Panasonic India to double its retail network

Panasonic India goes for expanding smart home appliance range to grow aggressively this fiscal. In this, the company aims to grow at 40 percent this fiscal against the industry growth of 6-7 percent in the Rs 11,800 cr home appliance market. With its new range of appliances, equipped with ECONAVI inverter technology, Panasonic expects to capture around five percent 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 double its retail outlets from 7,500 to 12,000 stores. Such store expansion plan of Panasonic India is a new business opportunity for the signage companies engaging in-store branding and graphics projects.