Russell Hobbs, a popular British brand is aiming to achieve a double-digit growth in sales in the Philippine market over a three-year period.
Local distributor, Tocoms Philippines is targeting growth in sales of at least 10% for Russell Hobbs by 2017. Rising sales are driven by the strong purchasing power of the young segment of the Philippine workforce, the main target market of Russell Hobbs products. Sally Sidani, divisional vice president for international marketing appliances of Spectrum Brands (UK) Ltd, believes it is a lucrative time to launch the Russell Hobbs brand in the Philippines because their products provide a good fit with the Filipino lifestyle, “the Philippines [is] a very important market for us,“ she reportedly told The Philippine Star.
Apart from the growing Philippine population, Spectrum Brands—through Tocoms Philippines—finds the Philippine market to be a hub for company growth due to the high demand for a broad price range of trendy products. This recent move further solidifies the credibility of the Philippine market to provide established brands, local or foreign, the opportunities to invest and grow healthily within a short span of time.
The URL of the full article is http://www.philstar.com/business/2014/05/08/1320462/local-distributor-uk-appliance-brand-aims-2-digit-sales-growth