Shanghai-based lighting manufacturer OPPLE Lighting has set a target of generating Rs 450 crore revenue and plans to set up 30 large format stores across the country in the next three years, a top official has said.
"Opple will play a defining role in the LED transformation in the country. Our strong technology and Research and Development investment equips us to cater to markets with speed and ease. We believe that the LED market in India to be USD 500 million by 2017," Opple Lighting India Chairman S Venkataramani said.
"With an initial investment of Rs 600 million, OPPLE will roll out 30 large format exclusive brand stores across 30 cities in India in the next three years. We are targeting a turnover of Rs 450 crore from the Indian market in next three years," he said in a statement.
Ten of the 30 stores would be in the Southern region, he said.
The company's first 'Experience Store' spread over 2,000 sq ft was inaugurated recently. It would be a one stop shop for all lighting application needs, he said.
The lighting industry currently stands at Rs 12,000 crore, registering a Year on Year growth of 18 per cent. LED lighting was growing at 41.5 per cent, according to Electric Lamp and Component Manufacturers Association of India.
