Anchor Electricals Private Limited, a wholly owned subsidiary of Panasonic, today announced the change in its legal entity to ‘Panasonic Life Solutions India Private Limited’ with effect from April 1, 2019. 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 Private Limited (Formerly known as Anchor Electricals Private Limited) has been a leader in the consumer electricals segment for over five decades. The company has been selling a wide range of electrical products 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.
Said Mr. Vivek Sharma, Managing Director, Panasonic Life Solutions India Private Limited, “We are one of the leading players in the manufacturing and selling of electrical and construction materials. Our products are made from cutting edge & 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”.
Said Mr. Tetsuyasu Kawamoto, Joint Managing Director, Panasonic Life Solutions India Private Limited, “At Panasonic Life Solutions India Private Limited, 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.”
Stated Mr. Dinesh Aggarwal, Joint Managing Director, Panasonic Life Solutions India Private Limited “Changing the company name is a step forward into an era of transformation. Through Panasonic Life Solutions India Private Limited, 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 & safe living.”
With this step, the brand Panasonic Life Solution Private Limited will also be foraying into a new category, introducing an all-new first of its kind of modular kitchen, which is on the threshold of its launch in India.
Headquartered in Mumbai, Panasonic Life Solutions Indian Private Limited, (Formerly known as Anchor Electricals Private Limited) started nearly five decades ago and became a subsidiary of Panasonic Electric Works (now Panasonic Corporation) in 2007. It is one of the largest domestic manufacturers of electrical construction materials with six manufacturing units in 4 locations and boasts of 34 domestic offices and has employee strength of about 9000.
Its sales and operating profit are steadily growing, and it ended the last financial year with net sales in excess of INR 34,000 Million. It has a dominant market share in Wiring Devices, and it is constantly expanding its product range and growing market shares in Switchgears, Wires, Cables & Tapes, Conduit pipes, Lighting, Solar, Housing, Power Tools and Indoor Air Quality. Panasonic Life Solutions India Private Limited aims to double its turnover in the next three years through existing and new product categories.
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