Below is a snippet from a brief interaction between IT-Voice and Rajendra Seksaria, Chief Managing Director, Balaji Solutions Private Limited (BSPL) – Foxin:
Prateek: How was the business of Foxin accessories in the year 2021?
Rajendra Seksaria: We had a 100% growth in sales post COVID and there was 45% growth in distribution. People spent most of their time at home working remotely, they were attending meetings online. So there was a big surge in headphone sales and automatically the need for wireless devices like headphones and earphones went up. Foxin witnessed a 100% growth rate in 2021, we had to recruit people across verticals to keep up with the demand.
Prateek: How did it compare to the business in 2020?
Rajendra Seksaria: The past year was certainly a challenge for all of us. The unprecedented situation taught us the importance of adaptation. We could see there was a rise in wearable technology. Several consumers today factor in health as a priority while buying for consumer tech accessories. Therefore, we took it upon ourselves to curate products that cater to such a need. Since most users were working from home, there was an increase in demand as most purchases are seeking for the aspect of functionality and increased capabilities.
Prateek: Which was the most exciting product?
Rajendra Seksaria: We launched Foxfit ACTIVE smartwatch in December 2021, our most recent launch. This was our most exciting product to come out this year.
Prateek: What will be the roadmap for the year 2022?
Rajendra Seksaria: E-commerce was certainly of great help this year. With people staying indoor they were shopping online through e-commerce websites. We definitely see the smartwatch segment growing quite a bit in the coming year. As per the IDC report, in 2021 consumer wearable market was led by strong momentum in the watch and earwear categories leading to India’s highest-ever first-quarter shipments. We see that building in 2022 as well.
