- Fingers is one of the youngest smartphone accessories brand in India
- The company is focusing on capturing 10 per cent of this market in next three to four years
Sandeep Parasrampuria (SP), founder and CEO, Dynamic Conglomerate, in an exclusive conversation with EFY Group shed light of how he plans to make Fingers a hit brand in India. Fingers, incepted this year, is the youngest brand in India to retail accessories including Bluetooth headphones, speakers and chargers.
He added, “We brainstormed a lot on the brand philosophy before finalizing ‘Fingers’ as our brand name. People today consume digital technology with their fingers by touching, feeling, carrying and playing with their gadgets. Fingers today are the main connect between technology and the human mind. We are sure, you make gestures with your fingers, consciously or subconsciously for showing direction, expressing love, etc. Fingers communicate a lot – It’s a language!
Here are some more interesting excerpts from the interview
Que 1) What is the vision behind Fingers?
SP – Our vision is to make ‘FINGERS’ number 1 digital accessories brand in India in two years’ time. The telecom and IT accessories market are huge in India. Presently, the size of telecom accessories market in India is Rs 20,000 crores and it is expected to cross Rs 30,000 crores by 2023.
We see a huge scope for us as there are very few national brands in this segment. Our approach to the consumers is FMCG modeled and our whole initiative is to be present across multiple channels. Fingers aims to capture 10 per cent of this market share.
Que 2) What’s your plan to capture 10 per cent of the market share in the accessories segment?
SP – As per a recent survey, the market share of the branded segment is 30-35 per cent and the remaining is unbranded. The size of the branded segment is 7-8 thousand crores that is where we plan to achieve 10 per cent of the market share within 3-4 years.
We are very focused in creating a strong distribution network in the online as well as offline channels. We also have very strong plans to penetrate the accessories market using the FMCG model. The key aspects to follow our road-map would be Innovation and differentiation. This is one of the main reasons why we began our journey with the launch of six first timers in India, three of which are first timers in the World as well.
Que 3) What are you doing in terms of marketing?
SP – The first phase would be to ensure proper distribution and availability. It will be supported with initiatives for visibility and awareness for the brand. We shall have key focus on digital media and on little initiatives in some mass media too.
After the quality of our products, brand image is of utmost importance to us. Our marketing will be based on educating consumers about the quality of our products range.
Que 4) How would you approach for online & offline channels? Where would your major focus be?
SP – As per market information, online channels contribute to about 15-20 per cent of the sales and the balanced 80-85 per cent are offline. In no way any brand can shift its focus on from online.
Taking into consideration the potential offline channels still possesses, we will be very focused on all the available offline channels. Our vision is to make Fingers the number one brand in India, to achieve this goal we have to present our products wherever the consumers are available and we will do so. In short Fingers will be present in all the channels where the consumers want it to be!
India is a huge country with a massive amount of mobile and mobile accessories users around, we have to ensure offline availability of our products across the country. Having said that the online channels will not be overlooked.
Que 5) What is the difference between ‘Fingers’ sales distribution compared to other brands?
SP – Distribution and a dynamic sales team will be the two pillars to make Fingers the No.1 digital accessories and peripherals brand in India within next two years. We are ensuring that everyone that associates with us has complete support in terms of sales and service from Fingers.
We will work to approach sales similar to a FMCG model to move towards our goals and targets. Our team will always be available to support our distributors and everyone in our retail and service network. We will focus on the retail part, but our focus on the service part will be more.
Que 6) Any specific geographical area you would like to first target in India?
SP – Our first target is to be present in 12 plus states within the first two months of our brand launch. Fingers will be available across India in the upcoming four to six months.
Hopefully, within a year and half we should be present in more than 500 cities in the country. Our focus, at the moment, is on building a sales network that is present PAN India.
We will also enter the rural market in India in upcoming phases of our expansion. In fact our long-term plan is to be present in over 1000 cities and towns and one lakh counters within next two years.
Que 7) Are you looking for a brand ambassador for Fingers in India?
SP – There are obvious advantages to have a brand ambassador. We will surely consider one for Fingers at the right time.
Que 8) Take us through your experience before launching Fingers?
SP – I am a qualified Chartered Accountant with an experience of over three decades in the digital field. I have previously founded a highly successful technology brand that is now regarded as one of the top Indian brands in consumer electronics and digital gadgets.
Que 9) What is your take on IoT/smart technology? Do you plan to launch more smart gadgets anytime soon? How about smart watches?
SP – One can clearly see the technology and gadgets moving towards IoT/smart features. The opportunity with IoT is huge. We also have plans to move towards smart gadgets after a period of time.
On the journey to being India’s most Innovative digital accessories brand, Fingers will keep introducing the latest technological gadgets to Indian consumers while being platform agnostic. As I mentioned, we want to be accessible and available on all platforms used by our target markets.
No, we are not launching smart watches in the first phase of our brand launch. However, it is a very interesting segment and hence we are keeping a very close eye on it. We may consider developing smart watches in future.
Que 10) Where is the manufacturing of Fingers products taking place?
SP – Like a lot of other brands, our products are currently manufactured in China. We are very keen on the ‘Make in India’ opportunity and at the right time we will begin manufacturing in India as well.