Casio ties up with Reliance Retail, plans to enter mobile mkt

NEW DELHI: Aiming a five-fold increase in revenues on the back of retail boom in India, electronics firm Casio has tied up with Reliance Retail and is in talks with other players to expand its distribution network.

"By increasing visibility of our products with the help of these big retailers, we are expecting our revenues to cross Rs 300 crore in the next five years," Casio India head marketing and sales Kulbhusan Seth told.

Last fiscal, the company clocked a turnover of around Rs 60 crore, he said.

The firm, which sells electronic items like calculators, synthesisers besides watches, is also planning to expand its product portfolio in the country to include mobile handsets.

"As the Indian market grows, we will launch more products, including mobile phones, in near future," Seth said.

He said the company expects around 40 to 45 per cent of its total sales to come from organised retail.

The company has tied up with the Reliance Retail to sell its products through the latter's outlets and is also in the process of finalising agreements with others, Seth said.

Casio is also planning to increase its exclusive outlets to 15 from the present five in the country by this fiscal-end.

The company accounts for more than 70 per cent share in the digital calculator segment, which contributes over 45 per cent of its turnover, the rest comes from other items.

Casio is also emphasising on promoting its synthesizers for which it has earmarked Rs 1 crore as promotional budget, Seth said.