British technology company Dyson will invest Rs 1200 crore in India over the next five years. Founded by British innovator and entrepreneur James Dyson, the company manufactures high performance home appliances with revolutionary cyclone technology. To begin with, it has launched three products – cord free vaccum cleaners, air purifiers and hair dryers.
Dyson has received single brand retail license under the 100 per cent FDI route and therefore will open 20 company owned stores in top 10 Indian cities. The company has been testing its products in the Indian market for the last 18 months.
"India has 25 million people with high disposable income and that is a big opportunity for us. China is our third largest market and we would want India to be in that league,” said Jake Dyson, Chief Engineer and Member of the Dyson board.
In a global first for Dyson, it is launching concierge in-home services, meaning customers can ask for a demo at their home.
While the company is currently importing these products from its manufacturing hubs in Philippines, Malaysia and Singapore, it is looking at all possible options including "Make in India". Dyson is currently sourcing 30 per cent of its components from India.
Dyson has launched the products at competitive prices in India, as the company doesn't have to pay huge import duties.
"The import duty on air purifier is 5 per cent whereas on other products it is none, as India has an FDA with Malaysia," said Dyson.
The Dyson cord-free vacuum cleaners start at Rs 34,400, Pure Cool Link air purifiers are priced at Rs 34,900 and the hair dryer is priced at Rs 27,900.
In UK, the company has announced that it will come up with an electric car by 2021. Dyson is also investing heavily in battery technology.
