AIWA India will introduce a range of luxury Hi-Fi speakers in September, followed by air purifiers and TV panels by the end of this year.
“These are steps towards our goal of reaching $ 1 billion in revenue in India over the next five years,” AIWA India Managing Director Ajay Mehta told PTI.
AIWA returned to India after a period of 18 years.
According to the company, it is currently in setup mode and expects sales of around Rs 100 crore during this calendar year.
AIWA is very encouraged after getting a good response from customers in its second run, as the brand is very “recognizable” here, Mehta said.
In accordance with its strategy, AIWA will offer products with a Japanese heritage at a reasonable price and will not compete with its competitors by lowering its prices.
The company plans to have its TV made in India, while audio and other products are imported from its global factories, Mehta added.
The company launched a full line of personal audio products in April of this year and was well received.
AIWA has partnered with Amazon for its online sales and Reliance Digital for offline sales and is now expanding to other channels as well.
“AIWA is available online on Amazon and through Reliance Digital stores, 200 stores across India, we started selling in general trade from July. We are also in discussion with Croma,” Mehta added.
In addition, in the long term, AIWA also plans to introduce several other products, including compressor-based cooling products to the domestic market.