We are excited to present Skyball, an emerging consumer electronics brand that is making its debut in the market with its wide range of innovative products. Skyball is the brainchild of Videomax International Pvt. Ltd, a well-established group with a remarkable 30-year legacy in the OEM business. With a strong commitment to the “Make In India” initiative, Skyball is on a mission to provide discerning customers with superior experiences at an affordable price point.
In an era where technology has become an integral part of our lives, Skyball sets itself apart by focusing on innovation and smart design. The brand’s product portfolio includes home audio systems, smart accessories, and a wide range of consumer electronics. Each Skyball product is meticulously crafted to deliver uninterrupted performance and power, ensuring a seamless experience that surpasses customer expectations.
Join us as we explore the world of Skyball and discover how this brand is revolutionizing the consumer electronics market and to make Skyball a prominent player in the market as we interacted with Mr. Vinay Kapoor, CEO & Co-Founder of Skyball, in this exclusive interview .
Q. How are brands making it easier for consumers to choose audio speakers according to their specific
needs/goals?
Brands are actively working to make it easier for consumers to choose audio speakers based on their specific needs and goals. As consumers are well aware of their needs, it becomes important to offer a wide range of products.
For instance, if a consumer is looking to enhance the sound quality of their LED TV, they would look for a sound bar that can be conveniently connected to the television to provide a better audio experience. On the other hand, if a consumer intends to purchase speakers for outdoor parties or gatherings, they would go for a trolley or outdoor speakers.
By considering these specific points and understanding the diverse needs of consumers, brands ensure that their product offerings align with the different audio requirements and goals of their target audience. This enables consumers to make informed decisions and choose the audio speakers that best suit their preferences and intended use cases.
Q. What challenges are faced by brands deciding the price of their product in the market?
Brands face several challenges when determining the price of their products in the market. With audio products spanning a wide price range from Rs. 400 to 50,000 on online platforms, it becomes particularly daunting for new brands to establish themselves.
As a new brand, Skyball aims to overcome this challenge by offering consumers the best sound quality at an affordable price. By providing a compelling value proposition, Skyball seeks to differentiate itself in the market and attract customers who prioritize both high-quality audio and affordability.
Q. What is your current market size in India? How much market share do you intend to capture by
2024?
We recently launched our products on Amazon on May 21, 2023. Our focus is on delivering high- quality products, establishing brand loyalty, and gaining customer trust, which we believe will contribute to capturing a substantial market share in the coming years. We are targeting a turnover of INR 100 crore in FY24 for Skyball. Around 40% of Skyballs reve’nue is expected to come from the audio category and 60% from the smart accessories category.
Q. What market share does Skyball is targeting in the audio segment?
The Indian consumer electronics market is expected to reach $124.94 billion by 2030, expanding at a CAGR of 6.5% between 2022-2030. The audio segment is a significant part of this market and offers significant growth opportunities. In terms of our projections, we aim to achieve a sales target of INR 40 crore specifically in the audio category. This indicates our aspiration to establish a robust presence. We aim to achieve this by offering high-quality audio products, competitive pricing, and a strong focus on customer satisfaction.
Q. What’s the Growth rate/What is your target growth? Expansion plan
Our target growth involves the creation of 500 channel partners across India by 2024. This expansion plan aims to establish a strong distribution network and increase our market reach. By partnering with these channel partners, we aim to enhance our product availability and accessibility to customers in various regions.
Q. What is your product range focus for the future?
Our product range will primarily focus on party speakers, Bluetooth speakers, and sound bars. These categories have demonstrated significant demand and offer versatile audio solutions for different settings and purposes. By focusing on these product categories, we aim to meet the evolving needs and preferences of consumers, providing them with high-quality audio solutions that cater to various occasions and environments.
Q. Tell us something about recent foraying into the home audio segment.
Our recent foray into the home audio segment builds upon our extensive experience of over 30 years in the consumer electronics industry. With a strong foundation in sourcing, sales, manufacturing, and product development, the team is well-equipped to venture into this segment.
Our primary focus is on increasing the share of indigenous manufacturing, as we believe it is beneficial for our society and domestic supplier base.
Having served as an OEM supplier for several years, we have gained control over the quality and pricing of our products. This control allows us to build a compelling offering for consumers, ensuring both high quality and competitive prices. By leveraging our expertise and emphasizing indigenous manufacturing, we aim to contribute to the growth of the home audio segment while delivering value to our consumers.
