In India, Polaroid has an exclusive license agreement with Powerful Technologies Private Ltd., to assemble and manufacture the LED TVs and monitors in their Noida facility.
With an aim to consolidate its presence in Indian TV Segment, Polaroid’s authorized India’s Licensee Powerful Technologies Private Ltd., has partnered with Staunch, leading omni- channel distribution player. Staunch will play a pivotal role in accelerating Polaroid’s digital retail presence in India.
Entered in Indian Market in 2017, Polaroid is planning to expand its product portfolio with the launch of its new range of Smart TVs, within the price range of Rs. 7,499 – Rs. 1,40,000. Along with expanding its physical presence in India through tie-ups, Polaroid is aggressively looking to be truly omni-channel by expanding its online retail presence.
Commenting on the tie-up, Nitin Chhabra, Director, Powerful Technologies Private Ltd. said “India Smart TV Market is estimated to be growing at a CAGR of 30.2% during the period 2018-24. Seeing the immense scope in the category, Polaroid aims to scale its online presence to expand its reach to customers who do not have access to offline channel. We are expecting a 30% growth from ecommerce channels for our range of Televisions”
“Staunch, in the last few years has grown rapidly to become market leader in omni-channel enablement, and we are confident that their expertise will play a significant role in accelerating our online retail growth,” he further added
Commenting on the same, Kartik Agarwal, CEO, Staunch stated “We are glad to be a key enabler in strengthening the online retail presence of Polaroid. The flourishing online retail market is a catalyst that has been successful in boosting the growth of Consumer Electronic industry in India. Ecommerce has especially been instrumental in aiding brands reach across smaller cities and towns where they are not physically present of yet.”
“We have speared headed online businesses for many traditional as well as global consumer durable clients. With our expertise, we are sure to double up the sales of the brand” he further added.