Technology is hovering modern time and people are hardly devoid of using any technological stuff. Astrum is one of those companies which give a push to the modern use of technological products. Coming with cutting edge solutions when it comes to products like audio devices, mobile accessories, LED lights and very recently focusing on IOT based products.
In an interview with Insights Success, Mr. Manoj Kumar Pansari, the CEO of Astrum gave some insightful answers highlighting the influences made by his company to take technological upgradation to a new level.
- Kindly brief us about Astrum. Enlighten us with the foundation story and the brief details of the initial days of the company.
With a widespread presence in over 40 countries across the globe, Astrum has redefined ‘new technology’ in the Indian Market. Also, focusing on and setting up a strong foothold, Astrum centers on R&D with strict quality assurance practices. Staying on the cusp of technology has allowed the brand to do what we love best: using technology in countless ways to ease people’s life. Encouraged by our success as leading mobile & IT accessories player in the Global markets for a decade now, Astrum aims to leverage its strengths and experiences from the global market and replicate the same in India. With the key vision, to think smart and challenge the traditional norms by creating high quality products that are innovative and serve the purpose of enhancing the way people live, Astrum aims to make people ‘Experience the Difference’. Undoubtedly, our products tailored with the new age technology at optimum price points have struck the right chord with the consumers in the Indian Market. Astrum has been successful to break the trade-off between innovation, quality and cost. Our widening product portfolio has seen a positive response amongst consumers and acceptance from the Indian Markets. We are quite optimistic about our ventures and are expecting a steady growth for our products. Today Astrum has proudly earned its place amongst the leading brands for accessories in India. Astrum is more than just a company name – it’s a brand that promises an experience to people.
- Brief us about the Founder/CEO of the company? What kind of ethics, principles and manner of working does he/she observes while running the business. Please share with us the major contribution of him/her towards the development of the company.
Mr. Manoj Kumar Pansari, CEO of Astrum is a serial entrepreneur and also the visionary in the true sense. Under his leadership, Astrum has grown to a company whose goal is to break down the barriers between people & technology. Maintaining the principle of creating one’s own roadmaps, he is attributed as one of the Industry leaders. Astrum’s growth internationally over a period of 10 years in 40 countries is only due to the hard work & guidance of Mr. Pansari. His key vision for Astrum is to think smart & challenge the norm by creating exceptional products. Enthusiastic about growth, Mr. Pansari is a unique combination of business expertise and a creative mind. He is skilled at using his knowledge, skills and proficiency to make the best use of people’s potential.
- Share with us the struggle or hardship story that worked as the strength behind the success of the company
The mobile Accessories Market has witnessed immense transformation over the past few years. Earlier a couple of big brands dominated the market share but now things are quite different in India. The market witnessed an influx of newer brands with more technological prowess and today the consumer is spoilt for choice. Consumer’s consumption behaviour has also changed drastically. Today, consumers are more experimental in trying out new things and new technologies, rather than betting their allegiance on brands that have existed for years.
In light of the above-discussed issues that could also be summarized as challenges, Astrum has put all the efforts to break the trade-off between innovation, quality, and cost. Astrum is known to provide robust, reliable – yet affordable high tech devices at the optimum price points. The key challenge is the price-sensitive nature of the Indian Consumer where quality takes a beating to accommodate more aggressive price points, which is where Astrum has been focusing all its energy in bringing balance between the both. Also, we aim to spoil the consumers with choice; Part of this extensive portfolio is our unparalleled range of over 800+ unique products across 8 major categories. Lastly, we are working on establishing a strong retail presence at the smallest touch points to be available where the consumers are.
- Please tell us about the business model you follow and the service you provide that makes the company unique in the mid of the cut-throat competition.
Astrum is currently focusing on building a strong channel network. We are a very channel-friendly company and believe in growing with our channel partners. We consider our channel partners as an important part of our ecosystem. From offline to online, Astrum has set a firm foothold in the Indian market. Being one of the competent brands present today, we are currently persistent to reach 10x growth in channel breadth during the 2018-19 fiscal year. To achieve this, we have a multi-pronged approach to make a Win-Win situation for both channel and the brand. Also, we plan on setting up our very own manufacturing unit with a focused R&D Centre, to bring attention on innovation and newest trends.
- Tell us about the services you provide through your venture.
We are a product manufacturing company, hence all the services that we provide are built around our products. Like for instance, we are constantly developing Mobile Apps to enhance user interface of our products. We are also constantly building various software application and interfaces which enhances the efficiency of the product along with providing a better user experience.
- Is your company part of any philanthropic service?
We believe in philanthropy which is fine tuned. Through integration, use of technology, partnerships and more we have been a part of several charity events at Global Level.
- Where this company is different than any other company in terms of everyday work culture?
Our Workspace works on Flexibility and Individuality mantra. It’s the casual atmosphere that enables us to nurture top talent and lead the IT World in innovation. Our flexible work schedules for working moms, stay-at-home dads and lengthy commutes have helped us differentiate than the other Brands.
- Brief us about the future of the company or the goal it has set to mark its exceptionality in future.
We have recently established our presence in the North and South Region and have also made deep in-roads in Tier 2 and Tier 3 cities. The brand that connects to the right consumers at right touch points will enable 360⁰ communication to increase brand penetration. As mentioned earlier we are also setting up our manufacturing facility in India which would help us reduce the Turn Around Time(TAT) between new technologies and the Indian consumer. The facility is also going to cater to our global markets and will abide by our stringent quality standards.
- Advise for the budding entrepreneurs who are trying to embark in the same field.
Business ideas alone are worth very little. If you want to start a business and become successful with it, you need to solve meaningful problems for your target audience. Execution is everything in business. Also, it takes a lot to start a business and grow it to profitability, the most impactful lessons have come from my biggest failures though.
- The accomplishments and acknowledgements of the company.
Astrum has been the proud recipient of many an award on a global level, starting from Design Innovation awards for specific products to Business Achievement awards, from Editors Choice Awards to Jury Awards, we have got them all. It is these awards which provide us the confidence that we are on the right path while giving us the necessary impetus for us to reach higher.