Foxsky, created in 2019 by ambitious entrepreneurs Manish Bhardwaj and Sachin Bhardwaj with the objective of “innovation for everyone,” has crossed the INR 2500 million mark in the fiscal year 2022-2023. Their goal is to make high-quality items that use cutting-edge technology available to everyone. They intend to generate INR 5000 million in income by fiscal year 2024-25. The company has totally self-funded its way to a turnover of INR 2500 million and a pan-India presence. During 2020-21, global markets were drowning in pandemic conditions. Foxsky, on the other hand, made consistent profits by betting against the odds. It never experienced negative sales or just lagged behind valuations. As a result, it is seeing extraordinary development while maintaining good business fundamentals. Instead of pursuing high valuations, the bootstrapped company has perfected the art of developing long-term, profitable businesses.
Foxsky is now preparing to offer a unique design in the semi-automatic washing machine to make consumers’ lives easier. In addition, the business intends to launch new top-load fully automatic washing machines in 7 kg and 8 kg capacities. Furthermore, they have announced that a new line of lifestyle accessories will be released by Foxsky.
Foxsky has made a name for itself in the minds of Indian consumers by producing high-quality hardware, software, and internet services. One of their distinguishing characteristics is their attention to the interests of their customers. Foxsky consistently tries to incorporate user feedback into its product range, which is one of the reasons for the broadening of its product spectra. The company has made itself available to address the issues, grievances, and interests of its customers.
Foxsky began focusing on both offline and online sales channels in India in April 2020. The company’s leaders’ vision was realized with the achievement of the planned targets. Foxsky had INR 100 crore in revenue from their offline distribution channels prior to coming online. They have now surpassed those figures. Foxsky has expanded its national presence from Ghaziabad and is on its path to becoming a global brand. Offline sales were also on the rise, hitting more than 15,000 stores.
Foxsky expanded dramatically last year because of many rounds of significant appliance sales via Internet marketplaces. The company’s access to clients has expanded now that it is affiliated with several online shopping platforms such as Reliance Jiomart, Reliance Digital, Croma.com, Arzoo, Udaan, Lulu Group, and Amazon. Foxsky has now launched its own e-commerce site, Foxskyindia.com, to deliver a better user experience to customers. They have proven that they can provide high-quality products at low prices, and Foxsky is now regarded as a reliable brand of household appliances.
Foxsky had already focused on selling mobile accessories through its Appario retail connection and major appliances through its Dawnetch retail link. In April 2020, they acquired a full-fledged presence on Amazon. Foxsky offers a wide range of consumer electronics categories, ranging from Google Certified TVs to washing machines. Foxsky met its target by selling over 10,000 appliances during its first Amazon sting. They are always developing new technologies and adding new features to their goods to make them easier to use and save time for their customers. They make certain that these cutting-edge products are also affordable to their customers.
The Google-certified TVs were the company’s most popular products to hit Amazon. Foxsky is also proposing an autonomous washing machine sector for this year. Customers anticipate new product introductions because of Foxsky’s reputation for high-quality products and excellent customer service. Foxsky’s offerings include exceptional customer service, a legitimate seven-day replacement guarantee proven by user reviews, free shipping on all orders in India, and a completely secure payment channel. According to reviews and product ratings across e-commerce sites, customer satisfaction is likewise high.
Despite being fully self-funded, Foxsky has established a brand image and is generating impressive profits. Foxsky will begin inviting investors to join forces in order to achieve the goal of being India’s No. 1 TV brand by 2026.