BPL is eyeing over five-fold increase in the turnover of its consumer business to Rs 500 crore in the next three years as it expands its product portfolio and strengthens distribution. The company’s consumer business, through a joint venture with Japan’s Sanyo Electric, collapsed after the Japanese company ceased to exist globally in 2006-07. BPL re-entered the market two years ago with a select range of products through the online distribution channel. “Our vision is to cross over Rs 500 crore turnover in the consumer business in the next three years. We believe there is opportunity and potential to increase our business. BPL has good brand recall,” BPL Ltd COO Manmohan Ganesh told PTI.
BPL’s consumer business is looking at closing the current financial year with turnover of Rs 100 crore. BPL has an exclusive distribution tie up with Amazon to sell its products in the country. In the next five years, BPL’s consumer business will only be available online.
The company is also working with Amazon to jointly develop a smart television and voice-based Alexa speakers, Ganesh said. Ganesh said the company will enter the audio segment with launch of Alexa speaker and sound bars in the current calendar year and also widen portfolio of existing categories including television, refrigerators and air conditioners.