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Nina Varghese

Chennai , Aug. 25

HYUNDAI Electronics India Ltd plans to increase its retail footprint from 1,500 dealers now to 2,500, and gain market share during the coming festive season. Though there will be no price cuts, the company plans to come out with offers and gifts to woo customers.

The company will spend about Rs 100 crore on advertising and sales promotion this financial year.

Hyundai Electronics is taking the franchisee route in opening its chain of concept stores — the Hyundai Lounge and Hyundai Station. The Hyundai Lounge in Chennai is expected to open in September and the company plans to open nine more lounges by the end of this financial year.

Mr Subir Palit, Chief Operating Officer, Hyundai Electronics, said that at present there are Hyundai Lounges in Mumbai, Pune and Aurangabad. Besides Chennai, there will be lounges in Bangalore and Hyderabad by next month. In the second phase, the company will open these concept stores in tier-2 cities like Coimbatore, Surat, Kochi, Baroda and Nagpur.

Mr Palit said that the company has tied up with Georgia for refreshments, Music World for the latest in music and movies, and with Sify for surfing. The idea is to create an informal atmosphere where the customer can relax and not be pressurised to buy, he said.

The investment per outlet would be Rs 15-20 lakh. In addition, the company will open 40 Hyundai Stations in South and West India. Of that, 20 will be in the southern region, he said.

One of the features of the Hyundai Lounge and Station is the pit shop. Any complaints registered with them will be serviced in less than six hours, Mr Palit said.

The company plans to introduce new models of flat screen TVs, slim TVs, 29-inch TVs, DVDs, and digital cameras. The company will also be launching plasma TVs and LCDs (liquid crystal display). By April next year, it will also introduce microwave ovens and frost-free refrigerators.

Mr Palit said that the company is targeting a turnover of Rs 600 crore by end-2006. The group also plans to set up a manufacturing facility with an investment of Rs 100 crore in Uttaranchal to manufacture home appliances. This facility will eventually become a sourcing base for SAARC (South Asian Agreement for Regional Cooperation) countries.

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