Indian industrialists are setting a new example all over the world. In fact, young entrepreneurs have emerged as the new power of self-reliant India. America comes after learning from Europe and presents a new example of success for the young generation of the country in the Indian market.
In today's date, many companies are writing success stories of self-reliant India. Mivi is one of them . It is an Indian company that deals in electronic accessories and lifestyle products. The headquarter of the company is in Hyderabad. In just 7 years of its establishment, the company has achieved the destination of success.
The special thing is that the Mivi brand is now completely indigenous in India. MiVi is also a brand that sells a variety of electronic gadgets such as cables, chargers, tempered glasses, custom and designer cases, power banks, car accessories, earphones, headphones, wireless earphones, speakers, and more.
When and how was Mivi founded?
This brand was started in the year 2015. It was started by a young couple from Vijayawada. Their names are Vishwanath and Midhula. The interesting thing is that both of them did not meet in India but at Florida State University in America. Later both of them married each other.
After graduating from Florida State University, he also worked in America for a few years. The company in which Vishwanath worked used to export electronic products from America to India. While Midhula was a software engineer.
Both came back to India in the year 2015 and after coming back launched the brand Mivi in India. The main objective of this brand was to create new enthusiasm in the electronics market in India. New products were to be delivered to the common Indians.
How and where did the inspiration come from?
After coming to India, the couple realized that no electronics brand is available at an affordable rate for the common man. International brands are very expensive. In such a situation, it was not easy to make a place in the Indian market. So both of them started making electronics brands of good quality in affordable range.
The success of this strategy
Mivi's marketing is unique. Marketing has given MiVi a new status as a brand. The brand made Bhuvan Bam its brand ambassador in the year 2018. Mivi's target customer is people in the age group of 17-35. These range from college students to working professionals. About 60 percent of Mivi's customers are from metros.
Mivi is a multimillion dollar company
In the very first year, Mivi did a business of around Rs.8 crores. 70% of MiVi products are sold through e-commerce platforms like Amazon, Flipkart, Paytm etc. In the year 2021, there was a bumper boom in his business. He earned Rs 2.5 to 3 crore every month. Company Honors expects that by the year 2024, this brand will be more than 25 billion dollars.
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