Believing in creating his own roadmaps, Arjun Bajaj, the CEO & Founder of Daiwa India is one of the zealous entrepreneur who refurnished the company as one of India’s largest business. In an interview with Insights Success, Arjun Bajaj have shared some insightful views and highlighted the influences made by their company to be the most recommended law solution provider.
- Kindly brief us about the inception story of DAIWA?
Daiwa began its journey in the year 2016 on the pathway to sync the ongoing problem in the TV Industry. We realized that the TV Market was going through a very troubled time period, wherein most of the brands were sourcing final products from China and assembling in India and calling it ‘Make in India’ and lacked implementation, which is where we felt the need to build a brand which truly resonates the ‘Make in India’ philosophy not only in terms of its design and performance but also functionalities designed as per the needs of the audience. Daiwa comes from the parent company Videotex a popular ODM brand which has been in the Industry for over 35 Years. Today Daiwa, brings the complete back end integration for manufacturing LED TV’s in India and are currently having a capacity of manufacturing 75000 in a month and are further planning to invest more in factories. Today Daiwa, is reckoned among top 10 TV Brands in India, and has established a very strong foothold, at Pan India Level.
- Kindly talk about the journey of the CEO/Founder and his/her initial days, success stories, and challenges.
Even though Daiwa is backed by 35 years old parent company Videotex (a leading ODM of LED TVs) the journey has not been smooth sailing, rather has, had its own share of challenges too. In the initial days, had a One-man army functioning being a startup. Right from the cataloging to designs to order processing to dispatches and after sales service everything was managed by Arjun himself. With his hardship and immense faith, today Daiwa has a very strong team of over 100+ people, governing the functioning of the Brand.
The other aspect being, the brand faced lot of resistance from the Market inspite of being quality and best priced, it was difficult to move sale, since it was much unknown to the end user. Overall that made it quite difficult to establish alliances with the online partners. Over a period of time, our products drove the strong word of mouth, and Daiwa as a brand saw acceptance in the Indian Markets. Today Daiwa sells its products in all leading retail stores and online portals, not just that it also sells units from its own website. The journey has been exciting, but extremely challenging considering the ongoing situation of the Indian Consumer Durables market as well.
- What kind of ethics, principles and manner of working does he/she observes while running the business?
For me, Honesty is a key characteristic of a business because it has helped me set the tone for the kind of work culture we have established at Daiwa. It has helped us provide consistency in workplace behaviour, and build loyalty and trust in customers and prospects. Apart from this, Arjun is highly punctual and strongly believes in Transparency in any operations.
- Share with us the accomplishments and achievements of him/her and the company’s achievements under his/her leadership.
Arjun does not believe in blowing his own trumpet. Some key accomplishments which he calls value adds in his Journey includes; Successfully launched 2 Brands in 3 Years and have been nominated for the several award categories when it comes to the product range. Daiwa has received an award for ‘The most affordable Brand of the year’ by Mobility India. Another achievement is innovation of 4k UHD Quantum Luminit TV, which created a huge buzz for our brand in the market, since it was a First Timer to India. These milestones have overall, contributed to the value and business of the organization.
- Please tell us about the services you provide that makes the brand unique in the mid of cut throat competition.
Daiwa has always focused on building the latest in technology at most prudent prices, exclusive to the Indian markets. In terms of the uniqueness, its two-fold, balancing both the Products and services. Among products, we have brought several new technologies in India which includes Wide Color Gamut to Pictures, Tailoring the speakers as per the Indian needs, Unique remote with direct app keys and keyboard with easy surf on Smart TVs, balancing voltage fluctuations for TV as per Indian power conditions etc. Our Goal has always been to go the extra mile in terms of the deliverables to the consumers. We do not want to follow the stereotyped industry, and each one of our products resonates the same viewpoint.
Among services too, we have gone a step ahead and launched our own Daiwa App, a service app which allows customer interface 24×7, which got us phenomenal response. Apart from this, our additional product Warranty too has established consumer confidence on Daiwa products. We promise to provide value for money to customer in addition to best in class technology. Daiwa’s main objective is to break the myth that the finest products only comes at a hefty price.
- State us about the most memorable and remarkable moment of your life.
The most remarkable moment for me was when my father said to my mom, ‘He is proud of me’, which added to the best moments of my life. Also, our brand was registered among several awards & accolades which boosted our confidence too. These remarkable moments, are indeed priceless.
- Where do you see yourself and the company in future? Or, what is your goal to mark the uniqueness in future?
Our consistent efforts to escalate the brand to create a distinct name that stands out of the crowd are progressing. We expect the upcoming years to be more opportunistic and positive for the market. Moreover, with the amassing advancements, we envision the sector to be omnipresent at the global platform by 2020. Since India’s electronic business is one of the largest across the globe, and to subsequent this growth, we are going to increase our sales base in different states, since business today is all about an above reproach mix of technology, innovation, quality and cost. Also, viewing the dedication and commitment to provide our customers state-of-the-art products, we have envisioned being available in India within a span of few months.
- If you had one piece of advice to someone just starting out, what would it be?
‘No matter how bad the situation gets, Never give-up’. I have followed this ideology and I strongly believe when the going gets tough, the tough gets going. One should truly believe in their dreams and work towards it to make it a reality.
- What is the one thing that is acting as your motivational tool? Or, who is your role model and how the person inspires and motivates you?
Well, seeing my Father build the business empire – ‘Videotex’ which has been steady and strong for lass 35 years has indeed been the strongest motivational tool. I have understood his formula to work ‘Don’t follow success, rather let success follow you’. He has imbibed these learnings in me, which has helped me today stand on my own establishing the brand Daiwa. In terms of my role model, that goes without saying it’s my Father, who has been my only inspiration in life.
- Share your views on the current business scenario in India.
India has emerged as the fastest growing major economy in the world. There is a growing competition in every sector leading to price sensitivity with cluster of brands and too many changes in policies and taxes, which has overall tainted the scenario. However, in another 2 years we shall outgrow from this, with lot of competition shedding off the market, that’s when the Consumer Durables Market shall enter a new phase and so shall India for Electronics.