Over the past three years, the company has broadened its reach from just 1 state to 8, grown its retailer network from 300 to 2,500, and increased its presence from 8 locations to 45.
- Targets 100,000 LED TV sales in CY2023 and plans to reach 10,000 stores in 100 locations by year-end.
OKIE is making significant strides. With an offline presence through 2,500 retailers across 45 locales in eight states, the company’s sales report reflects its market impact. By the close of FY 2022-2023, OKIE’s flagship Smart LED TVs recorded sales of nearly 30,000 units across seven states. The pandemic period saw over 25,000 of these sales. Over the past three years, the brand has witnessed significant growth, setting a goal of INR 100 crore in sales and targeting 100,000 units by CY 2023.
Given the prevalent price sensitivity among Indian consumers concerning electronics, the surge in sales is commendable. The Indian electronics market is projected to touch a staggering INR 12,898.89 Bn by 2027. The company’s business strategy hinges on offering high-quality products at competitive prices. A testimony to this is their diverse TV range, 24″ to 86″ sizes, embedded with platforms like Google TV, WebOS powered by LG, and cloud OS.
Highlighting their commitment to affordability, the brand is set to launch the sports series smart TVs. The company’s prominence in the western and southern regions, in states like Gujarat and Tamil Nadu, is unmistakable. Plans to penetrate Northern states, including Punjab and Haryana, are in motion.
The company founder and Managing Director, Jitin Masand, reflected on the brand’s success, “OKIE’s trajectory is driven by a passion for innovation and unmatched quality, key to our value proposition. Our multifaceted marketing strategy, blending traditional with digital, aids our ambitious outreach beyond metros into the tier 2 and 3 segments.”
The company anticipates a wave of investment is on the horizon, geared towards increasing its production capacity. This move will increase threefold, taking their monthly output from 5,000 TVs to 15,000. By the year’s close, the company has plans to establish its footprint in 10,000 retail stores, spanning 100 distinct locations.
