LG Electronics launched its X-Canvas studio on March 25, 2004 in Chennai. The X-Canvas Studio is a destination store for audio-video enthusiasts who are looking at high-end premium products that are not sold through regular retail channels.
These studios are already present in Mumbai, Delhi, Kolkata and Pune. The studios showcase an entire range of LG Plasma televisions (42, 50 and 60 inches), LG’s home theatre projectors, amplifiers from Onkyo and speakers from B&W. LG has tied up with Onkyo and B&W to offer the best in audio visual technologies aiming to provide the consumer a one stop high-end audio-visual solution.
Prasanna Raghavan, Product Group Head, LGEIL, said, “Through X-canvas, we intend to target a niche group and give them an experience store creating a direct relationship with the consumer. Our range includes options for a home theatre system as well as industrial display units. We cater to both these segments.”
In the year 2003, about 4,000 units were sold and LGEIL expects to increase the count to about 13,000 –14,000 units in this year. Delhi is the strongest market for these premium electronic products followed by Mumbai. LGEIL expects about Rs 100-crore turnover in 2004 and would spend about three to four per cent of it in advertising and promotions. The group is expected to get involved in golf tournaments, live performances, standup comedy shows and the likes as part of its promotional activities.