Consumer appliances firm Godrej Appliances is planning to set up 250-300 exclusive brand outlet (EBOs) in three years.
Consumer appliances firm Godrej Appliances is planning to set up 250-300 exclusive brand outlet (EBOs) in three years. The firm, which has opened its first EBO in Delhi, has also lowered its growth sales target for the current fiscal from 25 per cent to 15 per cent at Rs 3,200 crore due to poor summer season sales."We have reduced our sales growth target to 15 per cent this year from 25 per cent set at the start of the fiscal due to poor summer sales. Cooling product account of 80 per cent of our total sales. We are targeting turnover of Rs 3,200 crore this year as against Rs 3,500 crore set earlier," Godrej Appliances Business Head and EVP Kamal Nandi was quoted in a PTI report.
However, the firm is opening exclusive brand outlets to increase its brand visibility and to cash in on the growing aspiration of customers in smaller towns. "We plan to open 250-300 EBOs in three years time. Our focus while opening EBOs is more on tier II and tier III cities. These exclusive brands will give us good visibility and we have seen good sales happening through these stores," he was further quoted as saying by PTI.