There is a lot of euphoria at the New Delhi headquarters of consumer electronics giant LG. Over the last few months, the company has been preparing to ramp up its product line inventory to be offered in the current festive season. This year, there is considerable expectation that after a long hiatus of three years, Indian consumers will open their purse strings to shop generously during festivals.
LG’s optimism stems from a rather robust double-digit sales growth in the first half of the year, which was followed by a good showing at the outset of the festive season beginning September. During the 10-day Onam celebrations last month in Kerala, the company witnessed a sales growth of 35-40 per cent, reflected in a business of Rs 1,000-1,200 crore.