Digital imaging solutions provider Canon is targeting an annual growth of 10% to achieve 3,500 crore revenue in the Indian market in next three years as it looks to expand footprint beyond metros.
The company’s revenues in stood at 2,348.6 crore in 2016, a growth of 9% from the previous year, Canon India President & CEO Kazutada Kobayashi said. “2016 marks yet another successful year for our journey in India, as we register a growth of 9%, with our revenue aggregating to 2348.6 cr… For 2017, the aim is to increase revenues to about 2,500 crore,” he said.
Mr. Kobayashi added that the company will focus on expanding retail footprint, particularly in tier II and tier III cities. “By 2020, we envision to reach revenues of Rs. 3,500 crore. We need to grow at-least at 10% every year to achieve this growth,” he said. Canon, which is celebrating 20 years of operations in India, will be opening 200 more retail outlets under franchisee model in the next three years, of which 90% will be in smaller towns.
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