Having completed 20 years of operations in the country, Canon India recently unveiled a new logo to commemorate the occasion. The company claims India is among its fastest growing markets globally and in terms of DSLR sales, India is the fifth largest market for Canon. It has also set a new benchmark, ‘Vision 2020’ to chart its next phase of growth in India. By 2020, it aims to reach revenues of Rs 3500 crore by attaining a year-on-year double digit growth.

Incorporated in 1997, Canon India began operations in the B2B space with the distribution of copier, scanner and business office solutions. It was in 2003 that it first integrated the camera as its direct sales entity to Canon India.

The company now has 50:50 share in the B2B and B2C space, and intends to keep it that way. “That way we are nicely hedging the risk,” reveals Canon India’s president and CEO, Kazutada Kobayashi.

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Currently, Canon India has a 48-50% market share in the DSLR segment. As of 2016, Camera (ICP) division’s contribution stood at 48%, followed by Consumer Systems Products (CSP) at 23% and Business Imaging Solutions (BIS) at 22%.

For the past 20 years, the brand’s journey has been an eclectic mix of its aggressive marketing strategy, an array of product launches and rapid retail expansion, especially in tier 2 and tier 3 markets.

The focus has been on customer engagement, education and experiential purchasing. “Smartphones have mostly affected the market of point and shoot camera (compact camera), but have overall expanded the market of photography,” says Kobayashi. “The total camera business is increasing and our focus is on DSLR with sharing capabilities.”

Not just DSLR — the company is also looking to offer complete solutions around photography. “We don’t underestimate the printing industry either. We have brought technology in the ink-jet category which brings the finest resolution (9600 dpi), especially to cater to the Indian audience’s love for colorful weddings,” he says. It plans to offer photography solutions such as printed albums and frames. Holding photography workshops, EOS Nation Seminars and properties like PhotoMarathon will continue to be focus areas.

Canon plans to double the count of its 214 Canon Image Square (CIS) stores by the end of 2020. Kobayashi is aware that CIS stores are not enough to cover the length and breadth of the country, which is why there is a focus on online distribution as well. “Online is a natural trend in distribution. We cannot miss it,” he says. “But online doesn’t constitute 100% of distribution in any part of the world. It is a matter of coexistence.”

Two decades of presence in India have given Canon a keen understanding of Indian consumers, which makes the company bullish about the opportunity here. “India has a huge potential due to the rising middle class and the increasing number of households due to nuclearisation,” he says.

Along with entry level and mid-level DSLRs and photography solutions, Canon will focus on office document solutions, including copy machines and scanners.

The 20-year journey has witnessed periods of fast and moderate growth for the brand. 2007-2012 saw Canon witnessing rapid growth where it marked over 30% in CAGR year-on-year. However, it has been growing at 2-8% 2012 onwards due to a drop in the Indian rupee and its 100% reliance on imports. In 2016, it registered a growth of 9%, with revenue aggregating to R2,348.6 crore.

Ankita.Rai@expressindia.com

@rankita