Arzooo, the Bengaluru-based b2b ecommerce marketplace, on Monday ventured into consumer durables segment and launched a new brand called NU.
Pronounced NU (new), the b2c venture started off with smart TVs, washing machines and air conditioners.
Khushnud Khan, the CEO and co-founder of Arzooo and NU said that this new entity will be targeting 20% market share in next three years.
“With NU, the company targets middle and lower middle class that is aspirational and spread across urban and rural areas. We want to make premium affordable,” said Mr. Khan while interacting with The Hindu.
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When questioned about the quite optimistic 20% market share in three years, he added that people now have more disposable income at hand.
According to Mr. Khan this is the best time to launch a new brand like NU as we are into the post covid era, economy is strengthening and manufacturing in India is well established now.
Pronounced NU (new), the b2c venture started off with smart TVs, washing machines and air conditioners. | Photo Credit: Haider Ali Khan
Mr. Khan did not share the investment that has gone into this new venture though.
NU is not manufacturing its products, but sourcing it from contract manufacturers like Dixon and Amber.
For aftersales support, NU has got Go Care with 650 service centers in more than 400 cities to look after servicing, installations, etc.
The products will be available across Amazon, Flipkart, and other offline channels. “Arzooo plans an omni channel approach to take NU closer to consumers and NU products will be available pan India, covering over 18,000 pin codes.”
We asked whether NU products will be exported to other nations, Mr. Khan denied. He said that primary goal is to fulfil the needs of India.
Khushnud Khan, CEO and co-founder of Arzooo and NU said that this new entity will be targeting 20% market share in next three years. | Photo Credit: Haider Ali Khan
NU will not be entering the mobile space, but wants to focus on serious products. It is expected to expand its white goods business to refrigerators later this year.
Talking of products, NU unveiled smart HD LED TVs in 32 and 43 inches priced at ₹11,990 and ₹19,990, respectively. It also launched two 4K Ultra HD smart TVs in 55 and 65 inches priced at ₹31,990 and ₹51,990, respectively.
It introduced three 4-in-1 convertible, inverter split air conditioners. The 1 ton 3-star variant is priced at ₹27,990, 1.5 ton 3 star is priced at ₹30,990 and the 1.5 ton 5 star variant sells at ₹34,990.
NU also launched four washing machines, fully-automatic top load and semi-automatic. The fully automatic washing machines come in two variants, 6.5 kg and 8 kg ranging from ₹12,499 to ₹16,999 respectively.
