Philips extends PE's brand license agreement
Electronics brand Royal Philips on Monday announced that it extended its brand license agreement with PE Electronics Ltd. (a Videocon Group company) for the television business in India till December 2017 and with the option to further extend thereafter.
PE Electronics will continue the development, marketing, sales and after sales service activities for Philips Televisions in the Indian market for the extended term.
In Sept 2010, Royal Philips entered into an exclusive brand license agreement with PE Electronics.
"Since then PE Electronics has greatly contributed in establishing a sound base for Philips televisions in India, while upholding Philips values across all touch points and it is to this effect that Royal Philips would like to extend this partnership further till 2017 and with the option to further extend thereafter," said Andy Mintz, Senior Vice President and Head of Global Brand Licensing, Royal Philips.
"Philips has full confidence that PE Electronics Ltd. will continue forth with a strong Philips television lineup, innovative marketing and excellent consumer care, and that the growth of market share in India will continue. This will enable the brand license partnership between PE and Philips to be long lasting, providing continuity for customers and consumers," he said.
"We are glad to have PE Electronics as a television brand license partner," said Philips India CEO, Rajeev Chopra.
"This partnership will help Philips to further enhance its brand position in the TV space in India and surge to newer heights in this category. We look forward to continuing this relationship with PE to deliver excellence like it has till now, to further boost Philips as a major player in television in India," Chopra said.
"The Philips brand is part of our strategy to deliver premium products to consumers in India" said Saurabh Dhoot, Director, PE Electronics.
"PE Electronics has already established itself as a strong player in the Indian television market in less than 3 years of operations and the license extension will ensure continuity of the Philips TV brand on a long term basis. We will continue to invest in an excellent TV product portfolio, compelling marketing campaigns and the best consumer care. PE Electronics is committed to deliver the best television propositions to the consumers in India," said he.
(Posted on 17-09-2013)