Mumbai-based consumer tech company, XECH Technologies, has announced its projection for a 100% increase in revenue for the fiscal year 2024. The company currently reports a revenue stream with B2B sales at INR 38 crore and B2C sales at INR 12 crore. XECH anticipates a significant growth, projecting B2B sales to hit INR 50 crore and B2C sales to rise to INR 53 crore, aiming for a total revenue exceeding INR 103 crore.
Key Highlights:
- Projected Revenue Growth: Xech expects a 100% increase in revenue, targeting over INR 103 crore.
- B2B and B2C Sales: Current B2B sales at INR 38 crore, projected to reach INR 50 crore; B2C sales at INR 12 crore, expected to climb to INR 53 crore.
- Product Expansion: Planning to introduce over 95 products across 5 categories.
- Market Strategy: Focusing on expansion in tier 2 and 3 cities, tapping into a growing market segment.
- Company Outlook: Emphasis on innovation and customer-centric approach.
XECH’s growth strategy includes a 4X expansion of its Direct-to-Consumer (D2C) segment, leveraging both General Trade and E-Commerce platforms. The company places a strong emphasis on innovation and quality in its products, alongside prioritizing customer service and post-purchase support.
The company is preparing to launch over 95 innovative products in five different categories, addressing evolving consumer needs and market trends. Recognizing the potential in tier 2 and 3 cities, XECH is strategizing to expand its reach beyond metropolitan areas. This move aligns with a McKinsey & Company report, which highlights the increasing number of middle-income households in these regions.
Pranay Punjabi, Founder of XECH, commented on the company’s strategy, “Our anticipated INR 100 crore revenue signifies a strategic fusion of cutting-edge products, a customer-centric ethos, and an expanded market presence. We are planning to expand our market beyond metropolitan areas through strategic partnerships with retailers and distributors in Tier 2 and Tier 3 cities.”
XECH’s R&D teams have developed new-age products that cater to modern consumer demands. The company, since its inception, has maintained a consistent 100% year-on-year revenue growth. This growth trajectory is supported by the brand’s focus on meeting and exceeding consumer expectations. Key products from XECH include advanced massagers, portable travel kettles, handheld vacuum cleaners, and multifunctional lamps and speakers, reflecting the company’s commitment to technological innovation and market responsiveness.
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