Goldmedal Electricals’ Focus is on IoT and Fast Installations

Kishan Jain, Director, Goldmedal Electricals, in a conversation with Electronics For You sheds light on the company’s future plans. The company has 30 experience stores in India

Goldmedal Electricals achieved an annual turnover of Rs. 1,400 crores in FY 2018-19. The wires, cables and smart electrical switches company, is aiming to reach Rs 2,000 crore revenue in FY 2019-20. Asked how it plans to achieve the same, Kishan Jain, Director, Goldmedal Electricals replied, “Our aim is to cover all the districts in India as soon as possible so that we have complete pan India presence.”

Referring towards Goldmedal’s present sales channel, Jain said, “We have 22 branches across India with a 600-strong sales force which is growing at a rapid rate.” As a matter of fact, the Andhra Pradesh headquartered company, is also open for adding more sales partners in its network.

The focus on IoT and fast installations

Goldmedal is completely aware of the rising IoT trend in India. India, in the eyes of Jain, has already become familiar with IoT enabled products and is looking for smart technology products that provide luxury and comfort at the same time.

He said, “Indians, especially millennials, are technology-savvy and hence brands should make use of this opportunity and introduce innovative products and solutions that meet the ever-evolving needs of consumers. The architects and interior designers also play a huge role in creating awareness of these products amongst their clientele. We feel awareness of our products – especially that they can be installed in a matter of hours within their existing wiring system – will be the first step.”

The company apart from offering smart electrical switches and wires, is also retails home-automation products, doorbells, and accessories like spike guards, night lamps, and extension cords.

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Established in the year 1979 in Vijayawada, Andhra Pradesh, Glodmedal Electrical first started off as a retailer of electrical brands in the country. In 1981, it ventured into the wires and cables business before adding electrical switches to its portfolio in 1993-94.

The company, recently launched its brand mascot – Wireman. Jain shared that Goldmedal Electricals, through such activities, is looking to strengthen the company’s brand identity among its key stakeholders with the launch of its brand mascot

He said, “The overall character of ‘The Wireman’ is designed to trigger interest and represent Goldmedal in a holistic fashion. Aesthetically, the mascot represents wires and cables while his superhero looks represent the product’s features which include superior quality, safety and strength.”

Looking to improve reach in Orissa, MP and Bihar

The company, as shared by Jain, enjoys a strong presence in South, West, North West and Eastern parts of India. It has 22 branches across India with a 600-strong sales force which is growing at a rapid rate. However, Goldmedal Electricals is keen on improving its presence in Orissa, MP and Bihar.

Jain said, “We want to improve our reach in Orissa and some of the central Indian states like MP and Bihar. We are also targeting to expand into foreign markets such as United Arab Emirates, Nepal, Bhutan and Bangladesh in the next couple of years.”

Jain also told Electronics For You that Goldmedal Electricals operates over 30 experience stores in the country. The company is also working in finalising locations to open more of these.

He said, “We are aggressively adding such stores that will help our channel partners as well as our customers experience our products in an exclusive setting. “

Jain continued, “Our sales channel is focussed on working with dealers and retailers and we are continuously looking to add the right kind of dealers/retailers who match our standards. We have a well-defined selection criteria and a strong digital backbone that helps us interact seamlessly with our huge network of dealers.