Nikon India appoints Sajjan Kumar as first Indian MD
Nikon India is targeting a turnover of Rs1,200 crore in the current fiscal
New Delhi: Japanese imaging product major Nikon expects India to contribute around 5% of its global sales in next two financial years mainly on the back of growing sales of DSLR cameras, according to a top company official.
Nikon India, the company’s wholly-owned arm which announced top management changes with the appointment of Sajjan Kumar as its new managing director, is targeting a turnover of Rs1,200 crore in the current fiscal.
Kumar is the first Indian to lead Nikon’s operations here. He takes over from Kazuo Ninomiya, who is moving back to Japan for a new role in Nikon Corporation after completing his three years tenure. “India is an emerging market for Nikon and has good potential. We almost contribute 3 per cent to Nikon (sales) globally. We are aiming, at least in next two fiscals, to contribute close to 5 per cent,” Nikon India managing director Sajjan Kumar told PTI.
For the financial year 2017-18, Nikon India reported a turnover of Rs1,150 crore, posting a growth of 5%. “The revenue of the company grew by 5 per cent last year, closing at Rs 1,150 crore. This fiscal, the company is aiming at closing on Rs 1,200 crore,” Kumar added.
Besides, Nikon India which presently has around 45% market share in the domestic market in DSLR (Digital single-lens reflex) and compact cameras, expects to retain its position, he added. Last year, the Indian DSLR market stood at around 5 lakh units and this year, it is expected to be around 5.25 lakh units by registering 5% growth.
While, compact cameras are expected to be around 2.5 lakh units. Nikon India is also now enhancing its retail presence in non-metro places by opening more Nikon Experience Zones, which are in shop-in-shop format.
“Right now we have 140 Nikon Experience Zones ... We would be adding 10 more experience zones this financial year,” he said adding, “we are not capping it to metros only but taking to upcountry towns.”
Nikon India would spend around Rs90-95 crore on marketing/branding as the company wants to be more visible. It is also focusing to enhance the customer’s experience in terms of sales, service and also to help them refine their skills through its Nikon School where its organises photography workshops, training etc by associating with ace photographers.
Kumar said his main “focus would to enhance the customers experience here”. Nikon India is a wholly-owned subsidiary of Tokyo-based Nikon Corporation.
Editor's Picks »
- Amazon’s All-new Echo Plus packs a punch for casual music lovers
- Love reading, so which Kindle e-reader is the right fit for you?
- Walmart upbeat on outlook as sales global growth continues
- ITC eyes Rs1 trillion turnover from FMCG, plans to expand food portfolio
- US markets hit by weak earnings, Brexit concerns