Astrum Bets Big on India with New Products, Channel Strategies
Hong Kong based digital solution provider, Astrum, is planning to unveil new range of products in audio, smart device, mobility and IT peripherals under Rs. 5000 in India this year. The company is targeting 200% revenue with the addition of over 100 products to its categories. With its India office in Mumbai, Astrum is expanding its reach at pan-India level by growing with its channel partners and considers them as staunch allies to its brand image.
“We have over 1000 products at present, but we’re working on revamping our entire range of products with smart features and new packaging this year, keeping in mind the price bracket of the products. This year, we are planning to launch more than 100 products with a key vision to increasing the production capacity in India,” said Manoj Kumar Pansari, Chairman and Managing Director, Astrum India.
In India, the company gets 90% of its revenue from offline markets, 70% of which is coming from Tier-II and Tier-III cities. It is betting big speakers in speakers category to cater Tier-I cities.
The brand has already started with the production facility in India and has released new range of Smart Multimedia Trolley Speakers TM081, TM151 and TM220 priced at Rs. 8,999, Rs. 16,999 and Rs. 21,999. In November, the company has introduced its first made in India power bank with 10000mAh battery capacity priced only at Rs. 1,490. The product is available with all offline stores and online on Amazon.
Astrum will be soon introducing a new range of smart wearable device followed by exciting range of classic yet stylish keyboard and portable speakers with advanced features and new packaging in the first quarter of 2020.
Pansari said, “To further strengthen the channel network, we have tied up with regional distributors who work towards developing distribution channel network covering the entire region. We have now associated with North, and East regional distributor of India who coordinated with the area distributors. We are now targeting to tie up with west and south regional distributor of India this year. As this pathway is a long-term association for the brand, we are also working on several channel friendly schemes and policies.”
In north we have tapped, NCR, Hariyana, Bhopal, Rajasthan, Uttar Pradesh, Uttarakhand, Himachal, J&K & Ladaak with the help of RD. And East region such as West Bengal, bihar, Jharkhand, Odisha, and are focusing to reach Assam and other northeast regions, with a keen to develop the sales strategies in market with 360-degree exposure and to mark presence in General Trade, OT/LFR, e-Commerce & Corporate,” he added.
Astrum India operations will strongly support sales and customer delivery in India apart from its research and development activities. It has established 1500+ authorized service centers nationwide, and are now targeting to double this number by next six months.
“We will soon be in all major outlets such as Reliance, Croma, Vijay Sales & so forth, and also intends to take Width of Distribution growth to 10,000+ numbers by March. The facility is also going to cater to its global markets and will abide by its stringent quality standards. Our target is to make 400% growth in India in the next two years and to measure its strong sales achievements,” he said.