Elista, led by industry experts, provides a wide range of products under different segments such as LED TVs, Washing Machines, Coolers, Dishwashers, Refrigerators, IT Accessories, Mobile Accessories & Speakers. The promoters of Elista have a deep understanding of distribution channels and networks in over 25 countries. As an Indian consumer electronics company driven by dual objectives – ‘being vocal for local’ and ‘creating a great big employment opportunity for the citizens in India’ – Elista strives to better people’s lives.
Founded in 2020, Elista is India’s leading world-class electronics, home appliances, IT and mobile accessories brand. As part of the TeknoDome, UAE, Elista adheres to India’s Atmanirbhar principle. In an exclusive interview with NCN Magazine, Mr. Saket Gaurav, CMD, Elista & Founding Chairman of TeknoDome, shares the company’s future plans, vision, mission and Make in India initiatives.
Please brief us about the inception, meaning, and significance of the term ‘Elista’.
‘Elista’ is Oath of God. We started operations in India with the objective to offer innovative, technologically-advanced products into the market at affordable price points. We could strike an instant chord with Indian consumers through our differentiated offerings. Having established ourselves in India, we are now looking at expanding to other international markets. We have established an excellent channel network in India and have similar channel networks in the Middle East, Africa, and CIS market. Our channel network is one of our biggest strengths.
From the day we started our India operations, it was in our game plan to expand to other international markets. Incidentally, Elista is also the name of a city in Russia. Having captured a sizeable share in the Indian market, we are now looking to expand to Russia. Just like in India, there is a need gap in the International market. We are confident that we will be able to charter a similar growth trajectory in the new markets we enter.
What changes have you seen in the Indian market post COVID-19? What new products have you added to your portfolio in India?
Post-Covid, Indian consumers have grown more aware of the applications and features of the gadgets they purchase. Elista has recently launched innovative products in the dishwasher category, which is unavailable with most other brands. We hope by 2025, the dishwasher segment will become as big as the washing machines in size.
What is your take on Make in India?
The leading products of our brand are TVs, which contribute to approximately 75% of our total revenues, and the remaining 25% comes from other products. We get all our TVs assembled in India. In the future, we plan to have our full-fledged manufacturing unit in India.
How do you foresee the future of the Indian market in the global context?
India is a huge emerging market that offers excellent opportunities, and India’s rural market also offers immense scope. Supply chains and logistics are also very favourable for India, but the skills of the Indian workforce need to ramp up. The international market is significant despite the trade sanctions imposed on a few countries. Fortunately, India does not come under any international sanctions; hence we can openly trade with other countries, which is an additional advantage.
What new innovations are you introducing under your brand? What new segments are you planning to enter?
We are strongly oriented towards the latest technologies and try to incorporate those into our products. We have a wide range of products that cut across several segments like home appliances, entertainment categories, music systems, and lifestyle products like earphones, neckbands, and air coolers. We are in talks with many new partners to supply our air conditioners and refrigerators. The gaming industry is another target area for us.
Brief us on the vision for your brand.
Our annual revenue is INR 500 crore, counting only the Indian market. We are looking forward to increasing our exports to the Middle East market, which is expected to improve our international revenues substantially. We aim to have our manufacturing unit, which will help us to have a unique advantage in the domestic and international markets.
What is your message to the industry as a leader?
Regarding the Indian market, there is still a lot that needs to be done by the Indian government. We still have TVs that are called manufactured in India but are only assembled in India. If we can reduce our imports, the Indian economy would become stronger. In addition to manufacturing or supplying for the domestic market in India, the domestic manufacturers should also simultaneously focus on supplying to the global markets. This is the aim of Elista. Our vision is to put India on the global innovation and manufacturing map by creating ground-breaking product designs and innovations along with building high levels of convenience around the products and services.