How Did Lyne Transpire?
Lyne is a start-up targeting the younger generation with consumer mobile devices and accessories and was launched on the 24th of July 2022. The manufacturer offers a range of affordable and high-quality products to its customers.
The aim of starting Lyne was to make it a one-stop solution destination for different customers’ needs. And as a family deeply entrenched in the consumer tech market, it was a logical step for Meet Vij, his father Navin Vij, and uncle Paresh Vij to come up with Lyne.
Relationships are crucial to the company and play a core role. And like a line ends infinitely in both directions, Lyne believes in building relationships before business. The relationships with friends and family, distributors, and products are the point. What defines Lyne and these relationships is when these points connect.
Lyne has always aspired to be different and takes inspiration from a pair of shoes. What happens when someone walks into the room sporting shoes that vastly differ from the shoes in the rest of the room? Everyone’s focus would be on that pair of shoes. Similarly, instead of using the basic word “Line” for the brand, they chose to keep the name “Lyne”. Distinct, recognisable, unique, and extraordinary.
From an idea to a functional business; the journey of Lyne:
Meet Vij, Co-founder of Lyne, shared, “Lyne is a second-generation consumer brand. I have watched customer needs and preferences evolve from when my father and uncle started U&i. High quality, slick style, and affordable pricing were the key parameters when we were developing the concept for Lyne. I want Lyne to be a full one-stop shop for all of our consumers’ mobile accessory needs, and I’m thrilled about making it happen.”
Lyne is a sub-business of the parent brand, U&i. U&i is known as one of India’s most coveted consumer electronics companies. It offers a broad spectrum of products and has superior customer support available for its customers.
A careful analysis of U&i data shows that the brand has a 70% penetration rate in the affordable consumer tech market. The desire to provide premium products to existing customers prompted U&i to enter this market segment. The founders say they “dared to dream” of Lyne due to this desire.
Why Should You Get Ahead of the Lyne?
Lyne offers an expansive array of products, from earphones, earbuds, data cables, chargers, smart watches, and headphones, to neck bands, power banks, car chargers, and speakers. They currently have 100 products in 10 different categories sold through their network.
All Lyne products go through the most refined quality check and are engineered to give them a sleek yet bold look. This has proved to be an attraction to its users and suits all of them. The products are surprisingly affordable for their superior quality and finish.
These premium products are unmatched and distinctive in quality, making it possible for customers to experience the best products at affordable prices. And this is possible due to capitalising on the 6 international manufacturing units and a packaging unit set up in India.
Here’s A Peek At the Back of the Lyne:
Customers are always on the hunt for a brand that offers cutting-edge products, lives up to its promises, and comes with a decent price tag. They don’t always mindlessly purchase from a name brand when looking for something specific. The consumer tech market is wide open, which means fair competition among companies vying for customers’ attention. The competition is as stiff as the market is massive.
For instance, the headset market revenue in India is forecasted to reach $77 million by 2027. This shows a potential growth of 4.7%, according to the IBEF report. Lyne plans to park itself in the intersection where quality meets affordability. Although the brand is just starting, it aims to grow its market penetration and capture 30% of the current market by FY 2022-2023.
Lyne products suit customers of all ages but primarily target young people from ages 13-30. These are young, edgy, educated, well-informed individuals with the means to afford the products Lyne has to offer. The key demographics will be the middle to high-income groups from Tier 1 and 2 cities in India. They are always searching for products that are affordable, long-lasting, and robust in appearance. And Lyne products are all that and more.
Lyne Utilizes Their Strengths:
For Lyne, marketing is not new or challenging as its parent company already has an established distribution network. This proves to be their biggest strength and using this channel, they can push their products all across the nation. They have established good connections with resellers, and through them, they offer promotional benefits which are unparalleled.
Lyne products will soon be available on their website and other online stores, including e-commerce retail giants; Flipkart and Amazon.
The outreach done so far for Lyne consists of word-of-mouth endorsements. They have onboarded 40 super stockists with more to join. They are reaching out to different distributors and close to 50,000 retailers.
Everything Stacked Against Them In A Lyne:
Lyne products are at par with other premium brands in the market. And they consider their products similar to brands such as Zebronics, Boat, Noise, Mivi, and Portronics.
There are many upsides to having a parent brand. U&i learned many lessons and overcame challenges as a business. These lessons have made Lyne ready to meet challenges. They do not see any significant challenges.
What Does The Present Look Like For Lyne?
Lyne, a reasonably new brand, currently has its products in transit to stores. Revenue generation will follow once the products are available for customers throughout the country.
To make growth plans, Lyne, as a business, will need to be functional and drive sales. The brand is currently focused on making phase-wise plans, and they are planning to launch the brand and start the conversation rolling in the market. Growth plans will depend on how these initial plans go.
What’s Next for Lyne?
As a business, U&i has built a strong reputation and goodwill among stakeholders in the tech sector over the years, including producers, distributors, dealers, and retailers. They re-visited prior relationships and had a few select super stockists based on these. The super stockists guided and enhanced the distribution channel using their existing distribution networks. Lyne products are currently available at offline stores. These run throughout the country, making some of the biggest challenges in the business easy for the brand.
At present, building a solid brand foundation for Lyne is the priority. And for that, they are working with actors like Vidyut Jammwal and Ananya Pandey as celebrity brand ambassadors. This will help build trust and visibility among consumers.
The brand also pushes its products through various above-the-line and through-the-line branding channels like film branding, social media marketing, cricket branding, print advertisements, posters, etc.
