After having established itself as a reliable and trusted brand in India, Gizmore is in an expansion phase today. It has a strong presence in offline retail and is now looking to augment its online presence in the post-pandemic phase.
Sanjay Kalirona, CEO & Co-Founder, Gizmore speaks with Zia Askari from TelecomDrive.com about the current trends in the wearable space and how Gizmore is targeting the Indian market with its innovative offerings.
What are some of the key focus areas for Gizmore today?
From our inception, we have focused on providing feature-rich products at affordable prices. Our consistent efforts have been rewarded, and we have registered a substantial spot in the market. Currently, we are focusing on expanding our reach, primarily through online channels. In line with this, we have recently launched our D2C channel and forged a partnership with Amazon and Flipkart. While we continue to consolidate our presence in the smartwatch space by offering trendy devices that provide essential health features, we will also expand our presence in the party speaker market. We will be offering Bluetooth-enabled party speakers with a bigger battery.
What is your Business Model and Retail Strategy for getting the right mix with Offline & Online?
Gizmore is in an expansion phase, and at this juncture, we need to strike a balance between offline and online strategy. We had a strong presence in offline retail, which helped us scale our business in the initial years. However, we have been looking to augment our online presence in the post-pandemic phase. We work closely with the business partners to ensure we can reach the customers at every touchpoint. We have also been strategic with the pricing of our products, and they have been fixed, keeping the mass market segment of that channel in mind.
How do you look at the competition today and how is Gizmore different from its competitors?
Competition in the segment has always been intense, and since there are no entry barriers, the market will get even more crowded in the coming days. On the positive side, the market is expanding at a rapid pace, and there is enough legroom for all players. Our core strength is that we are operating in the affordable premium segment. We stay ahead of the curve by offering technologically advanced, premium-looking devices at budget-friendly prices.
How do you think the Make in India initiative has opened doors for Homegrown brands in India. How has Gizmore gained from this initiative?
We have been a firm supporter of the Make In India mission. Gizmore was indeed the first brand to launch Made in India Smartwatch. In contrast, all the other homegrown brands are getting the smartwatch assembled or manufactured in India. We are extremely bullish about our Make In India plans and have partnered with Optiemus Electronics Limited (OEL) to manufacture around 1 million smartwatches in the next 12 months and capture a 5% market share in India.
Please share your future plans of the brands – Launch of wearables and hearables in India?
2023 will be a growth year for Gizmore. In the last couple of months, we have launched Gizmore Vogue, Gizmore Cloud, Gizmore Glow Luxe, and Gizmore Blaze. These are premium-looking smartwatches, and all of these have been a runout success. We have focused on offering reasonably priced smartwatches for both men and women. Buoyed by the success of these launches, we have chalked out aggressive plans for this year and will launch a sizeable number of wearable and hearables. The idea will be to offer a model at every point and offer a lot of options to the customers.
What are your upcoming plans on introducing a new product range, and brand’s focus on R&D in India, and the role of advanced technologies in its products?
Our R&D department has been our backbone. Through their dedicated efforts, we were able to break price barriers and offer great portfolio products. While we continue to expand our portfolio in the hearable and wearable space, we are also looking to launch various new products under the IoT category. Our research teams are already working on these devices and will introduce them soon.