May 12, 2015: Philips further strengthens its position in the Indian lighting market by launching two premium European lighting brands, Luceplan and Modular, to tap the Rs 3500 million luxury lighting market in India.
The company will initially sell through exclusive retail partners in Indian cities Delhi, Mumbai and Bengaluru.
Harsh Chitale, CEO, Philips Lighting Solutions-South Asia, said that in India, there is a niche but considerable demand for designer lighting as million-dollar homes and offices are increasingly coming up. “So far, consumers had to pay higher prices to import such lighting products but now consumers will have access to high-end lighting products in their own cities,” said Chitale.
Luceplan, headquartered in Milan, is a 40-year-old company, while Modular Lighting Instruments is based in Belgium and its products and lighting solutions are integrated in architectural projects in hospitality, offices, retail, private residences and public buildings.
Patrizia Vicenzi, CEO and general manager, Luceplan, said entering the Indian market under the leadership of Philips Lighting presents a bright opportunity for the brand to consolidate its growth outside the European market.
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