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Philips, the Dutch electronics company, has entered into a partnership with Swarovski, the Austrian cut crystal and jewellery manufacturer, to introduce consumer lifestyle electronics and fashion accessories for women.
The move is a step towards globally positioning Philips as a lifestyle and healthcare company. The move is to involve women as influencers in the purchase of consumer durables and gadgets.
The Philips-Swarovski alliance will launch a range of technology and fashion products for women and develop a new markets by integrating high fashion and technology. Active Crystals, the first range of products targeted towards fashion conscious women, comprise sound accessories and storage devices.
Rudy Provoost, CEO Philips consumer electronics said in a statement, "Philips alliance with Swarovski combines two distinct and strong brands in order to create a unique proposition for consumers. We are combining luxurious design with the practical, everyday benefits of consumer electronics to complement both the brands." The collection will be commercially launched in Asia from August this year through department stores and consumer electronic retail chains.
Commenting on the global tie-up for the Indian market, Gunjan Srivastava, director marketing, Philips told Business Standard, "The partnership is a step ahead to position Philips as a lifestyle and healthcare company. Globally, Philips is known for technology products, which appeal more to men than women. Through this tie-up the company will introduce premium lifestyle and jewellery products targeting the women."
For instance, later this year Philips plans to introduce headphones studded with crystals and other such accessories. In India, initially Philips will introduce the new products in metros through select shopping malls.
In the consumer durables segment too, Philips plans to introduce technologically advanced flat televisions, LCDs, audio and video DVD players that will appeal to the women consumers.
A senior executive from Swarovski India said, "It is an interesting partnership tapping the young consumers between 22-35 years aspiring for premium lifestyle and jewellery products."
Internationally, the durable companies have been associating with fashion, thus taking product design to advanced levels. Earlier this year, LG Electronics, the Korean consumer electronics major, tied up with leading luxury brand Prada to unveil the touch screen mobile phone.
The Prada phones by LG have been introduced in the international markets such as the UK, France, Germany and Italy. Jagdeep Kapoor, chairman and managing director, Samsika Marketing Consultants, said, "The cross category partnerships are fruitful if viewed from the consumer's point of view as the end consumer is the same for the companies. This trend will catch up in India as more people are aspiring for the lifestyle products."
