How QThree creates value for brands
Bengaluru-headquartered, QThree Ventures, a vertically integrated electronics platform for domestic and foreign brands, is betting big on the domestic consumer electronics space. Established in 2014, the Rs1000+ crore company with its offering spanning across retail, distribution, e-commerce and manufacturing for the consumer electronics industry, has grown 100 per cent y-o-y and is looking to clock a revenue of around Rs4,000 crore in the next two years from its distribution, retailing and contract manufacturing business.
Backed by a workforce of over 500 employees, QThree, which provides a full spectrum of marketing, logistics and services support to domestic and global electronics brands, is the global strategic partner for TCL Technology (among the top five TV brands in India) for their TVs and air-conditioners and Treeview Co Ltd, Thailand’s leading LED TV and appliances manufacturer. The company also recently signed a partnership with Kodak for distributing and market their TVs in India.
“We act as a consultant, brand emissary and merchant wholesale distributor to discerning global brands entering India, offering a full spectrum of solutions designed to deliver market success. Through our quality services and products, we have today become a preferred partner for multiple domestic and global brands in the consumer electronics industry. With its concerted efforts and robust delivery mechanism, QThree venture has established itself quite well in this space and is now well geared up to start its next growth phase,” says Jubin Peter, Founder and CEO, QThree Ventures, who started this company with a seed capital of Rs5 lakh.
An engineering graduate from Kerala, Peter started his career working with leading international consumer technology brands in various capacities – brand building, market outreach and product development. His family has set up many successful ventures – trading in multiple product lines (food products, plastic, furniture, etc), hire purchase financing, and a leather manufacturing company supplying products domestically and internationally. Peter also set up Harman Motors, an auto company that retails super luxury and premium cars.
Modern R&D centre
In line with the PM's Make in India, Make for the World vision, QThree recently announced a partnership with Ahmedabad-based ABAJ Group (a consumer electronic goods maker) to set up ABAJ-QThree Techpark, a state-of-the-art facility, to manufacture LED televisions and air-conditioners. Both partners will jointly invest Rs1,000 crore over a period of three years. Located in Mehsana, 35 km from Ahmedabad, the facility will have an annual manufacturing output of 25 lakh LED televisions and six lakh air-conditioners.
ABAJ-QThree Techpark will manufacture brands of the ABAJ Group and QThree Ventures as well as serve as a contract manufacturer for any brands looking to manufacture consumer electronics products in India. The facility will manufacture assembly-based LED TVs, with local sourcing of components. The JV, aiming to touch a turnover of Rs4,000 crore by 2022, is also planning to expand production capabilities to cover consumer electronic products such as refrigerators, washing machines etc. ABAJ-QThree Techpark will also have a modern R&D centre which will aim at creating an ecosystem for electronics manufacturing in the country.
“We are delighted to join hands with the ABAJ Group and establish ABAJ-QThree Techpark. Domestic manufacturing is getting a massive push from the government, to make our country ‘Atmanirbhar’. With the ABAJ-QThree Techpark, our endeavour is to blend global expertise and manufacturing capabilities, along with a vast distribution and delivery network across India, to present consumers with affordably priced consumer electronics goods in India,” says Peter.
Earlier, in August 2020, QThree Ventures entered into a global partnership with Treeview to introduce its products in India, the Middle East, Europe and select African countries. QThree has introduced an entire line-up of Treeview’s smart TVs in India. Bollywood actor Hrithik Roshan has been roped in as the brand ambassador for Treeview in India.
QThree has introduced a series of TreeView’s smart televisions ranging from 24 to 65 inches. The company will soon be expanding its range of televisions to include exclusive frameless televisions up to 96 inches. It will also be launching Treeview’s laser TVs (for the first time in India), which are scalable (between 100 and 300 inches).
“Being selected as a partner by a leading player like Treeview is certainly a validation of our ability and services. In an environment where consumption of affordable technology is on the rise, we will invest in developing the brand’s appliance range in our JV factory. As the demand for big screens is increasing due to consumption of internet-based content, we will launch theatre-sized Laser TVs which will give a theatre experience to the consumer at home,” avers the QThree CEO.