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65th ‘Canon Image Square’ Launched Along With New Hyderabad Office
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Thursday, June 14, 2012:
Canon India Pvt. Limited, India's No 1. Complete Digital Imaging Company has launched its 65th Canon Image Store (CIS) along with a new office in Hyderabad. The motive behind the inauguration of the retail store and the office is to strengthen Canon's foothold in the South Indian region, by boosting sales and increased brand visibility.
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During the inauguration, Mr. Kevin Kobayashi, CEO, Canon India, said, "Markets such as Hyderabad are critical to Canon's growth in India. The exclusive CIS Hyderabad store enforces Canon's increased focus on penetration across south India including tier II & tier III cities. Our customers here have reposed great faith in us and their overwhelming response to our products, have helped us grow our market share across categories. This is an endeavor to express our gratitude to them and ensure state of the art imaging products and services, on a continuous basis."
Dr. Alok Bharadwaj, Senior Vice President, Canon India, added "The Andhra Pradesh sales for Canon have been increasing at a rate of 50%. This new marketing strategy of opening an exclusive retail store along with a full-fledged Canon branch office in Hyderabad will enable better sales and increased brand awareness in the rest of the state in Andhra Pradesh. The CIS will provide a unique purchase experience to customers as a trained technical team will explain the technology and usage of Canon products. While the product features will be demonstrated, the consumers will experience the touch and feel of the latest digital imaging products. Also, the new office inaugurated is a sign of increasing sales and a promise to delight customers of the region, better than ever,"
The franchise based store is strategically located in one of the evolving business centers in Hyderabad. Somajiguda is home to international banking institutions, well known IT companies and well known automobile sales. The store is intended to be a one-stop destination for people with imaging needs. The wide displays of products with touch and feel experience allows the customer to make a better and informed decision at the point-of-sale.
The CIS brand stores enforces Canon's increased focus on penetration across the country including major metros and tier II & tier III markets. The area covered by each outlet varies from a minimum of 600 sq. ft to a maximum of 900 sq. ft with franchisee investment of Rs. 25 to Rs. 30 lacs located in malls or any high footfall area. Expected breakeven of these stores is in about 6 months with ROI of 18-19%.
The Canon new office premise in Hyderabad is 5400 square feet and located at Raj Bhavan Road, Somajiguda. The office is designed around the core principles of Kyosei, which symbolizes 'All people, regardless of race, religion or culture, harmoniously living and working together into the future'. The Hyderabad centre seats around 37 employees. Some of the highlights of this office include a magnificent reception with almost 100% additional seating capacity. The premise also features a 20-seater conference room.
Understanding the evolving consumer needs, Canon plans to tap the growth of retail market estimated at Rs 300 crore annually and the digital imaging market that is currently growing at 50%. The stores opened till date experienced an average foot fall per store per month of 2000. The increase in footfall in weekends over weekdays is over 100%.
From the store (CIS) exclusively, the company has plans to open 300 stores by 2015 and expecting revenues of Rs.175 crore in 2012 and Rs.1000 crore by 2015.
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