Elista is founded in 2020, Elista is India’s leading world-class electronics, home appliances, IT, and mobile accessories brand. Part of the TeknoDome, UAE, Elista adheres to India’s ‘Atmanirbhar’ principle of manufacturing, and its portfolio consists of LED TVs, Washing Machines, Coolers, Dishwashers, Refrigerators, IT Accessories, Mobile Accessories & Speakers.
During an exclusive interaction with Mobility Magazine , Mr. Pawan Kumar, CEO of Elista (a TeknoDome Group Company) & Mr. Saket Gaurav , Chairman and Managing Director of Elista reveal their growth goals are intertwined with Make In India and will help the company achieve the position of being the strongest player in the world-class electronics in the country .
Take us through the journey of Elista. What are the milestones received?
Mr Pawan Kumar– Elista has made remarkable strides since its inception in 2020. Within just three years, Elista has disrupted the market with a wide range of consumer electronics, including Smart TVs, washing machines, refrigerators, dishwashers, home audio products, and more. Within its inaugural year of operation, the brand achieved a noteworthy milestone, surpassing Rs 35 crore in revenue. Building upon this success, Elista experienced exponential growth, with revenue skyrocketing to an impressive Rs 158.8 crore in FY22. Undeterred by challenges, Elista’s unwavering dedication led to a further milestone in FY23, where the brand achieved remarkable revenue of Rs 200 crore.
Elista has established a robust channel presence with a network of over 350 distributors in India. This extensive distribution network allows us to reach customers in diverse regions, ensuring the widespread availability of Elista products throughout the country.
What has inspired you to come up with this new brand?
Mr Saket Gaurav- I hail from Bihar, a region known for producing India’s leading administrators. However, my time abroad exposed me to the world of business through TeknoDome, a renowned distribution hub for numerous global brands. It was during this journey that I nurtured the dream of establishing my own brand, which eventually led to the birth of Elista.
What are the opportunities that you see in India market?
Mr Pawan Kumar – The Indian market presents a multitude of opportunities for Elista. We have identified several areas of opportunity to capitalize on consumer demand and fuel its growth with a product portfolio that includes smart TVs, refrigerators, speakers, dishwashers, and more. By focusing on these specific categories, Elista aims to cater to diverse consumer preferences and meet their evolving needs. With a strong manufacturing, R&D, distribution, and service network, Elista is well-positioned to expand its market presence, drive growth, and establish itself as a leading player in the Indian consumer electronics industry.
Identifying market gaps, understanding the diverse needs of customers, and delivering innovative, is the main vision of Elista. Explain
Mr Saket Gaurav – India has long grappled with a scarcity of brands that strike the right balance between affordability and quality. Affordable products often compromise on quality, and high-quality ones tend to come at a steep price. Recognizing this gap, we seized the opportunity with Elista. Our brand aims to offer customers products that are both budget-friendly and equipped with top-notch features, ensuring that it doesn’t strain their wallets while providing the best possible experience.
How have you been able to formulate the growth strategy?
Mr Pawan Kumar – A key aspect of our growth strategy is the integration of both online and offline channels. We recognize the importance of digital platforms and leverage them to reach a wider customer base. Additionally, we understand that offline visibility plays a crucial role in the Indian market, where consumers prefer experiencing products in retail spaces before making purchase decisions. Hence, we strategically place our products in retail stores to enhance brand recognition and provide customers with the opportunity to interact with our offerings firsthand.
By combining a customer-centric approach, innovative product development, strategic marketing initiatives, and a strong offline presence, we have successfully formulated a growth strategy that positions Elista as a trusted and preferred brand in the consumer technology industry.
Elista adheres to India’s ‘Atmanirbhar’ principle of manufacturing. With a vision to put India on the global innovation map. Explain in detail the idea behind the brand.
Mr Pawan Kumar- At Elista, our core vision is to position India as a prominent player in the global manufacturing ecosystem. With a vast pool of skilled workforce, India can harness its talents in producing cutting-edge, world-class consumer technology products that meet international standards. We are committed to showcasing the capabilities of Indian manufacturers and their ability to produce world-class consumer durables. By prioritizing manufacturing excellence, we aim to create opportunities for Indian businesses and elevate the country’s reputation as a reliable and high-quality manufacturing destination. Embracing these opportunities will not only drive economic growth but also solidify India’s position as a frontrunner in the global consumer electronics industry.
What is the scope of consumer durable in international market?
Mr Saket Gaurav: The scope of consumer durables in the international market is immense, driven by rising global consumer demand. As economies grow and urbanize, there’s a growing appetite for high-quality electronics, appliances, and durable goods. The advancement of technology and e-commerce has made it easier for international players to enter new markets. Moreover, environmental concerns are driving the demand for sustainable and energy-efficient consumer durables, opening up new avenues for innovation and market expansion.
Early this year, you have had an establishment of a modern 1.32 lakh sq ft facility in Andhra Pradesh. Take us through further steps.
Mr Saket Gaurav – We are hoping the facility to be operational in early 2024. We will be producing not just TVs but other electronics and gadgets which we will announce from time to time.
Mr Pawan Kumar– Elista has laid out an ambitious future roadmap with a focus on expansion, manufacturing, international presence, and global brand recognition. By 2030, we have set significant milestones to achieve, including entering new product categories to broaden our portfolio and reach a wider customer base. In line with our expansion plans, we recently announced the establishment of a modern 1.32 lakh sq. ft facility in Andhra Pradesh in March 2023. Additionally, we will be investing Rs 100 crore in setting up a second manufacturing plant in the state. This state-of-the-art plant will have a production capacity of 10 lakh Smartwatches and 2 lakh Speakers, contributing to job creation opportunities for around 500 individuals.
Take us through the vision ahead- future growth plans, manufacturing opportunities.
Mr Saket Gaurav – We plan to be taking Elista to 35+ countries in next two years. Moving further ahead we plan to manufacture for not only ourselves but for the world in India.
Mr Pawan Kumar Elista has made noteworthy strides in international markets. In just 30 months since our inception, we have successfully established a presence in 15+ countries. This demonstrates our commitment to the core idea of “Make in India for the World” and our dedication to contributing to the growth and recognition of Indian manufacturers globally.
Covered By: Mobility India / Elista
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