The affordable choice

With the launch of LACS Magnum tablets, the ever-evolving space has a new entry into the segment. We have with us Mr. M.D Jain, Managing Director, LACS MAGNUM taking us through the journey that the brand has made since its existence and the revamping that it has undertaken to establish as a force to reckon with with its attractive product range.

Aadeetya Sriram (AS): Tell us about LACS, when did you start and how much did you invest?

M.D Jain (MDJ): We started up LACS in Jan’10. We have invested around Rs.40cr in building up our products. Our aim is to reach to every nook and corner in the country and make them tech-savvy also providing them with high-tech equipments and gadgets at an affordable price range.

AS: Talk us through your range of products.

MDJ: We have 14 models ranging from different sizes to different space capacities i.e. 4.3, 5, 6.3, 7.2, 10.9 inches.  The pricing starts up from 99$ and goes upto 799$. We are providing 12 month E.M.I as low as Rs 650 per month as option to buy our tablets. Also we have facilitated 1 year replacement & damage warranty, which is a first being done in the world. We have designed our products and specifications keeping in mind the diverse nature of our country.

AS: Which sectors are you catering to? What is your role in the retail sector?

MDJ: At the moment, we will be catering to the requirements of the consumers who have been fascinated by the technology of tablets. Since these were available at high-end prices, affordability was an issue. We have followed the principle of 4 A’s i.e. Awareness, Accessibility, Availability, Affordability etc. We will give impetus to the education sector in the future as well, but right now, it is quite pre mature to talk about our product strategy.

AS: Are you manufacturing your products in the country?

MDJ: We do not manufacture our products in the country. We have contract-based agreements with manufacturing vendors in China, from where we import the products and make it available through our widely spread 10,000 experience zones. For the time being we do not see the need to start-up our own unit in the country as we are the ones providing the design strategy, product design and technology to the vendors.

AS: Nowadays, there are a lot of tablet players in the country, how different are you from existing players?

MDJ: When you talk about the tablet market in the country, it is still at a nascent stage. The presence of player such as Blackberry, Apple has got nothing to do with us. We will be challenged by the present domestic brands such as Olive, Beetel and the ones coming up. LACS magnum is here to bring in a bit of variety to the existing product range and also make it more affordable which in return provides us a wider spectrum in terms of consumer reach.

AS: How are you going to make the products available in the market?

MDJ: We will set up our Experience Zones all across the country; 10.000 of those will be coming up in the next 1 year. These will be on the franchise model and also the individually owned ones. The best part about franchising our zones is that it is tax-free. Our stores will require a space of around 100 sqft.  These will be consumer interactive stores where they can experience the touch-and-feel of our products. Also other than these zones, we will look into the possibilities of having direct sales executives which will widen our network even further.

AS: What is your marketing strategy for LACS and future plans in the pipeline?

MDJ: We will be undertaking 360 degree route for our marketing strategy i.e. BTL, outdoor, radio, TV commercial, print etc. The investment that we will be making in marketing is Rs.30cr in the first year.  In terms of the future, as of now we only have the vision to set-up our brand thoroughly; thereafter we will look into evolving ourselves in the market; at the moment, we have created a niche for ourselves in this sector.