Canon India Private Limited, a cent per cent subsidiary of Canon Singapore Private Limited, is targeting a turnover of Rs 800 crore in the current year on the back of its trifocal plan.
The company closed the year 2008 with a revenue of Rs 665 crore, which marked a 31 per cent growth over the previous year. It plans to invest Rs 20 crore for expansion initiatives in H2 of this year, Alok Bharadwaj, senior vice president, told the media here on Wednesday.
The three-pronged strategy to achieve the sales target includes increasing penetration to more towns, organising Canon League programme (CLP) and festival sales schemes. Canon aims to increase its penetration in a phased manner to 500 towns from the present 200, with more than 2,000 outlets across the country in next three years. By December this year, the company would be present in all the Tier 1 and II cities, he added.
The company has launched the CLP to develop and build a strong distribution channel. Under this, the channel partners of the company receive benefits such as in-shop branding, merchandising and higher margins for sales.
The programme has been rolled out in Delhi, Mumbai and Chennai and would cover 34 more towns this year.
Bharadwaj said 30 per cent market share in Kerala would be achieved during Onam.
The company opened its ninth exclusive service centre at Kochi today.
