Chennai: Home products market in India is a booming business. But organised home product players are quite few in number. With the industry set to grow with increasing population and change in spending pattern aiding it, News Today spoke with a succesful new entrant to the industry, Chennai-headquartered Vaya Life Private Limited.
The founder and CEO of the firm Vashist Vasanthkumar, had a brief interaction and here are the excerpts.
Q) Having started a home products firm, explain to us about the reason for chosing the industry. Was it the headroom for growth that pulled you in?
A) Our country needs better products and brands; consumers are willing to buy smartly designed products with sustainable design that impact their everyday life. At Vaya, we wanted to reinvent home products that are used in daily life with high-end design and functionality. We incorporate aspiring elements into Vaya products with high precision engineering and design.
Q) How big is the home products market in India? Could you give the split between unorganised and organised segments?
A) Boom of rising middle class in the last few decades paved way for growth in home products market in India. Growing aspiration and incomes have changed spending patterns have infused growth in this sector. Right now the home products market in India is on the upswing in which organised sector is in nascent stage. However now consumers are looking forward to better quality products, it has increased the demand for branded and premium products.
Q) What do you think is the USP of your firm?
A) Vaya’s major strength lies in the in bringing together of engineering and world class design. Our products go through stringent quality checks to ensure consumers get more than what they pay for. We will always be present in the premium segment, we see overwhelming demand in this segment since consumers look for products with high functionality and design. Our range includes premium lunch box, insulated water bottle(s) and storage containers (that) double up as portable lunchbox(es). Our VacuTherm technology helps to keep food warm, cold or fresh up to six hours. Our products are now marketed and sold in more than 15 countries. Recently we launched Vaya Drynk for kids with Pediasafe lid to help complete oral development.
Q) Do you think there is a place for premium lunch boxes in India?
A) Consumers choose products which are the reflection of themselves and look at smarter ways to live. They look forward to bold designs, with high functionality and latest technology. Vaya has reimagined the traditional lunch box and brought in Vaya Tyffyn, which has all the functionalities of the traditional lunch box apart from being a style accessory. Manufactured in the state-of-the-art plant with expertise from professionals based out of India, Germany, US and Japan. Vaya Tyffyn is now sold globally in more than 15 countries.
Q) What is your idea about plastic tiffin ware in this age of eco-friendliness?
A) Cheap plastics are not good for health. Lot of engineering has gone in to making Vaya Tyffyn. The leak resistant lids are made of silicon and eco-friendly materials to keep the food healthy. Our containers are made of high quality stainless steel with copper finish to provide complete experience of having home-made healthy food.
Q) What are your short- and long-term goals for India and abroad?
A) We will continue to be premium player in the market and try to expand our presence in major cities across length and breadth of India. We are aggressively pushing our distribution to attract more customers across the world.
Q) Finally, tell us about your manufacturing capacity and plans on that front.
A) Our manufacturing facility is currently based out of China. We ensure that our products are manufactured in our own facility essentially to have a control over quality.
|“According to a study, India is the fourth largest base for start-ups in the world. Every aspiring entrepreneur wants to make it big in this market. Opportunity for growth is tremendous. Success of start-ups depends on how the company addresses market needs, products developed should suit the target customers (product positioning) and optimization of operational cost to maximise revenue,” said the CEO of the firm when asked about startups.|
|Importance of Chennai|
|Vashist said Chennai is an important market for Vaya. “Our firm is headquartered in Chennai, our first flagship store was launched here two years ago. Vaya range of products are available in all the leading retail outlets across the city. For Indian operations we have set-up our warehouse in Chennai.”|