Home Utility product maker Bonita India has made its strong foothold in India as well as abroad with its presence over 25 countries including USA and UK. In his interaction with Akash Sinha, Bonita India’s JMD Umang Srivastava talks about company’s revenue to future plans. Excerpts:
Home Utility product maker Bonita India has made its strong foothold in the country as well as abroad with its presence over 25 nations including USA and UK. Its products are available at Big Bazar, Shoppers Stop, Hyper City, Home Stop, Home town and it has tied up with various ecommerce portals including Snapdeal, Amazon, Pepperfry, PayTM, e-Bay and Home Stop 18. In his interaction with Akash Sinha, Bonita India’s JMD Umang Srivastava talks about company’s revenue to future plans. Excerpts:
Q. Are you planning to expand your base to countries other than where you already have a presence?
We already have a substantial presence across the globe. We are selling in North America, (including USA, Canada and Mexico), Europe (all the countries including Eastern Europe), Australia and New Zealand and the Middle East. So, instead of expanding further, for the moment, we plan to focus on these regions and take up leadership positions in some of these countries.
Q. What is your current revenue? What is your revenue target for next year/next two year?
We are targeting for a 100 crores turnover within the next two years and grow to 250 crores within five to six years.
Q. What is your investment plans?
We plan to invest 4 to 6 crores towards building up new products and product categories apart from working on BTL activities so that we can reach out to more consumers and create greater product awareness.
Q. Are you planning to tie-up with more e-commerce portals?
We plan to acquire more e-commerce customers in Europe and USA who need a much larger assortment to feature there. This should happen in the next few months. Recently, Bonita India has become the only Indian brand to sell through US retail giant Bed Bath and Beyond.
Q. Are you planning to open exclusive brick and mortar stores in India?
Yes. We are in the process of setting up exclusive Bonita stores. This would be through the franchise route. We are also planning to expand our franchise network and aims to open 25 new exclusive Bonita store in India. Last year, we have opened our first exclusive store in Pune.
Q. Any CSR initiative?
We always believe in serving the society and giving back to them. It is very crucial on our part to serve the communities and actively contribute towards the same. We have an interest in the field of education especially for girls and also, we are keen to promote entrepreneurship among youths and also planning to do something big in these fields.
Q. What is the upcoming employment opportunity with Bonita India?
We will have ample opportunities in Sales, Marketing and Product Development as we take the business to the next level.
Q. How do you visualize the Indian e-commerce market over the next few years?
I think, it will grow as stabilise once customers start accepting that they will not get more discounts. It would be the reasonableness of the price and the added convenience of ordering online that would draw them to it.