January 30, 2015: Chinese lighting company Opple Lighting has started its operations in India by opening an exclusive retail store in Chennai. The store has been opened in partnership with a distributor. By the end of this year, Opple will establish 5,000 points of sale.
The $600 million company, Opple aims to achieve a target revenue of Rs 4500 million in the next five years. It also plans to appoint about 30 distributors across the country by the end of the year.
Opple is the first Chinese lighting company to penetrate the Indian market. Its LED product are priced at least 15-20% less than the domestic market price. While initially, the products will be imported from China, Opple will consider establishing an assembling facility in the next 3-5 years.
?We see a huge opportunity in India and our immediate focus will be to penetrate the top 30 Indian cities,? said Naveen Saxena, country head, Opple Lighting India.
Indian lighting industry has been growing at about 17-18% over the last 2-3 years, and is projected to clock Rs 80,000-120,000 million turnover in the next five years. According to Elcoma, the LED sector in India is expected to grow at an annual 41.5% in 2015.
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