All-Bootstrapped Foxsky Crosses Rs 2500 Million in Revenue, Targets to Achieve Rs 5000 Million by 2025
Foxsky, founded in 2019 by the ambitious entrepreneurs Manish Bhardwaj and Sachin Bhardwaj with the vision of “innovation for everyone” has reached a golden milestone of crossing INR 2500 million in the FY 2022-2023. Their aim to make high-quality products with cutting-edge technology accessible for everyone. They’re aiming for INR 5000 million in revenue by FY 2024-25. The company is completely bootstrapped to the revenue of INR 2500 million and pan-India presence.
Manish and Sachin Bhardwaj, Foxsky
Globally, the markets were drowning in the pandemic circumstances during 2020-21. Foxsky, however, reaped profits tiding against the odds sustainably. It never went through negative sales or ran merely behind valuations. Hence, it is marking remarkable growth with solid business fundamentals. The bootstrapped company has mastered the art of building sustainable and profitable business rather than chasing fancy valuations.
Foxsky is now up to launching a novel design in the semi-automatic washing machine to ease the lives of customers. The company is also planning a new launch of top-load fully automatic washing machines in 7 kg and 8 kg variants. Besides, they have promised that you can expect a new range of lifestyle accessories from the house of Foxsky.
Foxsky has etched its name in the minds of Indian consumers by manufacturing hardware, software, and internet services of remarkable quality. One of their exceptional trademarks is their attitude towards their consumers interests. Foxsky always tries to incorporate their consumers’ feedback into their product range and that’s one reason for the widening of their products spectra. The company has made itself available to the customer’s concerns, grievances, and interests.
From April 2020, Foxsky started focusing on both offline and online sales channels in India. The foresight of the company heads saw light with the accomplishment of the set goals. Before going online, Foxsky already had revenue of INR 100 crore from its offline distribution channels. And now they are beyond those figures. From Ghaziabad, Foxsky reached a nationwide presence and is on its way to becoming a global brand. Needless to say, offline sales were also on the surge, reaching more than 15,000 retailers.
Foxsky grew immensely last year through several rounds of sales of large appliances through online platforms. Now that the company is associated with various online shopping platforms like Reliance Jiomart, Reliance Digital, Croma.com, Arzoo, Udaan, Lulu Group, and Amazon, expanding its reach to customers. Foxsky has also started its own ecom site Foxskyindia.com to provide customers with a better user experience. They have proved themselves in selling high-quality products at highly competitive pricing that Foxsky is now trusted as a good brand for home appliances.
Foxsky had already set its focus on retailing mobile accessories with its Appario retail connection and large appliances with its Dawnetch connection. They established their full-fledged presence on Amazon in April 2020. Starting from Google Certified TVs, and washing machines, Foxsky has a wide range of consumer electronics categories. Foxsky accomplished its goal by selling more than 10,000 appliances during its first sting on Amazon. They keep innovating new technology and adding new features to their products to ease the customer’s use and to save time. They make sure that these highly advanced products are also affordable for their customers.
The companys popular products to hit Amazon were the Google-certified TVs. This year Foxsky is planning an automatic washing machine segment too. The history of Foxsky’s quality of products and best customer service makes the customers wait for the new launches. Foxsky’s services are excellent customer support, a credible seven days replacement policy validated by customer reviews, free shipping on all orders in pan India, and a 100% secure payment channel. Customer satisfaction is also great as per the reviews and product ratings across e-commerce platforms.
Foxsky has created a brand image and the company is making astonishing revenues despite being completely bootstrapped. Foxsky will start inviting investors to join hands and reach the target to be the No.1 TV brand in India by 2026.