Bollywood actress), Kajal Aggarwal (South Indian actress), Koyel Mallick (Bengali film actress), Atul Kasbekar (photographer) and Javed Habib (hair stylist).

In terms of sales, the company is targeting to close the 2011-12 fiscal with a turnover of Rs 5,500 crore and expects the new range -- which includes hair epilators, nail polishers, eyebrow shapers, shavers and hand massagers -- to contribute at least 3%.

"The beauty and healthcare range currently makes less than 1% of the company's sales. We also expect our camera business to contribute around 10% to total sales this fiscal, up from three% at present," Sharma said.

In 2010-11, Panasonic India's sales stood at Rs 3,200 crore.

Asked about the company's marketing plans for Season IV of the IPL, Sharma said the company is a sponsor of the Delhi Daredevils and it will engage in a host of on-ground activation programmes to promote the team.

He, however, did not comment on the marketing spends earmarked for the IPL, though he divulged that the company spent Rs 30 crore during the tournament last year.