Videomax launches consumer electronic brand Skyball, plans to invest Rs 100 cr in 3 years

New Delhi [India], May 12 : Homegrown firm Videomax International (VMI) on Friday announced the launch of its electronic brand Skyball and committed to invest Rs 100 crore in the brand's growth over the next three years.
"We are delighted to introduce Skyball, our latest consumer electronics brand, which will revolutionise the smart accessories market in India," Sandeep Gupta, Chairman and Managing Director of VMI and Skyball, said, adding, "At VMI, we are dedicated to delivering innovation, quality, and customer satisfaction, and Skyball embodies these values."
Skyball's first range of products will bring home audio products, which will be launched later this month. According to a statement from the company, the home audio portfolio will feature party speakers, tower speakers, Bluetooth speakers, soundbars, and more.
With seamless connectivity, long-battery life, these audio products will offer customers the best-in-class music streaming experience possible, it added.
The company said Skyball also plans to expand its portfolio in the wearables category with the launch of its smartwatches in June 2023 with an initial concentration on online platforms, followed by a pan-India expansion into offline stores. The firm claimed that these smartwatches will include the latest technology and health-centric features, such as fitness tracking, heart rate monitoring, and more.
According to the statement, the home audio category is projected to account for 30 to 40 per cent of the total revenue, while 60 per cent of the revenue is expected to come from the smart accessories business. Smartwatches and neckbands are expected to be the primary contributors to the smart accessories category, it added.