Canon India to have 300 brand retail stores by December 2015

Canon India

Imaging products major Canon India would increase the network of its retail stores, Canon Image Square, to 300 by December 2015 to boost sales in the growing DSLR camera segment in India. The company, which holds around 45 percent market share in the digital single-lens reflex (DSLR) camera segment, is expecting a business of Rs 2,100 crore in 2014. “We would be having around 300 Canon Image Square stores in India by the end of December 2015 from present 110 stores,” Canon India Executive Vice President Alok Bharadwaj told PTI.

“Canon India is growing at a rate of 10 percent per year and would achieve the Rs 2,100-crore business target by the end of this year,” he added. In 2013, Canon India had a business of Rs 1,910 crore. Moreover, in the DSLR segment Canon is growing annually 50 percent, he added. “The DSLR camera market is expected to be around 3.6 lakh units this year and we would retain our market share,” Bharadwaj said. DSLR camera segment is growing very fast in India from 10,000 units in 2007 to 3 lakh in 2013, he said. “The youth segment is now opting for DSLR. Now it’s not only meant for professionals but for amateurs also,” he said adding Canon is selling 90 per cent of its DSLR to amateur segment which includes mothers and budding photographers.

Presently three entry level models, EOS 1100D, 1200D and 600D, account for about 80 percent sales of DSLRs in India. Canon’s entry level DSLR starts from Rs 28,995. The company today launched ‘Canon Professional Services’ club for professional photographers using 5D and 1D series camera in India. It would provide after-sales service and range of special benefits to professional photographers under the scheme.

According to Bharadwaj, the company has sold around 15,000 high end professional cameras in last five years. “We have sent invites to 2500 professional photographers. It would be a club by invitation only,” he said. The Canon Professional Service has been successful in Singapore, Malaysia, Indonesia and Thailand.