Xech eyes a remarkable INR 100 crore revenue for 2024, expecting a 100% increase in growth
BILKULONLINE
Mumbai, Jan 24: XECH Technologies – an innovation-first consumer tech company, an Indian brand headquartered in Mumbai, announces its optimistic outlook for 100% revenue growth in the upcoming fiscal year. Presently, Xech boasts a robust revenue stream, with B2B sales contributing INR 38 crore and B2C sales adding INR 12 crore. Looking ahead, the company projects a substantial increase, with B2B sales expected to reach INR 50 crore and B2C sales forecasted to climb to INR 53 crore, consolidating revenue of over INR 103 crore.
The company, known for its innovative products and commitment to excellence, anticipates a significant surge in revenues, aiming to double its current figures. Xech’s confidence in achieving this ambitious revenue target stems from its dedication to innovation and growth strategy. XECH’s main focus is on 4X expansion of its Direct-to-Consumer (D2C) segment, strategically utilizing both General Trade and E-Commerce platforms emphasizing the Innovation factor and high-quality features of its products. The company is committed to providing top-notch customer service and post-purchase support, ensuring a positive and satisfying experience for every consumer.
Xech is gearing up to introduce 95+ ground-breaking products across 5 categories that address evolving consumer needs and market trends. As an Indian brand with a primary focus on affordability and accessibility, XECH recognizes the untapped potential in tier 2 and 3 cities. XECH’s growth strategy to expand beyond metros involves a multi-faceted approach, with a key focus on rurban areas. According to a report by McKinsey & Company, the number of households with annual incomes between INR 10-25 lakhs ($13,500 – $33,700) in tier 2 and 3 cities is expected to increase from 80 million in 2018 to 140 million by 2025. This presents a huge opportunity for brands to tap into this market. It becomes imperative to prioritize expansion into tier 3 cities as the primary strategy for scaling up business, particularly if your current presence is limited to tier 1 and metropolitan areas.
“As we navigate the path ahead, Xech is poised for a transformative journey marked by a steadfast dedication to innovation and excellence. Our anticipated INR 100 crore revenue isn’t a mere statistical projection; it 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 landscapes through a strategic partnership with retailers and distributors in Tier 2 and Tier 3 cities. There is an upward mobility trend observed among Indians, with a preference for high-quality products in the premium segments of broad categories, particularly in travel and leisure. At Xech, we believe authentic success transcends numerical benchmarks, finding its essence in the enduring impact we make. Each innovation mirrors our unwavering commitment to pushing the boundaries in the ever-evolving landscape of technology.” said Pranay Punjabi, Founder at XECH.
XECH’s research & design teams have created new-age products which add convenience & appeal to the audience. Since its inception, XECH has experienced an impressive 100% year-on-year revenue growth, a testament to the brand’s resilience and its ability to capture the pulse of the market. This meteoric rise is underpinned by the brand’s unwavering commitment to providing products that not only meet but exceed the expectations of consumers. Among XECH’s star products are futuristic massagers, portable travel kettles, handheld vacuum cleaners, and multifunctional lamps and speakers. Each product in the XECH repertoire showcases the brand’s commitment to pushing the boundaries of technological innovation. These offerings not only showcase the brand’s prowess in product development but also cater to the diverse needs of a broad consumer base.
