Canadian digital accessories brand, Hip Street, has forayed into the Indian market offering products ranging from digital audio to wireless, mobile and video accessories. The global company, which specialises in consumer electronics, will offer a full array of IT Peripherals, Telecom and Lifestyle digital accessories available in India.
The company has appointed Sukhesh Madaan, Sandeep Ramani and Sanjeev Ariaratnam as GM- South East Asia, Country Manager-India and Country Manager-Sri Lanka, respectively, to drive growth of the company in the SAARC region. The company would look to target consumers in the 15-45 age group.
Talking about the launch, Mohit Kripalani, President, Hip Street, said, “We have been steadily expanding our presence across the globe and India is yet another significant milestone in our rapidly growing international footprint. Our entry into Indian market allows us to cement our commitment to the region and work more closely with our customers and partners in this all important market.”
In the first year of its operation, Hip Street is looking at expanding the channel partner base and strengthening its market presence. Talking to exchange4media, Sukhesh Madaan, GM- South Asia, Hip Street, revealed that the company planned to invest $10 million in marketing itself in the next five years in India, out of which it would look to invest $1-1.5 million in this calendar year itself. Digital media would be an important player in the marketing plan, with about 30 per cent of the funds allocated to it, he added.
Commenting on the plans for the brand in India, Madaan said, “Our India operations are most strategic for the success of Hip Street globally. With the rapid growth of telecom, IT and Internet, the market and consumer aspirations in India are scaling new heights. India offers a unique challenge of providing best of the quality and innovative products at most effective price and we are hopeful with our strong R&D facility in Canada, we will remain able to come at par with those expectations.”
Hip Street is also an exclusive licensee from Disney for certain product categories in India.