The growth of India's smart accessories and audio products market in recent years has been phenomenal. With the boost in demand of speakers, wearables and hearables, there are huge opportunities for tech brands currently in Indian market. Gizmore is one of those brands that has won the trust of the customers by offering good quality products at affordable price points. In recent years, the company has cemented its presence across India and caters to the growing consumer demand through its wide range of products. Rajeev Ranjan, Editor, DT interacted with Mr. Sanjay Kumar Kalirona, CEO & Co-Founder, Gizmore. Read the excerpt below to know more:
Rajeev: Please tell how Gizmore, as a brand, has established itself in the hyper-competitive Indian market.
Sanjay: In a short period, Gizmore has established itself as one of the leading technology, lifestyle, and fitness brands. The Indian market is price-sensitive, and the consumer is spoilt for choice. We were able to assess the need gap that existed and make a mark in the affordable premium category. We first concentrated on fitness products before expanding into the audio device market. While the Indian market was full of many brands, there existed a need for a premium, affordable brand, and this is where Gizmore stepped in. We aim to make intelligent accessories, music, and lifestyle goods accessible and affordable to anybody seeking high-quality, fashionable devices. As a newcomer to the market, we had to confront several obstacles. Many manufacturers and original equipment manufacturers in India still lack technical skills. SKD assembly is less expensive than CBU imports.
Today, we have been in this industry for more than four years and have made space for ourselves in the hearts and minds of our customers. In addition to our offline presence, we have partnered with Flipkart to make our products accessible to the masses.
Rajeev: What is the USP that helps you to stay competitive?
Sanjay: The Indian market is home to many homegrown brands. However, thanks to our products' premium look and affordability, we have established ourselves as a homegrown, budget-friendly fitness and home audio brand. The company is committed to introducing ultra-modern products to the segment. All our products are created for the Indian youth, who strive to better their lifestyle through technologically advanced, attractive products. Our brand's objective is to make sleek-looking, technologically advanced devices that are accessible and affordable. We were quick to ascertain the need gaps that exist and launch products that the consumers were demanding.
The response to our launches has been phenomenal. We have achieved a pan-Indian presence in a short period due to our capacity to make accessible the most cutting-edge lifestyle products with creative yet practical technologies. We will continue to prioritise it.
Rajeev: What sort of strategy do you follow to grow together with your channels? Do you have any plans to add more partners in the offline segment to expand your reach?
Sanjay: With our channel partners, we use several marketing strategies and provide technical, sales, and after-sales support. The goal is to draw clients and persuade them to buy our goods. This required us to look beyond the offline medium we have been using up till now. Today, we operate throughout India, are available in more than 200 cities, have more than 100 employees and 200 distributors, and are sold at more than 15,000 retail locations. With more than 25 service representatives on staff, we can ensure that every complaint is handled appropriately and resolved.
We plan to increase our network's coverage across India, especially in the east and south, where we have seen a lot of consumer interest. And we'll supplement our presence in the offline market with online space. We have an intriguing lineup for the Big Billion Day Sale and an exclusive partnership with Flipkart. We want to grow both offline and online networks at Gizmore. We are putting effort into building our D2C brand.
We also collaborate closely with our Indian OEM and manufacture all our products in India. Our OEM partners receive complete software, hardware, and know-how support from us.
Rajeev: What is Gizmore’s roadmap to become the best brand in India’s wearable market? How does your R&D team work towards developing cutting-edge products?
Sanjay: Digital progress coupled with an excellent CRM is essential for success. Our R&D efforts have resulted in the creation of superior, more inventive items with cutting-edge features that are reasonably priced. Today, with duty benefits now in effect, we believe that as a brand, we have an advantage with the 'Make in India'" initiative as we operate from the heart of India (Delhi) and are affiliated with numerous factories in the area, which has also helped our business and sales.
Rajeev: What are your upcoming plans to boost your Make in India commitment? How has this initiative helped you to sell India-manufactured products?
Sanjay: When we began operations in 2018, most of our items were imported. However, when the Indian government announced the Make in India initiative, we decided it was time to begin producing our products in India and become self-sufficient. As soon as the government announced the SKD laws and tariff benefits for accessory segments, we began relocating our manufacturing operations to India. We started with cables, headphones, chargers, and power banks before moving on to speakers. Today, we manufacture most of our hearable and wearable devices, over 80% of our speaker range, in India, which has helped us reduce expenses. We are collaborating closely with OEM and providing them with the necessary resources to ensure their success.
Rajeev: The much-awaited festive season is around the corner, so how are you preparing to bring consumer-oriented products in the upcoming months?
Sanjay: We plan to launch five to six exclusive models of smartwatches this festive season. All of them will be unique and have something new to offer. We will soon launch a classic, upscale-looking smartwatch with an AMOLED Always on Display. There are also plans to launch smartwatches with increased memory and a camera. During this festive season, we will also be launching a premium line of TWS and neckbands this festival season. Our distribution channel has been the backbone of our success. We will be growing our distribution network and expanding as a direct-to-consumer brand.