Checkpoint Systems, Inc., the leading provider of radio frequency-based product identification and shrink management solutions for retailers and consumer package goods manufacturers worldwide, announced the opening of its Indian subsidiary, Checkpoint Systems India Pvt. Ltd, and shared its plans for the Indian Market.
Mr. John Davies, President, Checkpoint Systems, Asia Pacific and Latin America made this announcement at a press conference in the city on December 13, 2005.
"India is one of the fastest growing retail markets in the world and Checkpoint sees an excellent potential here", says Mr. John Davies, President-Asia Pacific, Checkpoint Systems Inc., USA.
"We are not going to miss this enormous opportunity and have already established strong relationships with leading retailers. Our setting up of an official subsidiary here will give us tremendous advantage to serve the blooming market in India and neighbouring countries," he added.
RFID and Smart EAS
Radio Frequency Identification (ID) technology uses devices attached to objects that transmit data to an RFID receiver. These wireless AIDC systems allow for non-contact reading and are effective in manufacturing and other hostile environments. RFID systems can reduce costs by reducing labor, data latency and errors associated with product handling.
SmartEAS provides retailers with an end-to-end enterprise solution to integrated loss prevention management. SmartEAS ties Electronic Article Surveillance, Video, POS systems, and people counting together while delivering real-time intelligence to the store, district, or corporate levels. It's a breakthrough solution that brings together the key elements required to significantly improve loss prevention, security, and operational efficiency.
Checkpoint to address the urgent need of the Indian market
Addressing the audience, Mr. Dharmesh Lamba, Country Head & Regional Manager, South Asia, explained that while the Indian retail market was huge and growing bigger every day (estimated at US$180 Billion) there was still very low penetration in the Organized Retailing space -- estimated at no more than 3 %.
But with more and more Indian and Major International retailers scheduled to enter the market, this was the correct time for stakeholders to seriously consider investments in RF based shrink management solutions that would help them save them crores of Rupees in hidden costs every year.
After providing solutions to some leading retailers in India such as, Pantaloons, Big Bazaar, Central, Marks & Spencer, Ritu Wears, Vijay Sales, Lilliput, Koutons, AND Designs, PALL Mall, A B Jeweller & libraries such as AFMC, NIFT; Checkpoint sees this as the opportune time to set up its base in India. Headquartered in Mumbai, a branch office in New Delhi and a network of distributors in East & South India, the India office will control the sales and service to the growing markets of India, Pakistan, Nepal, Sri Lanka, Bangladesh and, Mauritius. Additionally, it has already started manufacturing activities for Hard Tags which will further bring down the cost of the solutions they provide due to the reduction of duties, freight etc.
With over 30 years experience in the fields of Radio Frequency technology and Smart EAS, Checkpoint offers smart technology solutions to retailers and manufacturers around the world to help them save billions of Dollars through increased efficiency and reduced losses cased by theft (shrinkage) and misplacement of goods along the supply chain. Checkpoint Systems is online at www.checkpointsystems.com.