Anchor to Expand LED Lighting Business and Begin Manufacturing in India

Anchor Electricals, a subsidiary of Panasonic India, is reportedly looking to expand its LED lighting business. Last week the company opened an LED lighting experience center in Mumbai and announced plans for a similar center in Bangalore."Our next such showroom will be in Bangalore and we will continue expanding to other major cities in India and hope to increase to 1,000 stores, including distributor and dealer stores, by around FY 2014-15," Anchor Electricals vice president sales Ashok Gangar said. "We will open four distributor stores in Mumbai and gradually spread out to other main urban areas." Gangar further stated that Anchor would soon select a site for a new plant to manufacture LEDs in India, however, he refused to share the details of the location.

Panasonic acquired Anchor, the 49-year-old Indian family-owned electrical equipment brand, in 2007. Anchor sells products like switches, fans, CFL and LEDs and also sells switches under the Panasonic brand, which are priced slightly higher.

"By March next year our turnover would be Rs 2,100 crore and it has almost doubled. In 2007, when Panasonic acquired it, the turnover was around Rs 1,000 crore," he said, adding that it has remained in number one atop the electrical switch gear industry. Currently, 55 percent of the company's revenue comes from this business segment, Gangar noted.

Although, presently the company does not export, Ganger revealed the company has plans to export in next two years to Gulf and Africa. "Till now there is no export from us. But in last few years, changes have happened. Our quality has improved as new technologies are coming from Japan. In next two years, we would start exporting our products to Middle East and Africa under Anchor by Panasonic brand."