Market is highly competitive with the presence of many big and well-established names. How do you plan to The Indian television competes with these mega brands?
Well as such there are no challenges that we are facing as the market is wide open and very accommodating. We offer superior technology and design at best cheapest price scale. And, if we talk about the industry then bigger television screens have always been much sought after. With a surge in consumers' disposable incomes, the demand for Smart Televisions has shot up, contributing around 18-20 percent to sales in India's electronics sector. India's television industry is expected to expand to $16.8 billion by 2020 from $9.4 billion in 2016. There is humongous demand and Abaj is all set to cover the entire spectrum.
Tell us about your diversification plans into other product segments beyond television.
LED Televisions has been the primary focus of the brand. The company currently sells over 20 models of LED televisions. The home-grown company is now expanding its product portfolio. After ruling Indian living rooms with LED TVs, the ‘Ultimate Life's Things' brand, Abaj is now betting big on the consumer electronic market with plans to launch air conditioners, washing machines, smart sound bars, refrigerators and many other technologically advanced products. We are constantly extending our portfolio focusing on innovation and technology that's why we call Abaj - Ultimate Life's Thing.
Your aim is to make Abaj a Rs.100 crore company by 2020 from the current turnover of Rs.60 crore. What is the strategy to achieve this growth?
We are working on continuous technological and design innovations. Launching more consumer-friendly products has been the key to the success of the Brand and this would be our primary strategy for growth.
To fortify our presence, Abaj has set up a network of 75 distributors and 1400 dealers. The company further plans to add 150 distributors and 3000 retailers by 2020. The products will also be available online. The company also plans to sell through institutional sales network and modern sales.
Abaj is currently operating in eight states Gujarat, Maharashtra, Punjab, Chhattisgarh, Uttar Pradesh, Madhya Pradesh, Rajasthan and Tamil Nadu. Further, the company will be expanding operations in all major metro and non-metro cities including Karnataka, Andhra Pradesh, Maharashtra, Kolkata, Bihar, Jharkhand, Greater Punjab and Delhi NCR. The company intends to be present across India by the end of the year.
The company is growing at 259 percent annually and clocked revenue of over Rs.60 crore last fiscal. It is expecting a turnover of Rs.150 crore by 2018-2019.
Manufacturing is not an obvious option when it comes to entrepreneurship in India. What advice would you share for budding entrepreneurs?
I can share two fundamental principles that I have believed in:
- Don't view challenges as hurdles
- Believe in your instincts.
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