GOVO Aims To Become Rs 1,000 Crore Company By FY28: CEO
When asked about factors fueling growth, he said that the company plans to expand the category, increase its market share and go for premiumisation in the category.
Audio electronics brand GOVO targets to be a Rs 1,000 crore entity by FY2027-28, a top official of the company said on Wednesday. The Bengaluru-based audio electronics brand, established in 2022, clocked a revenue of Rs 100 crore in FY2023-24, GOVO CEO and Co-founder Varun Poddar said.
"So, in FY24, we closed at around Rs 100 crore and we grew around six times, seven times from what we were last year and our goal for the next three years is to go to a thousand crore top line with a 15% to 20% market share. In FY27-28, we are targeting to be a thousand crore company," he told PTI in an interaction.
When asked about factors fueling growth, he said that the company plans to expand the category, increase its market share and go for premiumisation in the category.
GOVO also plans to add more products and more segments in the near future, he added.
"We have a robust in-house customer service team. We are very closely in touch with all our customers, constantly taking their feedback, constantly talking to them... and then taking those feedbacks and taking whatever corrective actions are required," said Piyush Jalan, CEO, GOVO.
The company wants to remain focused on audio devices only, added Varun Poddar.
"So it's not like we want to launch watches also, we want to launch power banks also. We want to remain focused. We want to remain focused only on audio, and we want to be the number one player in the sound bar market in the next three years," he said.
