Philips bullish on its decorative lighting segment
By IANS - NEW DELHI
10th September 2012 12:57 PM
Electronics major Philips is bullish on its decorative lighting segment and calls it a critical segment which is emerging fast in India with rise in disposable income of urban consumers and their increasing interest in decorative housing.
Philips has launched a new concept of light lounges. These are experience zones where customers can see, touch and feel the diverse range of home decorative lighting concepts like Living Colors, Ecomoods, Kidsplace, Ledino and Aquafit.
The firm has opened 80 exclusive outlets in three years. The products at these lounges range from Rs.1,000 to Rs.1,00,000 depending upon the luminaire a customer wants.
The Rs.8,000 crore lighting market is growing at 12 to 14 percent growth rate per annum. Decorative lighting contributes to almost 6 percent of this market.
"Lighting as an industry is growing at a pace as never before specially with the introduction of new technologies. We are seeing the industry go through a transition as consumers are now more involved in the way their homes and workplaces are lit," Sumit Joshi, senior director marketing Philips Lighting India told IANS.
"From a family room, to a kids room or a kitchen, offices, schools, to a sports arena, lighting has acquired a completely new meaning for the Indian consumer," he added.
According to Joshi, the decorative lighting particularly is growing at 60 percent per annum with increasing disposable income of consumers and rise interest in decorative housing.
The company has also launched its new campaign titled - 'Zindagi ki Raunak' - which shifts the focus from just the functional aspects of lighting to the emotional benefit that the category brings to the consumer's life.
According to Shyam Sujan, secretary general, Electric Lamp and Component Manufacturers' Association of India (ELCOMA), decorative light concept in India is yet to catch up and is awaiting for big brands to enter into the market with innovative products.
"This segment requires a revolution by small and medium enterprises becoming innovative and coming out with new ideas. They will have to tie with large manufacturers as co-makers for them. This will happen when large manufacturers find this segment interesting," Sujan told IANS.
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