During an exclusive interaction with Mobility magazine, Mr Pawan Kumar, CEO Elista discusses in detail regarding the journey and the milestones that the brand entailed and focuses on the future road map ahead.
Let us know the journey of Elista. What are the milestones that you have achieved?
Elista started its journey in 2020 as a Consumer Electronics, Home Appliances, IT, and Mobile Accessories company. Our adventure began with the debut of televisions, followed by the launch of our washing machine & dishwasher line in the same year. Our objective was to symbolize innovation of the highest caliber in India. We are pleased to declare that we have accomplished this feat with a product line that stands out in terms of global quality and design while being affordable.
Our effort to combine quality, innovation and affordability is exemplified by our dishwasher. Before we entered this segment, Dishwashers were considered a luxury item for a select few. We have altered this and made it accessible to a far larger audience. Today, in this portfolio, we’ve included cutting-edge items such as Smart TVs powered Web OS TV and speakers.
We are proud that our efforts have been noticed, and we have been felicitated with awards such as the BARC Award for ‘Prestigious Brands of Asia’ and the CMO Asia award for ‘Excellence in Branding & Marketing’. During the course of our journey, we have also been fortunate to have two ace cricketers, Suresh Raina and Ishan Kishan, as our brand ambassadors.
As a responsible, homegrown ecosystem, we have been catering to the needs of our diversified customer base. Our focus and consistent efforts have enabled us to clock impressive growth year on year. In the first year of operations, we had posted revenues to the tune of Rs. 35 crores and have grown over 4X to Rs 158 crore this year.
Despite the cut throat competition, how do you position the brand against the competitors?
Our current product selection speaks for itself in terms of both variety and quality. We were adamant that we needed to disrupt the market with our affordable premium products, which necessitated a robust support network. We have been able to establish ourselves by successfully competing with the market-dominant industry leaders. Consumers have responded positively to our products, and our mission is to give back to society by creating jobs and establishing India as a global center for innovative indigenous manufacturing.
What are the target audience and key focus areas?
We have been introducing products with cutting-edge technology and making them accessible to the masses. In terms of innovation and design, our products will be measured against only the top brands. While our products are technologically superior and feature-packed but they are also reasonably priced. We are targeting budget-conscious people that are looking for aspirational products.
In tandem with our product offering, we have also been working on developing a robust supply network. We have an online presence on Flipkart, Amazon, Tata Cliq, and Payed, about 25,000 retail locations across India, and a channel network of 1,000 distributors. Currently, our primary markets in India are Jharkhand and Bihar. We are also permitted to establish a manufacturing unit in India. Our mission is to offer Indian clients global quality at local pricing.
Elista thrives on Make in India. Explain
Using a two-pronged strategy, the primary objective of this effort is to make our country the global manufacturing epicenter. We are completely aligned with this objective from the start of our journey. Our objective is to Make In India for the globe. India is all set to be the global Centre for design and production. Elista has been recently given permission to establish a manufacturing facility in India, from which it would provide job possibilities to Indian citizens and develop creative items of worldwide quality.
In the next coming years how do you plan to reach in terms of revenue, geographical reach etc?
At Elista, our journey has just begun. We aim to achieve a turnover of Rs. 250 crores in the current financial year. Expanding to overseas markets in Dubai, Central Asia, Middle East is also in the pipeline. Plus, we are in the process of setting up a manufacturing facility in India. Till now, manufacturing has been outsourced. With the acquisition of a manufacturing license, it will now be in-house. We aim to increase our footprint both in India and globally. Our dual purposes of going ‘vocal for local’ and ‘creating job opportunities’ in India are at the heart of all our operations.