Business Daily from THE HINDU group of publications
Tuesday, Dec 04, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Dec 04, 2007 ePaper | Mobile/PDA Version |
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Marketing
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Strategy Corporate - Alliances & Joint Ventures Fedders Lloyd, JVC plan $30-m investment Our Bureau New Delhi, Dec. 3 Air-conditioning major Fedders Lloyd Corporation Ltd (FLCL) and Victor Company of Japan (JVC) would be jointly investing $30 million to create space for JVC products in the consumer electronics market here. Barring car-audios, the two companies would join hands in cultivating the Indian market. Fedders Lloyd will market the JVC brand in India. The association is likely to help JVC in expanding its sales in India to over $200 million by 2010, the companies said here on Monday. “JVC will unify the marketing effort through a strong partnership with a company which has a nationwide network of dealers for building an organisation structure that can expand sales in India and take advantage of current and future market expansion,” Mr Kuni Hi Ko Sato, JVC President, said. FLCL and JVC is targeting 70 per cent of the Indian population who are below 35 years of age. Under the new framework, Lloyd, which has a strong network of dealers for its existing range of products like air-conditioners, microwave ovens, DVD players and washing machines, will play a central role as JVC moves forward with its active marketing of its products. Speaking on its retail venture, Mr B.R. Punj, Chairman and Managing Director of Fedders Lloyd group, said his company expects its retail venture, started in April 2007 under brand name Lloyd, to sell consumer electronics and home appliances. The company hopes to break even by next year. More Stories on : Strategy | Alliances & Joint Ventures | Air-conditioners & Refrigerators
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