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- Canon to expand via franchising
Digital imaging technology provider Canon is planning to expand its India presence via franchising. Canon plans for opening 300 stores pan-India, starting with nine new stores by next year confirmed Dr Alok Bhardawaj, Senior Vice President, Canon India.
Canon signed three stores in Kerala, two of which are in Kochi and another in Thiruvananthapuram. During the last calendar year, the company opened 73 exclusive stores in 42 towns in India, with the market share growing by 9 per cent to reach 25 per cent. Canon is looking at a turnover of Rs 100 crore, 43 per cent of which will come from over 590 small towns across India. In addition to this, Canon will spend Rs 40 crore from now until Christmas for marketing and promotional purposes.