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OPERATING COMPANIES – INDIA

 
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Singer in India

Singer Asia currently owns 72.4% of the public company, Singer India. Singer Asia has operated in India since 1870.

Singer India’s revenue in 2016 was Rs 3.6bn.

Singer India's strategy is to continue to grow revenue and profit by increasing market share in the domestic sewing market and by significantly growing the appliance business which has vast market potential, a market segment which Singer India entered in 2010. The appliance business sales mix increased from 14% in 2015 to 19% in 2016.

Presently, Singer India sells Singer and Merritt brand consumer sewing machines and other sewing related products to distributors and dealers throughout India and through its own retail network of 50 "Singer" shops (including 16 shop-in-shop) in highly attractive locations in India. Singer has about a 25% share of the Indian sewing market. The appliance line is being sold through a separate network of distributors and dealers, as well as through the Singer shops. Singer India also sells its products through E-commerce/telesales and microfinance institutions. Singer India has a total of 1,324 distributors and dealers.

Singer India assembles a portion of the sewing machines that it sells; sewing machines are also purchased from outside suppliers in India and from SVP. Singer India has commenced exports of sewing machines to other Singer Asia locations.

For additional information regarding Singer India, see the Singer India website: www.singerindia.net and the Singer India public company annual report.