Daiwa, a Make in India brand of Videotex International, has been manufacturing and providing TVs in India since 1984. In an interaction with NCN, Mr Arjun Bajaj, CEO & Founder of Daiwa, shares their company’s policy and market strategies.
How Daiwa is performing in the Indian market?
From the House of Videotex, our first brand Daiwa entered the Indian Markets in 2016. Ever since the beginning, Daiwa has focused on bringing the latest technology at the most prudent prices, in the Indian Markets. The Brand has established itself as a ‘name to reckon with’ when it comes to Indian Consumer Durable Brands. Despite of all the hassles on its way, today, Daiwa is recognised among the top 10 TV brands, bringing luxury at affordable price-points to Indian users, in a span of only over 4 years. In India, Daiwa has put all the efforts to break the trade-off between innovation, quality and cost. Today, Daiwa has proudly earned its place amongst the leading brands for televisions in India and sells its products in all the leading retail stores and online portals, in addition to selling on its own website.
What are the impacts of Covid pandemic on the consumer durable industry?
Since the imposition of lockdown, the supply chains of manufacturing units remains worst hit especially of the consumer durables since a large percentage of the components would come from overseas. The supply chain issue has also put pressure on the prices, which might be revised further. Having said that, currently the market scenario has improved a lot with the Demand for TVs at its peak and it’s almost double during the months of June and July 2020 as compared to last year.
What is your GTM strategy during this crisis?
Daiwa has been aggressively working to build a new ecosystem restructuring the critical functions such as approach towards Sales, Logistics, Marketing, Customer service, etc. Lastly, upgrading and upskilling the partners, retailers and sellers, making them digital-ready, is also a high priority for us.
What support Daiwa, a brand by Make in India vision, expecting from the govt?
We have been a Make in India brand since 1984. We have always worked on expanding our Infrastructure. At this juncture, we expect our government to support Indian manufacturing by announcing some benefits. It shall be a strong push towards becoming Atmanirbhar.
Being a top seller in Indian TV market, are you coming up with any surprises in this space?
We have been working on several new TV technologies. Recently we have launched 4K TVs (43-inch, 55-inch and 65-inch) with the most advanced user experience both for storage and entertainment. The addition of dbx-tv’s precision audio technology to our 4K TVs brings the very best sound experience and value for our customers.
What are the key priorities of Daiwa in 2020 and plans for future?
The year 2020 has been the most challenging for the industry. The lockdown has pushed up the consumption of the OTT content which has in turn has pushed up the demand for Smart TVs. Considering the trend, this year we shall continue presenting our range of Smart TVs at the most affordable price-points with state-of-the-art features for the Indian consumers and will be moving towards Industry 4.0, digital transformation in the manufacturing space. We have been working on escalating the manufacturing infrastructure in India along with the sales network. One of our future strategies is the parallel launch of our Smart TVs and washing machines in sync with the consumer needs, which is set to win the hearts clients.
