Mobile phone accessories have become essential gadgets for any smartphone user today. It is estimated that this market will be of INR 25,000 crores by 2023. This lucrative potential is the driving factor that many established electronics brands and even new home-grown brands have forayed into mobile accessories manufacturing and marketing in India. We had the opportunity to interact with Mr. Pawan Kumar, CEO of Elista, who talked on the brand’s journey and their foray into this emerging sector.
Here’s the excerpt from the interview:
Q. Tell us about your brand’s inception journey, and its foray into the mobile phone accessories market?
At Elista, the philosophy that we follow is that there is always a way to improve customers’ lives. Adhering to this, we have been pushing the boundaries to create value for money consumer electronics devices with superior functionality.
We started our journey in 2020 with Smart TVs and soon forayed into washing machines, coolers, refrigerators, dishwashers, IT and Mobile accessories. At present, we have an extensive range in the segments we operate in.
In mobile accessories, we are focusing on the wearable audio range – wireless and wired. We have established ourselves well in this category as our products have great sound quality.
Elista is also a staunch believer in the ‘being vocal for local’ initiative and working towards creating employment possibilities in India. Through our consistent efforts, our vision is to bring India on the world map for innovation.
Q. What is your USP that differentiates the brand from the rest?
At Elista, we focus on providing the best sound quality in the category with true wattage. Our distinctive design philosophy and focus on quality distinguishes us from the others. We are working on offering a great range of products and best in class quality to our customers. Elista is aligned to India’s ‘Atmanirbhar’ principle of manufacturing and all our products are made in India. We are in the process of scaling our manufacturing in the country, and looking to inspire other global brands to manufacture in India for not just their domestic needs.
Q. Kindly share your growth journey over the last few years, the challenges you overcame, and the product segments that drove your growth.
We started our journey in 2020. It was a difficult year to start operations with the pandemic raging. Despite the pandemic and lockdowns, we achieved a turnover of Rs 185 crores since our inception. Out of this, we clocked Rs 145 cr last year. Smart TVs and washing machines drive the significant chunk of our growth.
Q. What are the key market segments you are targeting, and what are your new product line and market expansion plans for the coming years?
We have established ourselves in Tamil Nadu, Karnataka, Maharashtra, West Bengal and Gujarat and looking at consolidating our position in these markets. In the mobile accessory market, we are working on introducing a new line of BT speakers and sound bars. Our endeavour is to offer an outstanding musical experience and give the best in the segment in terms of music output.
Q. What is it that an Indian consumer seeks from a product today? And how as a brand you are innovating and catering to such consumers’ demands in the mobile phone accessories market?
Consumers today are looking for technologically superior products that are relevant to them. Another major ask is that the products are value for money. The replacement cycles have shrunk and consumers are looking to upgrade their products at a faster rate. At Elista, we strive to offer consumers with products that are best in quality, feature-packed and at pocket friendly prices.