Thursday, May 17, 2012: 11:11:30 PM

Retail News

Symphony makes aggressive retail expansion plans

Company targets manifold increase in retail network; brand already enjoys presence at leading retail outlets

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Leading air-cooler brand Symphony Limited has enhanced its marketing through modern retail chains, e-commerce and TV shows in a bid to increase its sales further in India. The company expects these new modes of sales to contribute to around 20% of its domestic sales over the next few years.

 
Symphony enhanced its retail dealers network from 3000 around 3 years back to over 10,000 now. It is also targeting to grow this network to 20,000 by the next year as well as focusing on the other new avenues as additional stream of revenues. Symphony is already the market leader in the Indian air coolers market with a 45% market share. 
 
Retail presence
 
Amongst the modern retail chains, Reliance Retail, Croma, Big Bazaar, Spencer’s and Vijay Sales are the major contributors to Symphony’s air cooler sales. Symphony coolers are also available at Bharti Wal-Mart, Carrefour, Hyper City, Star Bazaar and many other leading retail chains. E-commerce portals with which Symphony has tied up are Flipkart, Infibeam and IndiaToday, amongst others. Company’s sales through TV shows like Star CJ and Home Shop too have met with great success.
 
Throwing light on the use of these new age sales avenues, Achal Bakeri, CMD of Symphony Limited, said, “We hope to grow air cooler sales by around 50% per annum through these three new selling avenues. The youth in India and the young modern working couples whose purchasing power has grown manifold in the past few years are the major target audience. In fact, the South Korean company which runs the Star CJ show in India has evinced interest in tying up with Symphony for its global markets too, based on the strong response from Indian consumers.”
 
The air-cooler market in India is gradually booming with several misconceptions about the equipment disappearing. According to New Delhi based lecturer Aatreyee Ghosh, “Sometimes the heat is so intense that it is impossible to imagine life without an air cooler.”
 
With the summer heat soaring, the aggressive retail expansion strategy by Symphony is well timed and likely to boost sales of the brand immensely.
 
Tias Chakraborty

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