California-based television firm Vu Technologies is aiming for Rs 2,000 crore sales in the next three years based on its new additions in portfolio and expansion in offline segment.
The company, which claims to be the fourth largest Premium TV brand on online platform, is also doubling its brand outlets to 40 by the end of this year, as it expects sales from offline channel to grow in coming years.
"We are aiming for 10 per cent market share of the large screen panel industry. Going by present growth rate, we would be around Rs 2,000 crore by 2019-20," Vu Technologies CEO and Design Head Devita Saraf told PTI.
She further added:"We have had 350 per cent year-on-year growth since 2013 aiming for a turnover of Rs 600 crore in 2016-17 fiscal." The company, strengthening its portfolio further, launched a range of its premium UHD series and curve TV.
"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 is expecting that half of that would come from the top eight leading metro markets.
"However, non-metro markets have good potential and that is increasing very fast," she added.
Presently, the company has around 200 dealers pan India and its product are available at 800 point of sales, she added.
"Right now offline contributes 30 per cent of our sales and rest 70 per cent comes from online. However, we do expect the offline sales to grow from the next year," she added.
Besides, the company is expanding its brand store and planning to double to 40 from the existing 20.
"They are a mix of company-owned and franchise. Our new stores would target the metro and tier II places," said Saraf.
The company imports its 100 per cent components and assembles them at its Pune-based unit.
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