Under the brand name ‘VC’, Videocon Industries plans a major retail foray in the consumer electronics segment across West Asia, Europe, Africa and Latin America. The move is expected to raise the company’s global revenue share from the current two per cent to 50 per cent by 2011.
“The company is weighing the option of floating subsidiaries for the international operations, and creating a new global brand,” said KR Kim, vice chairman and chief executive of Videocon (global operations).
Kim recently assumed office at Videocon after a considerable stint in establishing South Korean chaebol LG in India.
“Videocon earns about $300 million through international operations, with some presence in Europe. In contrast, LG earns about 70 per cent of its revenues from international markets. Keeping this in mind, we will add capacity through organic and inorganic expansion,” said Kim.
The foray is expected to materialise in six months, said Kim.
Videocon already has acquired brands like Nordmende in the European markets. It is likely to introduce the international brand as a premium label in India.
