The Times of India: October, 2014
Chennai: Chinese lighting solutions company Opple Lighting has entered the Indian LED lighting market with the launch of its first retail store in Chennai.
The Rs 3,000-crore company has a presence in over 50 countries and provides lighting solutions for both retail and commercial users.
Opple plans to invest about Rs 60 crore for its India operations, primarily for brand building and marketing. The company plans to set up 50 exclusive brand outlets and about 400 shop-in-shop stores over the next three years, according to Opple Lighting India chairman S Venkataramani.
"We are targeting a turnover of Rs 450 crore from the Indian market in the next three years, out of which we expect a 40% share from Southern India," he said.
The 50 exclusive brand outlets called 'Experience Store' will provide special consulting service for 'lighting design solutions', where Opple experts will help the consumers understand and implement the best lighting solutions for their space.
Lighting is a Rs 12,000 crore market in India, growing at a pace of 17-18%, of which the LED lighting segment is growing at a rate of 41.5%, according to ELCOMA (Electric Lamp and Component Manufacturers Association of India).
India, just being at the cusp of a transition from CFL to LED lighting, provides a perfect base for LED solution makers to capitalize on the opportunity, a statement from the company has said.