Fujifilm says Instax business to grow 50 pc this fiscal

Mumbai, Feb 4 (PTI) Japanese multinational conglomerate Fujifilm on Tuesday said its instant camera business Instax is expected to grow 50 per cent this fiscal on the back of robust performance seen in the first three quarters amid rising demand.

Fujifilm India, which earlier in the day announced the launch of its high-end hybrid instant camera 'instax WIDE Evo' in the presence of the company's brand ambassador and Bollywood actor Kartik Aaryan, here, also said that it is aiming to expand the retail network to 5,000 outlets by the end of March next year.

The premium edition of the latest instant camera priced at Rs 47,999 will be available at retail stores and online marketplace from February 20.

"The Indian economy is booming and population wise India is one of the youngest populations around the world. Coincidentally, the (Instax) product category is also such that it attracts younger Gen Zs and millennials. So, that makes it apt for Fujifilm as a brand to do a big business in India and that's what is happening over the period of last 3-4 years," Head of Instant Photo System (Instax) division at Fujifilm India Arun Babu told PTI.

Besides Instax, Babu also heads the electronic imaging and optical devices division of the company.

Describing India as a very prominent market for Fujifilm, Babu said the Instax category has been growing drastically, almost giving a 50 per cent year-on-year-growth.

"In the first nine months of this financial year, we are almost at a 60 per cent growth in this particular category. So, we anticipate that similar kind of growth will continue.

"The category is expecting to wrap up the fiscal 2024-25 at 50 per cent, he said.

Prior to mid-2021, he said, Instax category was predominantly led or handled by online channels only and there were a very few retail networks. Since then the company has added 3,000-plus retail outlets.

"We are also targeting to go further as we are aiming for over 5,000 retail outlets in the country (with additional 2,000) coming up by March next year," Babu said.

Emphasising the need to have a brand ambassador for a product, he said apart from physical stores, the company deals with online platforms such as Amazon, Flipkart as well as quick commerce channels including Blinkit and Zepto, our own website, besides different other portals like Myntra and Nykaa.

"So, when you deal with such a big network, you need to have manpower, you need to have a big infrastructure, you need to have a big brand appeal to make customers walk into the stores," he said.

Fujifilm India had in June last year announced onboarding Bollywood diva Kriti Sanon and Aaryan as its brand ambassadors for its Instax business in India. PTI IAS HVA