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Published on 23/02/2020 4:55:59 PM | Source: IANS

Vizion plans tie-ups with European lighting companies

Posted in Industry News| #India #Industry #Europe

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Architectural lighting company Vizion Lighting plans to build relationships and collaborations with European lighting companies along with expanding the parnership with Indian lighting designers, according to the company's founder and Managing Director Vishal Singh.

He said that the company aims to launch a new collection of lights every quarter, in the upcoming financial year (2020-21).

"Vizion aims to consolidate and expand its collaborations with Indian lighting designers, as well as build new relationships with European peers to stay abreast with the lighting industry's future prospects. With regard to lighting products, we are aiming to launch new collections every quarter," Singh said.

"We have new products in the pipeline, and expect to launch three to four new collections by the end of 2020."

Speaking of the company's financials, Singh said that the company has generated $3 million in revenue by the end of December 2019, and is going strong with a net profit of 20-25 per cent per annum.

He added that the company currently has orders worth $300,000 till March 2020.

Singh said that the company has consolidated its operations in Hyderabad, Bengaluru, Mumbai, Ahmedabad, and Lucknow, and will also soon come up with experience centres in Lucknow and Noida.

"Given Vizion's focus on serving a well-heeled, niche client base, we are seeking to increase our presence in the HNI (high net worth individual) segment."

Established in 2006, the company currently draws 60 per cent of its revenue from the commercial lighting segment and 25 per cent from the retail segment. Residential and hospitality sectors account for roughly 15 per cent of the company's total turnover, Singh said.