New Delhi: Aiming a five-fold increase in revenues on the back of retail boom in India, electronics firm Casio has tied up with Reliance Retail and is in talks with other players to expand its distribution network.
“By increasing visibility of our products with the help of these big retailers, we are expecting our revenues to cross Rs300 crore in the next five years,” Casio India head marketing and sales Kulbhusan Seth told PTI.
Last fiscal, the company clocked a turnover of around Rs60 crore, he said.
The firm, which sells electronic items like calculators, synthesisers besides watches, is also planning to expanding its product portfolio in the country to include mobile handsets.
“As the Indian market grows, we will launch more products, including mobile phones, in near future,” Seth said.
He said the company expects around 40 to 45% of its total sales to come from organized retail.
The company has tied up with the Reliance Retail to sell its products through the latter’s outlets and is also in the process of finalising agreements with others, Seth said.
Casio is also planning to increase its exclusive outlets to 15 from the present five in the country by this fiscal-end.
The company accounts for more than 70% share in the digital calculator segment, which contributes over 45% of its turnover, the rest comes from other items.
Casio is also emphasising on promoting its synthesisers for which it has earmarked Rs1 crore as promotional budget, Seth said.