FX Entertainment, one of India’s leading hi-fi brands distributors has formed an alliance with Triangle, the French audio brand. Looking forward towards a growing graph of luxury in India, Triangle and FX Entertainment together plan a ‘sound’ future. Aurélie Gonzalo, Head of exports Asia / Pacific, Triangle and Shane Choitramani, Managing Director, FX Entertainment share their views about the alliance and their plans for India in a tête-à-tête with Gunjan Piplani of Indianretailer.com.
Gunjan Piplani (GP): Tell our readers about the tie up between FX Entertainment and Triangle.
Shane Choithramani (SC): FX Entertainment is one of India’s leading names in Hi-Fi distribution. Triangle is like a Rolls Royce of sound. Having a strategic tie up with Triangle, we see it as a feather in our cap. We will be the sole distributor for Triangle in India and will be selling it through our exclusive stores as well as our other point of sales. With the tie up, I had travelled to their manufacturing unit in France and I have been trained for their products. Further, we have trained our staff and dealers about the product as well.
Aurélie Gonzalo (AG): As our strategy, we are now looking at expanding our presence in key strategic countries of which India is one of them. India is a huge country with good knowledge about hi-fi. While I was doing my research, FX Entertainment was the name that came across quite a lot of times as one of the key players in this arena and that is how this venture started.
GP: Tell us more about Triangle and what makes India a potential market to be in?
AG: Triangle is a high end audio company from France. All our products are manufactured in France with great precision and care. All the products have something special about them and are handcrafted. The speaker has been designed well for acoustic purposes. Our super premium Magellan series offers 12 layers of lacquer. It can only be achieved in a dust free room, if something goes wrong, the whole product is discarded. We also offer customisation for this series as well.
SC: India has a huge potential in terms of luxury products, there is a growth of 25 per cent in the luxury market in India. People who buy products like this don’t get affected by economies changing. The HNIs don’t really care the fluctuation of the dollars.
GP: Who are your competitors?
AG: Internationally we see Bowers & Wilkins as our competitors.
GP: What would be the price range of the products and who are you targeting?
SC: The products are priced between Rs 62,600 – Rs 44,00,000. Looking at that kind of price range we are targeting the HNIs.
GP: Which all brands do you offer?
SC: FX Entertainment has brought in brands like Cambridge, Mordaunt-Short, Elipson, Quadral, Norstone to India.
GP: Elaborate about your current retail presence and expansion of the same.
SC: We have one store in Delhi and 100 percent franchised stores one each in Ludhiana and Kolkata. Apart from these, our brands are available across 40 point of sales across India.
We are planning to open up 5 more exclusive FX stores in cities including Pune, Ahmedabad and Bangalore.
GP: For a dealer/franchisee to open a FX Entertainment store, what is the investment required?
SC: Talking about investment in dealer owned stores, the store can be about 2,000 sq ft in size and the dealer will have to invest about Rs 50 lakh in the products.
GP: How are you promoting and marketing your products?
SC: We will be promoting the brand through various ATL and BTL activities. We will be coming up with advertisement in print and promoting through social media. Moreover, we will be doing activities including get togethers at the Golf Club or the Gymkhana Club where our actual potential buyers lie.
Moreover, at our stores we will be having special sound rooms with logo of Triangle on the ceiling and products in the room which a customer can walk in, try and experience.