EXPANSION PLANS NATIONAL
MUMBAI, MAHARASHTRA, INDIA
By IFAB MEDIA - NEWS BUREAU - July 18, 2024 | 240 3 minutes read
Singer India Limited, a leading brand in sewing machines, consumer durables, and electronics, has announced a strategic expansion of its distributor network and a comprehensive revamp of its retail stores. This move is part of the company's broader initiative to strengthen its market presence and enhance customer experience.
Currently, Singer India offers over 100 SKUs in the sewing machine category and more than 190 SKUs in the appliances category. Holding a 20% market share in the household sewing machine segment, the company aims to increase this to 25% over the next two years. Additionally, with the recent launch of its embroidery digital sewing machine, Singer India targets achieving a 45% market share in the Auto Zig Zag category within the same timeframe.
To support these ambitious goals, Singer India plans to appoint 75 new distributors across India, who will in turn appoint sub-dealers. The company currently operates directly in 2,500 retail touchpoints and indirectly in over 10,000 retail touchpoints. By expanding its distribution network, Singer India aims to deepen its direct market presence significantly.
In line with its expansion strategy, the company is also focusing on improving profitability. Last year, Singer India reported a 65% increase in profit, driven by a nearly 3% expansion in gross margin. The company aims to build on this success by forging new distribution partnerships and enhancing existing ones.
Simultaneously, Singer India is set to revamp its retail outlets to create a more modern and engaging shopping experience. The redesigned stores will feature contemporary aesthetics, intuitive layouts, and enhanced customer engagement, supported by technological integration. This revamp aims to provide a seamless shopping experience, reinforcing the company's commitment to customer satisfaction.
Amidst industry shifts, Singer India's proactive approach positions it well for sustained growth, reinforcing its presence in the hearts and homes of consumers across the nation.
The announcement was shared on the official LinkedIn page of Technopak Advisors, highlighting the consulting firm's integral role in the consumer goods sector.