Hyderabad: Netherlands-based Signify (formerly Philips Lighting), a lighting solutions provider, is betting big on smart lighting category with the increase in demand for smart home automation systems in cities like Hyderabad. To cater to this demand, the Company will be launching 180 Philips smart light hubs across India over the next two – three years.
With the launch of a new store in Hyderabad on Wednesday, Signify now has 320 exclusive franchise stores in India, of which over 20 are in Telangana and Andhra Pradesh. Speaking on the launch, Raja Moudgil, Business Head India – Smart Homes and Switches, Signify India, said: “Hyderabad is one of the fastest growing cities across the country. We have four stores in other parts of the city, including one in Jubilee Hills. As we witnessed new homeowners purchasing premium properties in East Hyderabad, we opened our 5th store in Nagole.”
He went on to say, “Out of our total South India sales, about 15 per cent comes from Telangana and Andhra Pradesh. Our sales here are growing more than double compared to other South Indian cities as residential property sales are booming in Hyderabad.”
Signify has 15 Philips smart light hubs in Chennai, 20 in Bangalore, and 21 in Delhi. Moudgil informed that they have larger presence in metros. He added, “In the last 15 months we have opened about 60 – 70 stores across India. We want to reach 500 stores in the next two – three years. As premium residential projects are coming up in smaller towns, we will strengthen our footprint in cities like Hisar and Kochi, too.” Out of 400 products in its portfolio, Signify has nearly 50 products under the smart lighting category. When asked about the demand for smart lights and its market share in India, Moudgil said, “We hold the largest market share in India and also globally. The smart lighting category contributes 20 per cent sales in the total lighting industry in India. While this category is growing at an annual rate of 25 per cent, Signify is growing ahead of the industry growth. Last year our smart lighting portfolio grew by 47 per cent, and this year we are growing by 45 per cent.”
He informed that in the next two – three months, Signify will be launching its connected smart lighting portfolio in the decorative
lighting space.
