Panasonic Life Solutions India has plans to open 130 exclusive brand stores across tier one and two markets by the financial year 2021-22 to cater to the growing need of the electrical and construction material industry. Vivek Sharma, MD at Panasonic Life Solutions India, said these stores will serve as experience centres for consumers and influencers. He said the stores will target customers as well as builders, contractors and architects. The company has opened the first such outlet in Hyderabad will be setting up these stores in a franchise owned and operated model.
‘This unique experience of sorts would help the Indian consumer move up the ladder of comfort and choice in a category which otherwise is largely driven by electricians and is associated with crowded electrical stores,’ said Sharma.
The company said the exclusive store will showcase latest products like energy recovery ventilator, electronic automatic toilet seats, bathroom dryers, LED lighting solutions and electrical wiring devices. The company sells its products under the ‘Anchor by Panasonic’ brand. Panasonic Life Solutions India (formerly known as Anchor Electrical) is a wholly-owned subsidiary of Panasonic Corporation.
Read EquityPandit’s Nifty Outlook for the Week