Panasonic India to mark 12,000 stores by 2020

Panasonic India is betting big on its smart home appliance range to grow aggressively this fiscal. The company aims to grow at 40 percent this fiscal against the industry growth of 6-7 percent in the Rs 11,800 crore home appliance market. With its new range of appliances, equipped with ECONAVI inverter technology, Panasonic expects to capture around 5% of the frost-free refrigerator market and 10 percent of the washing machine market by FY2021. The company is planning to strengthen its sales network by increasing its retail outlets from 7,500 to 12,000 stores by 2020. It recently started manufacturing refrigerators at their Jhajjar plant in Haryana. Panasonic India’s store expansion plan is an added business advantage for the signage companies whose activities in in-store branding and graphics projects.