Syska Group, a home grown brand, has appointed Amitabh Bachchan as the brand ambassador as the company has entered the wires and cables segment in India. The company has already been bringing innovations in the LED Lighting, mobile accessories and personal care appliances market. Bachchan has been roped in for the wires and cables business with campaigns to kick start on television screens soon.
Syska Wires and Cables is targeting a revenue of Rs 500 crore in FY18-19. Along with setting up a manufacturing unit, Syska will make an additional investment of Rs 30 crore in the next three months on aggressive marketing campaigns from this month for the launch of wires and cables business.
The company plans to use its extensive network of 600 distributors and over 1.1 lakh retailers across country to push its cable business. To begin with, it will enter the wires and cables sector in the west region and will later spread over to pan India.
With the aim to support the government’s initiative of Make in India, Syska has made a further investment of Rs 75 crore to set up the fourth manufacturing plant in Rewari (Haryana). This will be used for manufacturing various types of wires and cables. The plant would employ approximate average of 300 employees in the first phase. The plant at present is manufacturing approximately 6-7 lakh coils a month. At full capacity, the plant would produce over 15 lakh coils a month.
Rajesh Uttamchandani, Director, Syska Group, said, “We can see exponential opportunities for wires and cables business in India. The household wire segment is a Rs12,000-crore market and the segment is expected to boom with growing demand for power and light. This is further fuelled by low penetration of organised players in the Indian market. We, at Syska, are committed to bring to India world-class wires and cables that can cater to the masses. We will continue to contribute towards the make in India initiative of the government and are proud to generate employment under the Skill India initiative.”
The company aims to make Syska synonymous with wires and cables category like it is to ‘LED’. Syska Wires and Cables business aspires to establish a stronger foothold in the Indian market with aggressive marketing and sales strategy, bridging connect with the consumers at the right touch points. For this, the company signed several strategic tie ups and will advertise through print and TV channels, theatre advertisements and mobile platforms.