Blaupunkt eyes 10 per cent revenues from online this year

German car accessories maker Blaupunkt is eyeing 10 per cent of its revenues from online this year, with different products catering to this retail channel.
"Currently, it (online) is 6-7 per cent of our turnover and we are seeing it around 10 per cent this financial year. We have also come out with some do-it-yourself products, which are doing very well online. To safeguard our distributors' margins, from this year onwards, we have a different set of products for online and offline," Blaupunkt India Managing Director Pankaj Jagwani told PTI.
"With this differentiation, we can be very aggressive online without affecting the margins of our distributors and retailers. The products and features are different and the difference in prices would be around 8-10 per cent," he added.

Last year the company clocked in a revenue of Rs 75 crore and it is eyeing a turnover of Rs 90 crore this year, at a growth of 20 per cent.
"The growth is mainly coming from the interiors, the reason being in smaller towns people buy more of the smaller cars, which normally don't come with a factory fitted radio, and these are the cars where maximum accessories can get installed," he said.
Jagwani expects the sales to pick up during the festive season due to strong demand from consumers post the implementation of goods and services tax (GST).

"There was a slowdown in June and July because of GST, as our distributors were de-stocking but July end onwards, we can already see things picking up. The festive season should be quite good because there is a lot of pent-up demand," he said noting that people were delaying their purchase anticipating a reduction in prices post GST implementation.

The company has been operating in India since 1998 and has presence in both original equipment manufacturer and after market business. India contributes around 15-16 per cent to the global sales at present.
Blaupunkt has 8-9 per cent market share in the car infotainment space and plans to increase its market share to 15 per cent in the next five years.

"We also want to expand into additional electronic products in the next five years. We are working on a number of products in the driver assistance space," he said.