Chinese lighting solutions company Opple is aiming to capture 20 percent market share in the premium LED segment in India over the next 5 years and also planning to set up a manufacturing base and R&D centre here to make the country an export hub.
"We are not only investing in India as a sales force. But next step which would be next year is a manufacturing base and an R&D centre as using the technology of China or Europe would not work for India," Opple India Head Rambo Zhang told PTI.
He further said: "We want to have a true value chain here. We want to have 20 per cent market share in the premium (LED) of India and to match that ambition, it needs investment... We are importing from China as of now. India has a huge market size and requires an advance in costs." However, Zhang did not share the investment details.
"We would share the details in an appropriate time by the end of this year," Zhang said.
Besides, the company is also looking for partners to have strategic alliances to develop a true value chain in India, he added.
Opple also has plans to make India a export hub catering to the other geographies.
"You have the potential to serve not only the domestic market but to the global market (market) also in the next 3 to 5 years based on our R&D," he said.
On the network expansion, he said: "Opple plans to roll out 30 large format exclusive brand stores across top 30 Indian cities within next 3 years," he added.
At present, the company has around 10 brand stores.
Opple caters to both B2B as well as B2C segments and at present, 60 per cent of its sales come from direct retail and rest 40 per cent from institutional sales.
Opple is also planning to participate in the smart city projects in India along with its partner Huawei.
"Smart lighting for smart city is our core competence. We have a strong strategic alliance with telecommunication company Huawei and they are very strong in that," he said.
Opple had forayed into the Indian market in 2014.
Headquartered in Shanghai, Opple Lighting was established in 1996 and has operations in over 50 countries.
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