Here’s the interview snippet from the interaction with Mr. Pawan Kumar, CEO, Elista.
Saumya: Take me on the journey of building into an Elista?
Pawan: Elista came into existence in 2020 with a range of Smart TVs. As we launched the brand in a difficult period when the world was dealing with the pandemic, there were unique challenges like lockdowns and disruption in the supply chain that the brand had to face in the initial period. However, we were able to create space for ourselves reasonably quickly, mainly because of the clear value proposition of introducing technologically superior products at an affordable price point. We also introduced dishwashers soon after that. It was an exciting launch because, till then, dishwashers were considered a product for the rich and did not have mass acceptance. However, our dishwasher followed the same brand mantra of being led by innovation while being affordable and was able to create a mass appeal for the category. Over the last two years, we have launched a wide range of products with two ace cricketers, Suresh Raina and Ishan Kishan, as our brand ambassadors that believe in the brands values. We operate in segments like IT accessories, semi- automatic washing machines, refrigerators, and home theatres. As a result of our persistent efforts, Elista has emerged as one of the most popular brands in the country, especially in Tier-II & Tier-III cities.
Saumya: Since you have been dealing in this industry for more than two years now, how has the market been for Elista for their personal growth?
Pawan: We have seen phenomenal success over the past two years. Segments like TVs, washing machines, and dishwashers have led the brands growth. As we are a part of the TeknoDome Group, which has operated in the consumer electronics industry since 2008, we established our distribution network quickly. This network covers close to 85-90% of India. We are present in over 25,000 outlets in the country, with 1000 distribution channel partners and major online websites. Consumers have faith in our products, and I am happy to say that we have been able to keep that trust.
Saumya: What are the plans for Elista to follow up on the steps of the Great Make in India initiated by the Government of India?
Pawan: We are a big believer in the Make in India programme and the potential of India to be a global manufacturing powerhouse. The initiatives taken by the government in recent years (Make in India, PLI scheme etc.) help create an encouraging ecosystem for manufacturing in the country. We have already acquired a manufacturing license for LED TVs and a range of Home Theatres. We plan to start manufacturing LED TVs and Home Theatres in the next financial year. We are not only planning to Make in India for the domestic market. We have plans to expand to international markets and take the Elista brand global. With a planned entry into markets like Central Asia and the Middle East, we plan to Make in India for the world.
Saumya: What is the current target segment right now in local mediums, and which all segments are you yet to target?
Pawan: We are currently catering to customers in Tier-II and Tier-III cities. Our primary markets are Jharkhand and Bihar. Smart LED TVs as a specific vertical have worked well for the brand. With products ranging from 24 inches to 75 inches, Smart LED TVs contribute almost 70% of our revenue. In addition, our semi-automatic washing machines, from 7 kg to 9.5 kg, are also an important product vertical. As we are present in many product categories, our offerings target almost all segments of consumers. Our primary focus is establishing a robust dealer and distributor network nationwide.
Saumya: What are your current competitors right now, and how do you plan to tackle competition which is ever-growing?
Pawan: As you are aware, Indian consumer electronics is a market with a lot of competition. We rely on our strengths to tackle the competition. We are focused on introducing ground- breaking innovative products to disrupt the market. The technologically superior pocket- friendly products from our stable have been instrumental in establishing our presence in the Indian market in a short period. As we advance, we plan to continue developing innovative and affordable products to expand our customer base. This strategy has played an essential role in establishing a solid reputation for our brand in the target market. We are confident that this strategy will continue to help us stay ahead of the competition.
Saumya: What is the USP of the brand? How do you assure the qualities you provide to all the
customers and businesses?
Pawan: Elista means “Oath of God”. We are driven by this oath to provide the best quality products to our consumers. Today, Elista is a Consumer Electronics, Home Appliances, IT, and Mobile Accessories brand focused on symbolizing innovation of the highest calibre for the consumer. The brand has played an essential role in driving change in consumer behaviour with global design and quality products at a reasonable price. The USP of the brand is the ability to meet rising consumer aspirations without burning a hole in the pocket. For instance, after establishing our presence in the 32-inch, 40-inch, and 43-inch LED TV segments, we recently launched the WebOS TV under the Elista brand. As a result, we do not have to limit our target audience to lower and middle-consumer segments but to all segments. It is expected to increase the growth potential of the brand.
Saumya: As you know, support is pretty much crucial for any product signing segment. How do
you ensure that quality of level?
Pawan: After-sales support is critical for succeeding in the Indian consumer electronics market. It is only one part to get the product mix, distribution and marketing strategy right. The other half depends on the quality of after-sales service. We know the importance of after- sales support for the business long-term success. As a result, we have appointed 300+ Elista partners to handle after-sales support for our products. We offer high-quality products backed by warranty and have established an after-sales network that covers all major hubs in popular cities. For instance, we are currently not present in Himachal Pradesh. However, one of our partners has supplied 30 TVs in the state. We have easily handled installation and other requests from the states customers. This exemplifies our robust after-sales network and our commitment to providing a superior customer experience.
Saumya: What does the future roadmap look like for Elista right now? What is the 5-year plan for
Elista?
Pawan: We are very excited about the future as it is full of opportunities for Elista. Over the last two years, we have established a strong foundation for the brand. We expect to build on this foundation and achieve greater heights in the future. For instance, our sales stood at INR 158 crore in 2021-22, and we have set a target turnover of INR 250 crore for the current financial year. In the future, we plan to achieve a turnover of INR 500 crore by 2025. Apart from driving our presence in the domestic market and expanding the distribution network, we plan to take the brand global by expanding in markets like Central Asia and the Middle East. In the next five years, we plan to have an established distribution and service network covering the entire country and a regular presence in markets like Central Asia and the Middle East.
