iconiifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Mr. Sanjay Kalirona, CEO and Co-founder, Gizmore

26 Mar 2024 , 03:15 PM

1) Can you elaborate on your partnership with OEL and how it will benefit Gizmore?

 Gizmore is committed to the Make in India initiative. While a part of the audio range was already being manufactured in India, we started making smartwatches in India only this financial year. After working with some of these partners, we realised the need for a reliable manufacturing partner to work within the time constraints and deliver quality smartwatches. It is keeping these considerations in mind, we decided to partner with OEL. Through this partnership alone, we will make 1 million smartwatches in this financial year, and our target is to capture 5% of the market share. Another important aspect that I want to highlight is that almost our entire portfolio is being made in India. 

 2) Why did you choose OEL as your partner? 

There are a lot of considerations that go into picking the right partner. We were looking for a trusted name that we could rely on, and OEL is one of the country's oldest and biggest smartwatch makers. With OEL as a partner, we were confident we would get quality goods within the set timelines. We are glad to have OEL onboard and looking forward to a long and fruitful relationship with them. 

 3) Currently, what percentage of your smartwatch portfolio is being Made in India? 

Although we started making smartwatches in India only last year, almost our entire portfolio is now being manufactured in the sub-continent. 

 4) The smartwatch segment in India is heating up, and many Indian players are vying for a bigger market share. What differentiates Gizmore from the rest?

At Gizmore, we have always been proud of our strong offline presence. While we continue nurturing these relationships, we have expanded our online presence. From a mere 10% last year, our online presence has grown to 50%. Furthermore, we also launched our own D2C website. We are connecting with our target customers at every touchpoint possible. Along with a strong sales network, we are equally bullish on our after-sales and have a PAN-India service network for customer support. 

Our price strategy is a clear differentiator for us. We believe in delivering value-for-money devices to our customers. We are also ahead of the curve and launching devices that offer the latest features at affordable prices.

 5) What are Gizmore's plans for the smartwatch segment for 2023? How many launches can we expect, and what market share is the company eyeing?

The smartwatch segment is essential to our product portfolio, and we have been witnessing good customer traction. We will launch 15 new smartwatches in the next financial year and aim to capture 5% of the market share. Gizmore is bullish about its smartwatch category this year. Our partnership with OEL will further fuel our growth in this segment. 

In 2023, we will also be focusing on growing our online reach. Having launched our D2C channel, we are looking to strengthen this further. We have also recently partnered with Amazon India. Some of our bestsellers, like Gizmore Orbit, GizFit Blaze Pro, GizFit Flash and GizFit Slate, will now be available on Amazon India. While we continue to focus on smartwatches, we will also be looking at expanding our hearable and mobile accessory business. We have been getting good customer traction for our speakers and audio range and are looking to capture a bigger slice of this market in the coming months. 

 

 

 

LeaderSpeak

Related Tags

  • Leaderspeak
sidebar mobile

BLOGS AND PERSONAL FINANCE

Images
29 Mar 2024   |   10:14 AM
Images
28 Mar 2024   |   03:36 PM
Images
28 Mar 2024   |   03:01 PM
Images
28 Mar 2024   |   01:21 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.