These days the demand for IT and mobile accessories is rising sharply which has forced tech brands to bring more innovative products. On the other hand, home appliances and electronics products are also in huge demand. There are various brands in these domains that are competing to gain the leading edge in the Indian market. Due to immense opportunities, this market is very competitive but the success of any brand depends on quality and affordability. Elista is currently one of India's leading electronics, home appliances, IT, and mobile accessories brands. The company has achieved an outstanding growth in last few years in Indian market. Rajeev Ranjan Publisher & Editor, Digital Terminal recently held an exclusive interaction with Ajay Singh, Director (Sales), Elista. He shared crucial insights about their offerings, market landscape, service support and etc. Read below the complete interview.
Rajeev: How do you see the growth of the brand Elista since its inception? What are the major achievements in the previous FY?
Ajay: We have experienced significant progress and expansion in a relatively short period. The revenue reached Rs 35 crore during the first year of operation which further zoomed to Rs 158.8 crore in FY22 and Rs 200 crore in FY23. Another noteworthy accomplishment of the previous fiscal year was the brand's international launch in the UAE and our foray into Smart TVs powered by WebOS TV. This move reflects our commitment to staying at the forefront of technological advancements and catering to the evolving needs of consumers.
Rajeev: Which are the major product segments that you are focusing on this year?
Ajay: This year, our major product segments of focus include Smart TVs, Audio devices, Smart Gadgets, Chest Freezers, Refrigerators and Washing machines. We have identified these segments as areas of opportunity to meet consumer demand and drive our growth. By prioritizing these categories, we aim to cater to a wide range of consumer preferences and deliver innovative, high-quality products in these specific segments.
Rajeev: What are some of the key challenges that you face currently, especially in terms of manufacturing? What are your plans to overcome these challenges?
Ajay: Currently, we are in the process of setting up a manufacturing plant in Kadapa, Andhra Pradesh, with an investment of Rs 250 crore. We are confident in our ability to overcome any future challenges that we may face in the manufacturing landscape. As always, the focus will be on delivering products of the highest quality to our customers while maintaining operational excellence.
Rajeev: How do you maintain quality and affordability in your products?
Ajay: At Elista, maintaining both quality and affordability in our products is of utmost importance to us. Our Research and Development (R&D) team works closely with manufacturers to curate exclusive products based on consumer insights. This collaboration ensures that our products are designed with a deep understanding of customer needs and preferences, resulting in high-quality offerings that align with market demands.
In addition, we have a stringent Quality Assurance (QA) department that rigorously tests and monitors product quality at every stage of the manufacturing process. We also leverage economies of scale to achieve cost efficiencies. These cost savings are then passed on to the consumers, making our products more affordable without compromising on quality.
Rajeev: How do you offer best-in-class service support to your customers across India?
Ajay: At Elista, offering best-in-class service support to our customers across India is a top priority for us. One of our key initiatives is the establishment of service touchpoints at multiple locations throughout India. These service centers are strategically placed to provide convenient access to customers in different regions, making it easier for them to seek assistance or get their Elista products serviced. In addition to physical service centers, we have set up an efficient customer support system that includes dedicated helplines and online portals. This multi-channel approach enables customers to reach out for assistance through their preferred communication channels, ensuring flexibility and convenience.
To maintain service quality standards, we have implemented an audit process. This process involves regularly monitoring and evaluating the quality of service being provided by our service centers and technicians. It ensures that our service standards are consistently met or exceeded, resulting in customer satisfaction. We also strive to address customer queries, concerns, and service requests promptly, minimizing wait times and ensuring timely resolution. By prioritizing efficient TAT, we demonstrate our commitment to providing timely and effective support to our customers.
Rajeev: What channel strength do you have currently? Are you looking to expand your reach in a specific region?
Ajay: Currently, we have a strong channel presence with over 350 distributors in India. This extensive network of distributors enables us to reach customers across various regions and ensures the wide availability of Elista products throughout the country.
Furthermore, we successfully expanded our reach beyond India's borders with our international launch in the UAE in December 2022. This venture into the international market allowed us to establish a presence in 15+ countries, broadening our global footprint.
While we continue to expand our global reach, we have specific plans to focus on regional expansion within India. We are already present in 300 cities and aim to further penetrate deeper into Tier II and III cities. With the upcoming manufacturing unit, we aim to strengthen our presence in the southern region of India.
