VU Launches Luxury TVs, Eyes Rs 600 Cr Revenue In FY17

VU-Luxury-TvTelevision brand VU Tuesday launched a series of luxury TVs, including smart televisions, in the Indian market ahead of the festive season. Priced in the range of Rs 1,00,00 to Rs 3,00,000 the VU TVs come in varied sizes including 55 inches, 65 inches and 75 inches. The luxury TV range includes curved TVs and premium UHD smart TVs.

The California based TV brand having Devita Saraf as its CEO, though a new player in the Indian market, claims to be doing good in India and is the fourth largest brand after Sony, Samsung and LG.

The company also claimed that VU TV has seen over 350% Y-o-Y growth in last financial years and it eyes a revenue of Rs 600 crore in FY 2016-17. Its revenue in FY 2015-16 was Rs 275 crore, company’s CEO Devita Saraf said.

“We a have the largest range of TVs after Sony, Samsung and LG with 22 Unique SKUs in the Indian market. We have had 350% Year on Year growth since 2013 aiming for a turnover of Rs.600 Cr in 2016-17. With the launch of our new portfolio and many more in the pipeline, we are confident of achieving that goal within the stipulated time frame”, she added.

The company had sold a total of 1,50,000 TV sets last year and targets to triple it to touch 4,50,000  units in 2016-17.

“Last year we sold 35,000 units on a single day,” Saraf said. “That shows consumer’s trust in our brand.”

Mostly relying on online retail as distribution strategy, the company is planning to expand its offline footprints in this year.

“70% of our sales comes from online and 30% from offline but we are expanding our physical reach this year,” the young lady CEO of the VU told TeleAnalysis.

The company has more than 200 distributors in the country and VN wants to double it by end of the year. Similarly, to offer a holistic experience of the TVs, VU has opened 20 company-owned physical stores which will also be doubled by end of 2016.

However, the company also claims itself as the largest online TV brand in Indian TV market which is getting crowded as well. In the last quarter 3 new brands entered into the market and all of them rely online ass their preferred retail channel.

Chinese technology company LeEco, earlier known as LeTV launched its large screen smart TVs in July, Kodak launched in August and Micromax also launched its new series of TV sets in the Indian market.

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