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The beginning
- as ifStart Story | August 17, 2022
“Hum dandih wale log hi. We understand the power of execution and profitable sales.According to Co-Founders & Directors Ranjit Singh & Jaideep Singh. Returning user He did a special interview with The story of the beginning.
Revor was launched during the Covid season, one of the most difficult times for an entrepreneur, both commercially and emotionally. As the entire world shifts to online sales, they see an opportunity in the offline market in India’s second-largest importer. After oil and gas, consumer electronics and appliances account for ~15% of India’s import bill, according to the Indian Department of Commerce.
Started in September 2019. Revore has built its network in the most remote cities in India with presence in over 2 lakh metro cities spanning over 14 states. The concept of the brand is embodied in their name, which translates to “reunion”. They currently sell over 250+ attractive, smart and energy efficient SKUs across lighting, kitchen and homewares with 10,000+ retail touchpoints. Companies have been able to challenge the norm, where they normally start online first and move offline to build a sustainable brand. They did the opposite And now they sell through Amazon, Flipkart and directly through their website along with their strong offline channel.
Revour drivers
Ranjit Singh, Director and Co-Founder, has over 30 years of experience in consumer sales across leading brands including Philips, Polycab, Bajaj, Surya and Pepsi, and has spent the past three years building consumer electronics products from scratch. Decades. His efforts have put Revour on the map in over 100 districts and 175 cities across India. He is a history buff who enjoys composing poetry in his spare time. Ranjit excels in handling the offline business aspect of the startup.
Jaideep Singh Gaur, director and co-founder of Revore, has over a decade of investment banking experience, having worked with companies such as KPMG, BMR and Mobikwik. He holds an MBA from Wellingkar Institute of Management, Mumbai, and a bachelor’s degree from BT, Mesra. Jaideep’s deep knowledge of fundraising, technology, understanding of business models and growth is a plus for Revore. He is a state-level basketball player and enjoys traveling and reading in his spare time.
Connect with Revour here: Website | Instagram | Linkedin Amazon
Revour and the range of consumer electronics
The National Electronics Policy 2019, PLI scheme, reforms like simplified labor laws and technology innovation fund scheme, and local chip manufacturing are India’s start to compete with global electronics powerhouses like China and Taiwan in the next decade. This further enhances Revore’s vision to become an affordable consumer electronics brand known for value, quality and service.
Good marketing doesn’t make up for a bad product. Repeat Only It works with top-rated OEMs that supply one of the world’s largest consumer electronics brands. The asset light strategy is a key theme in collaboration with Revour’s best Indian equipment manufacturers to deliver a new era of unique consumer electronics products. Revore’s omnichannel strategy is its key strength. They sell around 20lakh units per year which means they can push 20lakh customer impressions online with zero acquisition cost. Similarly, the online channel has been doing well to test new products with their customers and then promote them in 14 states across the length and breadth of India.
Differentiating in the commodity market will be one of Revour’s biggest challenges. Introducing products in the entry-level segment has helped them focus on generating enough cash flow to develop new products in the digital-first and smart categories. New businesses are bound to have challenges from traditional brands. The right pricing and right execution can put any startup on par with an industry behemoth, like Revour. They are competing with Lifelong, Atomberg, Candes, Inalsa, Luker and Baltra to name a few category leaders.
Knowing where your customer sits is half the job done. Targeted local retailers, which still account for the majority of consumer electronics sales in India, will rebound. Similarly, in the online space, one of the biggest brands in India, like yachts, sells 80%-85% of its sales through the marketplace and not through their website. Target where your customer sits. Revore is now making every effort to contact the customer directly. Brand building level playing field. New-age SAAS platforms leverage products like Revour for seamless integration with warehouse, logistics, and payment gateway partners. 10+mn new sellers onboarded marketplaces in India last year.
With over 10 million online active shoppers and a QR code even in the farthest reaches of India, we think Revour is uniquely positioned to benefit from the offline and online growth we’re seeing in India. of The online consumer electronics market is estimated to reach $30.6 bn by 2025, i.e. ~ one third of the total D2C reachable market. Consumer electronics is a major contributor to the Indian D2C space. Decision makers are buying more: 44% of online shoppers are women compared to 10% 4 years ago.
The combined experience of over 150 years of Revor’s consultants and founders has helped the company build a 45-member strong rockstar team from scratch. Hiring is one of the biggest challenges an entrepreneur faces in the early years. Experienced. Management is key to hiring right.
Finally, investing in the right technology and ERP system has helped Revore effectively manage its working capital, distributors and sales representatives. Using technology has helped team members to save a lot of time on repetitive tasks, provide hands-on learning and enhance their skills.
Progress and future
Currently Revore is clocking sales of INR 2 crore / INR 50 crore per month in 24 months of operations since the outbreak. This is what they call the power of right execution and the power of deep understanding of Indian consumers and their needs. They plan to raise the next round of funding soon and achieve an annual revenue operating rate of 1000cr in the next 5 years. It’s a Rever. Constantly working with their manufacturing partners to introduce an India-first range of products across the home, kitchen and lifestyle categories. Its network of 10,000+ retailers, which will reach 15,000+ by the end of this year, will ensure seamless service to customers across the length and breadth of India and will be a key player in India’s $100bn D2C market opportunity.
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