Mr. Sanjay Kalirona, CEO and Co-founder, Gizmore

24 Mar 2023 , 04:54 PM

1) Can you elaborate on your partnership with OEL and how it will benefit Gizmore?

Gizmore is committed to the Make in India initiative. While a part of the audio range was already being manufactured in India, we started making smartwatches in India only this financial year. After working with some of these partners, we realised the need for a reliable manufacturing partner to work within the time constraints and deliver quality smartwatches. It is keeping these considerations in mind, we decided to partner with OEL. Through this partnership alone, we will make 1 million smartwatches in this financial year, and our target is to capture 5% of the market share. Another important aspect that I want to highlight is that almost our entire portfolio is being made in India.

2) Why did you choose OEL as your partner?

There are a lot of considerations that go into picking the right partner. We were looking for a trusted name that we could rely on, and OEL is one of the country’s oldest and biggest smartwatch makers. With OEL as a partner, we were confident we would get quality goods within the set timelines. We are glad to have OEL onboard and looking forward to a long and fruitful relationship with them.

3) Currently, what percentage of your smartwatch portfolio is being Made in India?

Although we started making smartwatches in India only last year, almost our entire portfolio is now being manufactured in the sub-continent.

4) The smartwatch segment in India is heating up, and many Indian players are vying for a bigger market share. What differentiates Gizmore from the rest?

At Gizmore, we have always been proud of our strong offline presence. While we continue nurturing these relationships, we have expanded our online presence. From a mere 10% last year, our online presence has grown to 50%. Furthermore, we also launched our own D2C website. We are connecting with our target customers at every touchpoint possible. Along with a strong sales network, we are equally bullish on our after-sales and have a PAN-India service network for customer support.

Our price strategy is a clear differentiator for us. We believe in delivering value-for-money devices to our customers. We are also ahead of the curve and launching devices that offer the latest features at affordable prices.

5) What are Gizmore’s plans for the smartwatch segment for 2023? How many launches can we expect, and what market share is the company eyeing?

The smartwatch segment is essential to our product portfolio, and we have been witnessing good customer traction. We will launch 15 new smartwatches in the next financial year and aim to capture 5% of the market share. Gizmore is bullish about its smartwatch category this year. Our partnership with OEL will further fuel our growth in this segment.

In 2023, we will also be focusing on growing our online reach. Having launched our D2C channel, we are looking to strengthen this further. We have also recently partnered with Amazon India. Some of our bestsellers, like Gizmore Orbit, GizFit Blaze Pro, GizFit Flash and GizFit Slate, will now be available on Amazon India. While we continue to focus on smartwatches, we will also be looking at expanding our hearable and mobile accessory business. We have been getting good customer traction for our speakers and audio range and are looking to capture a bigger slice of this market in the coming months.