“We Were Hoping to Touch Rs 100 Crore In Revenue In The Financial Year 2022-2023”

“We Were Hoping to Touch Rs 100 Crore In Revenue In The Financial Year 2022-2023”

Gizmore has been expanding its product range to cater to the ever-growing needs of Indian customers. Their presence has grown huge across regions and has helped them to reach out to a larger audience. Its products are innovative and always remain in-demand among all set of customers. The brand has achieved various milestones during its journey so far. In a recent conversation with DT, Sanjay Kumar Kalirona, CEO and Founder, Gizmore shared important details about company’s growth, product offerings, market scenario, challenges and a lot more.

DT: Please share Overall Performance in Year 2022

Sanjay: 2022 has been a learning year for us at Gizmore. We have been consistent with our efforts and have been rewarded suitably. We were hoping for a more bullish growth trajectory and have been able to record steady growth. The festive period has been enriching for us, with our recently launched smartwatches getting immense love from the customers. We launched the GIZFIT Glow with Always on AMOLED display just before the festive season and it would sell out in no time. During the sale days, we had to constantly work on updating our stocks. We continue to perform well even in the home audio space and register positive growth.

We started 2022 with a resolve to pivot our channel strategy. Having established ourselves in the offline market, we have been looking to carve a niche in the online segment. Gizmore has tied up with Flipkart for its recent launches, and our share from the online segment has grown tremendously compared to the previous year. 

DT: Please share target revenue or growth percentage to achieve by end of 2022-23.

Sanjay: Now that the pandemic is a thing of the past, we had set an ambitious target for the current year. We were hoping to touch Rs 100 crore in revenue in the financial year 2022-2023. We are confident that we will be able to achieve 80% of our target.

DT: What are some key features that make your brand better than others?

Sanjay: Gizmore is a home-grown brand that has focused on premium-affordable products. We identified the need gaps in the market and offered the right product mix to Indian consumers. In the post-pandemic world, there is an increased focus on wellness, and our smartwatch range is helping consumers manage their health better at affordable prices. This year, we have also onboarded Dinesh Karthik as the brand ambassador. A cricket par excellence, Karthik has a considerable youth connection and has helped us fortify our positioning as a youth and health focussed brand.

We are working towards and adapting sustainable packaging solutions as well. For smartwatches we have already adopted reusable and recycled tin packaging solutions, soon other SKU will also follow in other sustainable material thinking about climate and environmental impact.

DT: How do you take care of channel margins & profitability?

Sanjay: The current geopolitical situation has had a significant impact on profitability and margins. The Russia-Ukraine war, fluctuation in the dollar prices and supply chain constraints caused by China’s zero COVID-19 policy have impacted all players in the segment, and we are no different. We are very fluid with our approach and constantly on our toes to find the best possible solutions. We are always looking to work with Indian vendors. Over time, we have partnered with many Indian vendors, and together we continue to work on optimising the cost and offering maximum value.

DT: Please share your bonding with channel community.

Sanjay: Our channel partners have been our backbone. We have nurtured our relationship with them and won their trust. For the channel community, the dealer is the first customer, and we believe in having a good connection and relationship with them. Our motto is to go beyond margins and have mutual trust and understanding. We also focus on offering timely service to our customers. We engage with our channel partners on a frequent basis and have a dialogue with them on their needs and challenges. At Gizmore, we believe personal connection with a consumer can go a long way.

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