Consumer electronics brand Endefo has announced plans to invest INR 200 crore ($27 million) in the Indian wearable market by 2024, with the goal of acquiring a 10% market share over the next three years. The Dubai-based Ashtel Group of companies-owned brand is set to launch six verticals: smart watches, sound bars, portable speakers, true wireless stereo , BoomBox, and party speakers. These products will be available through over 2,000 large retail outlets, Amazon, and the brand’s e-commerce platform. The investment in India will be directed towards expansion plans, sound technology, launching new verticals/products, marketing and more, said Aneef Tas, CEO of Endefo. After gaining a considerable market share in more than seven countries, Endefo is expanding its product line to India and plans to make significant investments in other sectors that complement its core expertise in mobility and IT.
Endefo to Invest Rs 200 Crore in India with Plans to Capture 10% of Wearable Market
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