Nov 12, 2012, 10.24 PM IST
When the going in the European and American markets became tough, premium audio and infotainment company, Harman, which owns the JBL brand, shifted focus to emergeing markets like India and hit the jackpot.
When the going in the European and American markets became tough, premium audio and infotainment company, Harman, which owns the JBL brand, shifted focus to emergeing markets like India and hit the jackpot. Farah Bookwala of CNBC-TV18 reports that with Indian music maestro AR Rehman now endorsing the JBL brand, Harman has a spring in its step, and a song on its lips.
Stock markets crashed, growth screeched to a halt and globally, the pandemonium resulted in cacophony. So, Harman International, which owns the JBL brand, turned to emerging markets to boost growth and it's been making merry music ever since. The new markets are made up a healthy portion of its Rs 20,000 crore turnover that it recorded in 2011.
Dinesh Paliwal, Global CEO & President, Harman Intl says, "We had zero presence in these countries. Today, we have nearly 20 percent of our sales coming form BRIC countries, which are growing at 35-40 percent per year over the last 12 quarters, that is three years in a row, we have had a growth of 19 percent on the top-line and 230 percent on the bottom-line."
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