Manish Gupta – Director, Gizmore
Domestic mobile accessories manufacturer Gizmore specialises in home, mobile, laptop, fot, audio and fitness categories. The company is moving forward with a mission to bring smart accessories among technology and lifestyle products; accessible and within the reach of everyone. It has now gained a man India reach with the capability to reach 20K WOD (width of distribution) in the mobile and smart accessory segment through 500+ partners spread across India. In an e-mail interaction, Manish Gupta, Director, Gizmore told Vivek Singh Chauhan about the company’s vision, futuristic growth and their upcoming products. eere are the edited excerpts of the interaction.
What is the strength of Gizmore? The strength of our company lies in our wide range of innovative yet functional products. Gizmore primarily deals in four categories
-- power, music, fitness and connectivity. From wireless chargers, headphones, sports neckband to powerful power banks, Gizmore offers it all.
Capability to reach 20K WOD in mobile and smartphone accessories segment through 500+ partners spread across the Indian sub-continent is our prominent strength at Gizmore. We ensure demandbased forecasting and plan to ensure regular stock flow in the channel. We believe in punctual yet transparent operations in terms of field-force management and scheme distribution. We operate in a team of professional, experienced and dynamic management leaders complemented with indispensable young manpower.
Ever since the beginning, our core management team has been aware of the industry’s trends and customer’s preference that has helped reinforce the brand through the introduction
of new gadgets.
Tell us about your product range? Gizmore offers a complete range of smart
accessories ranging from mid to premium segment. In the music and entertainment category, we offer portable Bluetooth speakers, wireless sports neckbands, wireless headphones, wireless earbuds, hands-free kit and more. In power product category, we provide our consumers with exciting power banks, adapters, car chargers, data cables, etc. Whereas, in fitness vertical, we are unveiling our fitness range by July end including fitness bands and fitness watches.
Who are your targeted customers? As our brand’s tagline says, “Gizmore - New age sound”, the target consumers for Gizmore is youngsters of our country. Gizmore as a brand embraces the youth and is keen to launch pioneering product range that lives up to the expectations of the youth of India.
What are the expansion plans of your company in term of new products? India is a youth-centric country so our prime focus is youth-oriented products in the music and fitness category. Enhancing our current portfolio, we will launch a whole new collection of Bluetooth portable speakers comprising of 5 watts, 6 watts, 10 watts,
16 watts and 20 watts. Moreover, we will be unveiling six new models of wireless sports neckbands and hands-free kit. Considering the youth’s demand and preferences, the price bracket of our upcoming ranges will be mid to premium segment. In addition, Gizmore is all set to introduce our new range of fitness bands and watches.
What are your future plans to further grow the channel market in 2019, any particular strategy that you are following? Our future strategies to position the brand efficiently are to expand in terms of geography where we aim at reaching 300+ cities by this year-end and to avail Gizmore’s products at all LFR stores, and all e-commerce websites. For smooth retail in South markets, Gizmore has tied up with Pai International that has a chain of 208 stores all across Karnataka, Andhra Pradesh and Telangana. In addition, Gizmore has associated with Hotspot and Landmark by TATA as their retailing partner.
How do you see online business as a future? In the era of swift-scrolling multi-screen users, products exhibited in every corner, and revolutions in technology, online retailing is a rage amongst buyers. It is an ideal way to stand out and catch the eye of target consumers effectively, within no time. If a few years back technology brought the shopping information on the laptops, today it brings to your doorstep. Usage of the Internet for buying products online has only added to an entirely new perspective to shopping. Considering the same, products by Gizmore are buyable on e-commerce channels such as Amazon, Flipkart, etc.
As a brand, what are your priorities at the moment? At Gizmore, our aim is to become a leading brand in the technology and lifestyle space that’s valued and trusted by customers. Our chief focus relies on delighting our customers with innovative products that are the watchword for great value, reliability and trust within an affordable price bracket.
What is your business model and how will you generate revenue from this? Offline retailing is our chief focus to generate revenue. Being a new brand in this industry, our primary focus is to establish as a brand in the market with new product innovations and value for money products. Currently, we are retailing our products with an omnichannel approach via retail chains, e-commerce websites and offline stores.
What’s the year-on-year (YOY) profit growth of the company? As a new entrant, we are focusing on reinforcing the availability of Gizmore’s products all across India. Currently, we are striving to create a mark in the smartphone accessories market with uncompromised quality and revolutionary innovations in our product segment.
When is the big growth likely to happen? Initially, we are targeting offline market wherein products by Gizmore are available in 100+ cities. Our goal is to go live in 300+ tier 2 cities in the next six months.
“Gizmore as a brand embraces the youth and is keen to launch pioneering product range that lives up to the expectations of the youth of India”
How is the sector evolving and what is the way forward in the coming years? The demand for smartphones and mobile accessories are rising in equal proportion. Smartphone accessories are as significant as a mobile phone in our day-to-day lifestyle. Many of us would find it difficult to survive without a mobile phone and a bare minimum set of accessories. Be it power banks, earphones, headphones or smartwatches, these accessories are a must-have these days. Hence, this market which is growing by leaps and bounds year-on-year is hard to ignore.
A recent study on the mobile phone accessories market in India revealed that the rapid increase in sales of mobile accessories is directly proportional to the sale of smartphones in the country. The mobile phone market is expected to grow at a CAGR of 2.6 percent from the period of 2014 to 2020. Consequently, the mobile phone accessories market would also continue to grow and is expected to reach $107.3 billion by 2022.
Today, the market is dominated by smart gadgets, each one serving a different level of convenience and purpose. Therefore, we at Gizmore are coming up with groundbreaking products for consumers keeping in mind the affordability factor. ■