The 25-year-old scion of India’s multi-billion dollar conglomerate – the Videocon Group, Akshay Dhoot, now the head of Technology & Innovation, wants to refurbish the company as a ‘Technologically luxurious brand’. An engineering graduate (manufacturing and automotive designing) from University of Warwick, Akshay joined the company out of his own will.
Even before completing his education, he regularly visited the factories and took utmost interest in the day-today administration. He joined full time in 2013 and in 2015, he was made the Technology Head at Videocon. “I had a passion of working on different kinds of electronics,” says Akshay.
When he initially joined the company’s product division, he observed that the company had been putting a lot into cost innovation and R&D, reducing the cost of manufacturing so that the customers could afford products at good prices. “Here, I needed a more product oriented working. Instead of reducing the cost, I advised on to giving much more value to the customer in the same price range by getting some kind of product innovation,” says Akshay.
Following this, Akshay encouraged the company to collaborate with techno giant such as CISCO, Microsoft etc. Introduction of D2H into the market was another innovation towards getting a concept of satellite TV’s. On the other hand, Windows TV was a good success through Microsoft’s help. “My idea was to build up a flagship series which really catches the eyes of the consumer. So I encouraged the team to focus more on value maximisation, rather than cost minimization,” he further adds. Under his leadership, he plans to revolutionize the home appliances and consumer electronic industry by providing feasible products, aimed at enriching the user experience.
Akshay further clarifies, earlier Videocon was known for delivering quality products at affordable price. Something the customers would prefer after Samsung and Sony. “Now my entire aim is that we should be at par with such brands when it comes to technology.” For the last three decades, Videocon has been into offline selling as they believe that the Videocon loyalists enjoys the touch-and-feel experience more.
They have maintained good relations with all of their trade partners, dealers and distributors who have really helped them in building up the after-sale service and trust amongst people. “Therefore we are a complete offline brand and in near future also we don’t plan to increase our presence online:, says Dhoot.
(This article was first published in the June issue of Entrepreneur Magazine. To subscribe, click here)