Contract player VMI to sell directly via Skyball; invest Rs 100 cr in 3 yrs

Domestic electronics manufacturing services company Videomax International will sell home audio, smart accessories and consumer electronic products through its own brand Skyball. The company plans to invest Rs 100 crore in Skyball over a period of three years with a target to achieve a Rs 500 crore turnover within the same period. It has announced the launch of Skyball, a new-age Home Audio, smart accessories, and Consumer Electronics brand. Skyball will begin with home audio, TWS earbuds, and a foray into smartwatches by June. It will add other consumer electronic devices under its umbrella later, Skyball and VMI Group Chairman and Managing Director Sandeep Gupta said. "VMI has committed to invest Rs 100 crore in the next three years in Skyball's growth, with the aim of achieving a turnover of Rs 500 crore in the same period. Skyball is targeting a turnover of Rs 100 crore this year," Gupta said. VMI has been manufacturing LED TV, speakers, neckband, and power bank for several br

from Companies https://ift.tt/dDAhvs1
via IFTTT