“Today, a home cinema is not only considered expressive but also Avant –grade, which offer an experience of luxury”, says Arshad Lakdawala.
India is moving ahead to match the global standards in the audio-video segment. Today, home theatre systems are gaining rapid popularity as people can no longer gather in cinema halls due to restrictions imposed by the government to fight COVID-19. There was a time when home cinemas were restricted to only a niche audience, the uber-rich class. But, today, everyone wants their home to be equipped with a home cinema. “Pandemic was the major push factor for the growth of the high-end audio-video industry in India, where the customers are building an exclusive home theatre in their homes making it a necessary commodity in their lives and the ones that had, have upgraded it. The market will see an upward trend for the coming years”, says Arshad Lakdawala, VP, Sales & Marketing, MZ Audio Distribution, India.
How would you describe the current market for the high-end audio segment(Speakers and Subwoofers) in India? What are the company’s latest launches or partnerships in this segment?
The high-end audio segment (Speakers & Subwoofers) is witnessing enthusiastic sales this year. The reason is that customers, belonging to the upper class of the societies, are demanding premium products and services. With the growing number of millionaires in India, the high-end segment is expected to grow 17.5 USD Billion by 2025.
We have recently tied up with Episode Speakers – a brand from SnapOne. “Episode” offers the best speakers in the industry. These are made with premium material for our custom integrators. Episode speakers look and sound like no other speakers available in the market.
Which cities or zones, in India, witness maximum sales and why? People of which segment are the primary buyers of high-end home audio-video solutions?
The large metros including Delhi, Bangalore, Mumbai, Chennai and Kolkata hold the top five spots in the rankings, in terms of highest sales of the high-end audio solutions. Tier 2 & Tier 3 are also witnessing growth opportunities. The main reason for the growth in Tier 1 cities is well established retail stores, presence of high-end brands. This evaluates the optimal level of penetration. The uber-rich class was once the main buyer of high-end audio-video solutions, but now it is gaining popularity among the mid-income group as well.
Would you like to speak on the company’s distribution channel? How does it benefit the associated brands?
Mz Audio does a market analysis and constantly searches for new opportunities to achieve peak sales performance. We try to build a strong relationship with our channel partners and take the responsibility of making sure that products are moving from our channel partners stores.
Brands that are associated with us have always grown exponentially in the Indian market due to our strong market presence, which connects Indian resellers and integrators with the finest brands from all over the world.
Would you like to run us through the company’s journey and experiences in the luxury audio-video industry till now? What are the challenges the company overcame on the way?
MZ Audio Distributions (India) was founded in 1997. It started as a distributor for luxury audio – video brands. Since then, it has been aiming to connect Indian resellers and integrators to the finest audio-video brands from all over the world. MZ Audio diversified its brand portfolio over 20+ years, emerging as one of the leading names in the industry. There are people in India who manufacture speakers or assemble them, which often gets confusing for the end-users. But, the clientele in India knows which quality of speakers to buy.
One of the challenges that we have recently faced, was fulfilling the supply against the strong demand from the consumer. However, we are overcoming that. Also, the price that had recently gone up due to the high rise of freight on import, is getting a hike in product prices.
What are the latest innovations in the residential audio-video segment? How are they revolutionizing the lifestyles of the urban mass?
The high-end audio-video industry is competitive where new technologies have entered the market to hold its position. Streaming technology has been quite revolutionizing. This made people switch to Wi-Fi and Bluetooth compatible devices and demand wireless networking systems (Custom Made Cinema) at homes.
MZ audio distribution is known to have leading brands under its portfolio, how does MZ differentiate itself from its competitors?
Mz Audio Distributions (India) is honoured to distribute the finest brands in India and each of our brands have its unique audiences across India. We, at Mz Audio, work on different promotional activities for our products and organize big launch events for our upcoming products. I believe this makes us stand apart in the industry.
How would you define the growth graph of the industry 5 to 8 years down the line?
India is expected to capture a significant share of the high-end audio-video market due to increasing technological advancements, innovation and presence of the leading audio video brands in India compared to a few years back. It looks very promising and with this momentum, I anticipate the industry to reach 17.5 USD Billion by 2025.
