Vu’s bet on luxury televisions pays off, yields 37% YoY growth, 3x pre-COVID profits
Devita Saraf's Vu Televisions focuses on luxury and large-sized TVs, with 80% of revenue coming from 50-inch screens or higher. It has seen a 3x jump in profitability and is gaining market share in the premium segment
Vu Televisions has always been focused on the luxury and large-size TV audience
Founded by Devita Saraf, Vu started when the market of flat panel TVs in India was 300,000 units and the starting cost of a flat panel TV was Rs. 40,000. Vu focused its R&D and customer service on high-end products like the 84-inch TV launched in 2012 and sold its products through select retail outlets in tier 1 cities. This strategy and focus led Vu to become a Rs. 100 cr company by 2015.
Vu then applied its experience to build an entire range of TVs starting from 32 inches and pioneered selling TVs via e-commerce marketplaces. This enabled Vu to grow to a customer base of more than 3.5mn, with 60 per cent of the revenue from 32/40 inch TVs and as a result, Vu grew to Rs. 940 cr in revenue by 2019. Vu continued its focus and innovation in large-sized displays with the launch of the Vu 100-inch TV (costing Rs. 20 lakh) in 2018.
Post-COVID Vu decided to exclusively focus on the premium and large-sized TV segment catering to upwardly mobile Indian consumers. More than 80 per cent of Vu's revenue comes from 4K TVs above 50 inches in size and Vu has discontinued manufacturing 32"/40" TVs completely. Vu's 85-inch Masterpiece TV is one of the largest-selling 85-inch TVs in India, and its Masterpiece Glo QLED range (starting at Rs. 65,000) has become the largest-selling premium QLED online with over 9,000 customers in one year. Vu is exclusively focused on the luxury and premium TV segment and is gaining market share alongside Sony, Samsung, and LG.
With this strategy, Vu has seen a 3x jump its in profitability compared to 2019. Vu is a unique anomaly as it is profitable, debt-free, and is exclusively focused on the luxury and premium segment.