Mumbai, India (PressExposure) July 16, 2009 -- While businesses around the world are looking at strategies to weather the global financial crisis, one Australian company is capitalising on it and expanding its international business.Cartridge World the world's largest cartridge refilling retail chain (with over 1700 stores in 51 countries) has crossed the 60 store mark in India in just two years after entering the market.It is now amongst the fastest growing countries in the Cartridge World global network.
Dramatic cost saving measures undertaken by Indian organisations following the economic downturn has seen business boom, according to master franchise representative and Cartridge World's South Asia CEO, Naveen Rakhecha.
"Printer cartridges are not discretionary items; businesses need to print no matter what. In the past 6 months, we've seen a significant increase in bulk enquiries from large Indian companies looking to cut costs.The Indian market for cartridges is estimated at A$921 million (Rs 3,000 crore), and growing at 20 to 25 per cent annually. We hope to garner about seven to eight per cent of the market by 2010," he said.
Mr Rakhecha said reusing printer cartridges was not a new concept in India, but the guaranteed quality of the refilled product was the factor behind Cartridge World's success.
"The (refilled cartridge) sector was largely unorganised before Cartridge World entered India. Customers previously had to choose from cheap, poor quality refills or expensive new original cartridges. Cartridge World has bridged that gap with a refilled product of quality comparable to a new cartridge at about half the price," he said.
Cartridge World plans to expand to 250 stores across the Indian sub-continent by 2011.They are exploring expansion opportunities in Bangladesh, Bhutan, Nepal, Sri Lanka and The Maldives. Mr Rakhecha said the rapid expansion of the network could be partly attributed to growth in entrepreneurship, stemming from job insecurity in the current economic climate.
Cartridge World was established through a master franchise with pioneering Indian express and logistics network, AFL India Private Limited. AFL India has previously established global brands such as DHL and Western Union in India.
According to Mr Rakhecha, Cartridge World's reputation as world leader in the field, proven international experience and transparency in doing business were crucial for the partnership. Additionally, Cartridge World promoted green consumerism without penalising the customer, he said.
"While most environmentally friendly measures tend to cost customers more than conventional options, with Cartridge World refilled cartridges customers can actually save big on costs," he said.