Nakamichi looking at pan-India presence

Nakamichi, the Japan-based audio-visual major, is looking at a pan-India presence by the end of 2007, according to Pro Acoustics, part of the Relan group that manages the brand.

The company will invest close to Rs 20 crore in India in the current financial year.

"Right now, we have five exclusive outlets in India. We will have a total of 15 exclusive outlets by the end of 2007, of which two will be company-owned and the rest would be run on a franchisee model," Shane Choithramani, country head of Pro Acoustics, said.

The company claims that its biggest strength lies in the products' durability. "Any Nakamichi product will last at least seven years," Choithramani said.

The company recognises competition with popular brands such as Sony. "Some of our low-end audio systems are priced at Rs 26,000 and home theatres at Rs 1 lakh, which is comparable with some of the leading Japanese brands and their products and pricing," he said.

"Our products are imported and designs outsourced, but we may start assembling Nakamichi products," Choithramani said.

Nakamichi aims to emerge a strong player in India by 2008 and, accordingly, plans to use a combination of advertisements, participation in major exhibitions across the country such as the 'Audio-Visual Revolution' held in Delhi in September. "We will also sign a brand ambassador by mid-2007," he said.

Each of the new exclusive stores scheduled for launch will either have a service centre inside or within walking distance from it.

The company will also be tying up with banks in the next one month for installment payment schemes.

In India, Nakamichi registered a turnover of Rs 10 crore on March 2006 and is expecting sales to close at Rs 15 crore at the end of the current financial year.