o Plans to invest INR 100 crore over the next three years to achieve INR 500 crore turnover in the same period
o Skyball's first range of products will bring exciting Home Audio products at pocket-friendly prices
o Skyball will introduce feature-packed smartwatches in June 2023
Videomax International Pvt. Ltd (VMI) - homegrown company, has announced the launch of Skyball, a new-age Home Audio, smart accessories, and Consumer Electronics brand.
With a focus on home audio, wearable devices and smart accessories, Skyball seeks to offer consumers a compelling range of innovative and feature-rich products designed to enhance their lives. VMI has committed to investing INR 100 crores in the next three years in Skyball's growth, with the aim of achieving a turnover of INR 500 crore in the same period. Skyball is targeting a turnover of INR 100 crore this year, reflecting the company's confidence in the brand's potential to capture a significant share of the market.
"We are delighted to introduce Skyball, our latest consumer electronics brand, which will revolutionize the smart accessories market in India," said Mr. Sandeep Gupta, Chairman & Managing Director of VMI & Skyball. "At VMI, we are dedicated to delivering innovation, quality, and customer satisfaction, and Skyball embodies these values."
Mr. Gupta added, "We are aligned with govt’s 'Make in India' initiative, and are proud to have two advanced manufacturing plants located in Greater Noida and Roorkee, with a combined factory area of 120,000 sq. ft. Our focus is on providing the best technology to our consumers and making a positive impact on their lives. We look forward to an exciting launch for Skyball and shaping the future of the Indian consumer electronics market."
Skyball's first range of products will bring exciting Home Audio products, which will be launched later this month. The Home Audio portfolio will feature Party Speakers, Tower Speakers, Bluetooth speakers, soundbars, and more. With seamless connectivity, long battery life, and the best audio listening experience, these audio products will offer customers the best-in-class music streaming experience possible.
Skyball also plans to expand its portfolio in the wearables category with the launch of its smartwatches in June 2023 with an initial concentration on online platforms, followed by a pan-India expansion into offline stores. To enhance the user's experience, these smartwatches will include the latest technology and health-centric features, such as fitness tracking, heart rate monitoring, sleep tracking, built-in GPS, and more. The sleek and stylish design of the watches will make them the perfect accessory for any outfit.
The home audio category is projected to account for 30 to 40 per cent of the total revenue, while 60 per cent of the revenue is expected to come from the smart accessories business. Smartwatches, TWS, and neckbands are expected to be the primary contributors to the smart accessories category.
Skyball is committed to providing customers with superior experiences through its innovative and affordable products. During the first quarter, Skyball will concentrate on establishing its online presence by forming strategic partnerships with Amazon and other prominent e-commerce companies. In the subsequent quarter, the company will shift its focus to building its offline presence and reinforcing its distribution and dealer network in Tier-II and Tier-III markets.
Skyball is dedicated to providing superior customer experience and after-sales service and has established a strong installation and after-sales team comprising over 500 service centres across 450+ cities to deliver top-notch support. This will ensure a hassle-free onboarding and service experience for all customers, and the company plans to increase the number of service centres in the future. The brand also has plans to extend its reach to international markets and is preparing to launch its operations in the Nepal and UAE markets by April of next year.
The launch of Skyball represents an important step forward for VMI as it continues to expand its offerings and strengthen its position in the highly competitive Indian consumer electronics sector. With a focus on innovation, quality, and affordability, Skyball is poised to become a game-changer in the market.
New Delhi, May 12, 2023
.JPG)
