Lyne, a newly established consumer electronics brand, has entered India’s tech industry with a bang. The brand offers high-quality mobile accessories at competitive prices and aims to change the game in the market. With over 50 products in 10 different categories, including earbuds, headphones, neckbands, speakers, USB drives, data cables, and power banks, Lyne’s products are expertly designed to provide both fashion and convenience.
Meet Vij is the Director and Co-Founder of Lyne, along with his father, Navin Vij, and uncle, Paresh Vij. He hails from a family of businessmen who have established their brand in the market for several years and are based out of Rajkot, Gujarat. Being a young entrepreneur at the age of 22, he has ambitious plans to build a global brand.
Meet holds a deep understanding of business and commerce and looks over the marketing, e-commerce, sales, and distribution for Lyne. Prior to this, he handled the marketing, e-commerce, and research and development departments of U&I. While working on the products, he felt the need to have a sub-brand that bridged the gap between design-centric youth products and affordable prices, and therein he came up with Lyne.
Meet, with the help of his father and uncle in the business, wants to establish Lyne as a globally recognised brand. We are publishing an interview with him:
Q.: What is the problem you are trying to solve? Please share with us any insights that led you to believe that this is a big enough problem?
Ans: Consumer-durable products, especially mobile accessories, are something that people look into very carefully before buying. They have trouble looking for products that are of premium quality at affordable prices due to lack of availability of such products. Lyne aims to be a solution to this problem.
Lyne is a newly established consumer electronics brand that provides its customers with high-quality, design-focused mobile accessories at competitive prices. We have more than 50 products in 10 different categories, such as earbuds, headphones, neckbands, speakers, USB drives, data cables, power banks, etc. Our products are expertly created to provide a fashionable, yet bold appearance that compliments the convenience of using them.
Q.: What is your USP?
Ans: Lyne’s product USP is to reflect the high quality of our products. We pledge to our consumers that we will give them a product that is first-class, contemporary, and yet comfortable. With Lyne products, we always fulfil that promise.
Adding to our major advantages, our distribution network is also our biggest strength when it comes to operations. We have a good understanding of and grip on the network as a result of our prior experience with U&I, which aids in the distribution of our products across the nation. We have our distributors, retailers, and salespeople all over India, covering all major cities.
Q.: What were your assumptions when you entered the market, learning that you have? Who in your mind is your ideal customer? Do you have at least one of them signed up?
Ans: U&i, the parent company of Lyne, has a reputation as one of India’s most sought-after consumer electronics manufacturers. We discovered through reviewing the U&i data that the brand’s products had a 70% market penetration rate for affordable consumer tech. To provide our clients with higher goals than U&i had set for themselves, we entered the luxury market with Lyne.
Although Lyne products appeal to customers of all ages, our main target market is young adults between the ages of 13 and 30. The middle- and upper-class populations from Tier 1 and Tier 2 Indian cities are the main demographics in this area. These individuals are seen to be constantly looking for durable, reasonably priced, and attractive products. Products from Lyne are made to be all of those and much more.
Q.: What has been your biggest failure as an entrepreneur and what did you learn from it?
Ans: Lyne’s business career has just started. So far, we haven’t really had any significant failures. But it will always be a process of ongoing learning for us. The team and I feel like we’ve been learning new things since the day we began, and we will continue to do so.
Q.: How are you pricing the Product? What is the logic behind it? What is the model you are following – Free/Freemium/Premium etc.? Explain your thought process.
Ans: Lyne products are very competitively priced due to the company’s six international manufacturing units and a packaging unit here in India. This price range helps in manufacturing products that look premium in appearance and are distinctive and unparalleled in terms of quality, giving customers a different user experience.
Q.: What is the big picture of your startup? Is this Product/service leading to something bigger? If so, how?
Ans: By April 2023, we want to expand our offline distribution to every state in India, with a 500 crore revenue target for the next fiscal year. After building our presence across the nation through our in-store reach, we eagerly anticipate joining the e-commerce sector. But the offline sales channel will always remain our primary focus.
On the product end, our customers’ requirements are crucial to us. We are constantly working on innovating new products through collaborative development. We aim to provide our customers with products that fit all those requirements. We wish to make Lyne a brand name that is recognised and trusted globally for its premium but accessible product line.
Q.: Who do You Perceive as Your Competition? How do you differentiate yourself with them?
Ans: We believe that the quality of our products is on par with that of any other premium brands on the market. We thus want to compete on the same level as companies like Zebronics, Boat, Noise, Mivi, and Portronics.
Lyne has a vision of creating products that are not only competitively priced but also distinct from what is available from traditional consumer electronics brands. These products distinguish themselves from the other alternatives on the market. We also accept that India has a very high rate of product absorption, which may be quite advantageous for us. This may help Lyne grow into one of India’s most reputable manufacturers of consumer electronics.
Q.: What would be your goal to accomplish in the next six months? Any other information you would like to share?
Ans: Our primary goal for the company is to increase the brand’s value, make it available to all, and take it to great heights over the next few months. We are planning to take our products and services to online shopping platforms to reach a wider audience. We wish for Lyne to be a one-stop destination for all the tech needs of our customers.