Staunch, a leading online and offline distribution company has forayed into smart accessories and personal grooming category to tap into the young population and is eyeing 5 percent market share in the next 2 years. The brand plans to launch its array of innovative products in each of the categories, ranging from Rs 99 to Rs 4,999.
Personal grooming products market in India is estimated at Rs 1,500 crore and growing at the rate of 25-30 percent per annum. Also, the smart accessories market has huge potential keeping in view the growth of connected devices in India. By the year 2025, 1.9 billion devices are expected to be connected in India alone. The current unorganized market in both the segment, bestow a lot of opportunities for players to provide smart products and solutions at the right price to customers.
The company is committed to providing best-in-class products at competitive prices to cater to the youth. The product range will be available on the leading e-commerce platform – Flipkart from June 2020 onwards.
Commenting on the same, Kartik Agarwal, CEO, Staunch stated, “Personal grooming and Smart Accessories categories are the fastest-growing segments driven by our young population and cost-sensitive audiences. We have contributed to the substantial growth of global as well as Indian brands for their most effective retail and distribution strategies. Now, we aim at creating a new mark in the industry by leveraging these fastest propelling segments. We would not just sell generic accessories but will bring a plethora of innovative products by the end of this year.”
We plan to leverage our strong distribution expertise to sell these products in the Indian market, he added.
The products are designed and produced keeping the urban and young audiences in the mind. The company will offer 1 year table replacement warranty on its smart accessories and 2 years replacement warranty on its personal grooming products. Also, with its strong distribution network, the company is focusing on not just metros but also Tier II/III markets.