PANASONIC HOMES & LIVING INCREASES ITS FOOTPRINT IN BENGALURU, LAUNCHES ITS FIRST L CLASS MODULAR KITCHEN
~ INAUGURATES EXCLUSIVE FLAGSHIP AND FRANCHISE STORES ~
Bangalore : Panasonic, one of the largest domestic manufacturers of electrical construction materials, housing, diverse electronics technologies and automotive space, today announced the launch of its first exclusive L-Class Modular Kitchen experiential and franchise store in Bengaluru. The new stores offer alluring range of Modular Kitchens, which entail diverse patterns designed to suit the needs of every individual as well as access to some of the most unique and elegant kitchen designs in India to create personalised and attractive dinning space as per ones needs.
Customers in Bangalore can now visit the L- Class Modular Kitchen offline / Flagship / experiential store of 5200 sq. ft. and franchise store of 1280 sq. ft. spread located at the below addresses:
• Franchise store- Inner Ring Road, Koramangala, Bengaluru
• Flagship store- Aishwarya Ambassador, 80 Feet Road, Defence Colony, Indiranagar, Bengaluru
The new range of L-Class kitchen designs are three-storied compartments which have the highest storage capacity than usual models and it is also inserted with surgical grade SS film to prevent dents, stains and maintain overall product appearance. Additionally, the L Class Kitchen model offers an extra 10% storage capacity along with a special feature called “floor stocker” along with smart units for efficient storage. The model ensures safety through earthquake locking system that protects cabinet’s contents from quakes and helps avoid potential damage. In addition, the facility of safety strip and dust resistance helps enrich the overall product life.
Panasonic’s Modular Kitchen business started in 1963 in Japan and has grown tremendously over the years providing numerous varieties and layouts of kitchen cabinet, storage and accessories by catering to approximately 6 million consumers in Japan. Panasonic aims rapid expansion in the Modular Kitchen business by tapping metro cities, along with Tier I and Tier II cities. Panasonic is all set to mark its presence across 31 cities by FY 2020 with the inauguration of Panasonic stores in Bangalore
Commenting on the launch, Mr. Masashi, Yamada, Panasonic Managing Executive Officer, Senior Vice President Life Solutions Company said, “We at Panasonic believe in inspiring consumers’ way of living and are committed towards offering the best of comfort, safety and class to everyone around the world by combining our high-class technology and vast knowledge of housing appliances. We now aim to offer the same to our consumers in India by fulfilling their requirements through our goal of ‘a better life, a better world’ through multiplying our technologies and expanding our business in India in to the overall housing segment.”
Talking about the launch, Mr. Vivek Sharma, Managing Director, Panasonic Life Solutions India said, “Bangalore is a dynamic, progressive and evolved market when it comes to embracing technology and innovation in products, especially amongst the millennials. Today’s consumers prefer smarter products that are more elegant, comfortable and easy to use. They are choosing new-age materials and selecting contemporary sophisticated designs for their homes. We understand the importance of the kitchen, as the most vital part of the home. We, at Panasonic, aim to go an extra mile and offer our consumers the most delightful kitchen experience with our newly designed L Class models.”
Mr. Dinesh Aggarwal, Joint Managing Director, Panasonic Life Solutions India, added, “Panasonic has established itself as a manufacturer of high quality and innovative electrical construction material over the past decade; especially for the Residential and Commercial infrastructure. We have established strong relationships amongst Developers, Contracting Companies and Specifiers; which encourages us to bring in additional products from Panasonic, Japan.”
He further added, “Housing is one such business, which has been initiated, and we have launched the luxurious, L class kitchens in Bengaluru. The response has been very positive, giving us confidence to sell the L class kitchens across India and to bring in more Housing products from Japan. The modular kitchen market in India is expected to grow at a CAGR of over 20% and we believe that franchisees who share our belief in creating innovative spaces will be an integral part of our expansion. Panasonic L class promises “affordable luxury kitchens”, which are very elegant and highly functional”
Headquartered in Mumbai, Panasonic Life Solutions Indian Private Limited, (Formerly known as Anchor Electricals Private Limited) started nearly five decades ago and became a subsidiary of Panasonic Electric Works (now Panasonic Corporation) in 2007. It is one of the largest domestic manufacturers of electrical construction materials with 6 manufacturing units in 4 locations and boasts of 34 domestic offices and has employee strength of about 9000. Its sales and operating profit are steadily growing and it ended the last financial year with net sales in excess of INR 34,000 Million. It has a dominant market share in Wiring Devices and it is constantly expanding its product range and growing market shares in Switchgears, Wires, Cables & Tapes, Conduit pipes, Lighting, Solar, Housing, Power Tools and Indoor Air Quality. Panasonic Life Solutions India Private Limited aims to double its turnover in the next three years through existing and new product categories.