Anchor Electricals Pvt Ltd, a wholly-owned subsidiary of Panasonic, today announced the change in its legal entity to Panasonic Life Solutions India Pvt Ltd with effect from 1st April. With this, the brand has also changed its corporate identity from ‘Anchor by Panasonic’ to ‘Panasonic’. This alteration expresses its vision to “Make a better, comfortable life with human oriented solutions”.
Panasonic Life Solutions India, formerly known as Anchor Electricals, has been selling a wide range of electrical products for over five decades through its strong dealer and distributor network spread across the country. “Anchor has been the industry leader in Wiring Devices and also has a significant presence in Switchgears, Wires Cables & Tapes, Conduit Pipes, Lighting, Solar, Housing, Power Tools and Indoor Air Quality (IAQ). The positioning for the two core brands, however, remains the same, with Anchor targeting the value for money segment and Panasonic catering to the premium end of the market,” a company statement said. The company plans to become a billion-dollar entity by 2021-22.
Vivek Sharma, Managing Director, Panasonic Life Solutions India said, “We are one of the leading players in the manufacturing and selling of electrical and construction materials. Our products are made from cutting-edge and innovative Japanese technology and occupy a unique positioning in the market. We are delighted to unveil our new corporate identity which will help us in strengthening our position in our segment. With this change, we would position the brand as one that would take care of the expectation of modern India consumers.”
He informed that the company plans to set-up a new manufacturing facility in Andhra Pradesh to cater to the need of Southern part of the country. Panasonic is also strengthening its focus in B2B and B2G segments to penetrate the untapped markets, he said.
Tetsuyasu Kawamoto, Joint Managing Director, Panasonic Life Solutions India, said, “We aim to offer outstanding products and services across all categories to our consumers. With the new name, our goal will be to transform the vision of ‘Making a better, comfortable life with human-oriented solutions’ to reality.”
Dinesh Aggarwal, Joint Managing Director, Panasonic Life Solutions India stated, “Through Panasonic Life Solutions India Pvt Ltd, our objective is to augment the brand recall amongst our existing consumers and enhance our consumer reach. At the core, brand Anchor will cater to value for money consumers whereas, Panasonic will focus on providing a comprehensive solution for energy saving, comfortable and safe living.”
Sharma further adds, “Panasonic considers India as a critical market in the ISAMEA (India, South Asia, Middle East and Africa) region. We target to increase our export by 10 per cent in next 5 years.”