IN CONVERSATION WITH:
Mr Gaurav Anand
Co-Founder and Finance & Management Head
TELL US ABOUT COCKATOO AND HOW THE IDEA CAME UP?
Founded in 1981 by Shri Bhushan Anand under the name of Anand Group, the brand has been active in the national athletic goods market for the past 38 years. Mr. Ritwik Anand and I recognized that there were several obstacles in terms of the availability of high-quality fitness products. We saw a demand in health monitoring devices associated to fitness. All the smart watches available in the market were either too expensive or too cheap to meet customers requirement. So, we researched and planned to get best of technology and affordability to our customers, and hence launched the Y2 smartwatch.
THE NEW SMARTWATCH LAUNCH IN INDIA AND OTHER FITNESS PRODUCTS LINE UP?
We recently launched our first smart wearable device- The Y2 Smart, smartwatch exclusively on Amazon. We have always offered best-in-class fitness goods to our customers and the Y2 smartwatch is no exception. The smartwatch has gained tremendous popularity and we are working on new products which will have features that are currently availableonly in high-end wearables. For instance, the new product will have accurate data such as heart rate sensors, ECG etc.
HOW HAS THE RESPONSE FROM CUSTOMERS?
The response rate has been extremelygood, and customers are excited about this product. The smart watch category is expected to generate highest adoption and spur the trend. They are replacing fitness devices as the most purchased wearable category. We are sure by providing products like Y2 we will be able to meet customer demands and their necessity in keeping themselves fit and healthy.
WHO ARE THER OTHER PLAYERS/COMPETITORS?
There are many players who are in wearables category however, the main distinguishing factor or the USP of our brand is product quality and affordability. For instance, the Y2 smartwatch is prices at INR 3999 only and it is loaded with diverse set of features such as smart fitness tracking, a 10 day long battery life, 12 watch face that lets customize the user’s mood with unlimited customizable watch face update. The watch also features water resistance ABS body (IP 68- certified) with a strong Apollo 3 processor, 6 Axis Accelerometer and a GPS sensor by UBLOX, Heart Rate tracking, Sleep Monitoring, Breath Training Mode, Step Count, Distance travelled, Calories burnt. The wearable also helps you select 4 Sports activity mode- Walking, Running, outdoor cycling and Indoor Cycling.
WHAT IS UNIQUE ABOUT COCKATOO?
We at Cockatoo have always designed best-in-class sports products. We closely monitor the market demand, the needs of customers and their expectations.Our efforts are focused on providing our consumers with high-quality items at affordable prices, and we are devoted in doing so.
WHAT IS THE CURRENT MARKET SCENARIO AND HOW MUCH REVENUE HAS BEEN MADE YTD?
The Indian wearable market registered 11.8 million units shipment in 3Q20, clocking 165.1% year-over-year (YoY) growth, according to IDC’s Worldwide Quarterly Wearable Device Tracker.And smart watches saw a 139.3% YoY growth with 2.6-million- unit shipments in 2020.
Even in 2021, the market for at-home workout equipment is booming, with adjustable dumbbells, skipping ropes, and yoga blocks flying off the shelves. Over the next five years, the Indian sports and fitness goods market is expected to develop at an 8.6 percent CAGR.
This year, we have done business of about INR 60 cr.
GOING FORWARD, WHAT ARE THE PLANS LINED UP FOR THE FUTURE?
Post pandemic, we have seen a great rise in interest for home gym equipment amongst the people. Due to the increase in the demand from our existing and new customers, we have introduced new products such as smartwatch catering to their needs. We believe the core DNA of our business is R&D and our team helps us in curating products that are born out of customers’ needs. This showcases Cockatoo as a well-produced technology brand- a brand connecting technology with fitness.
We look forward to enhancing this quality of ours for better customer satisfaction.