Director of Videotex & Founder of Daiwa & Shinco Arjun Bajaaj joined NewsX for an exclusive interview session and talked about his education, brands, making bases strong in the technology sector, India’s ban on Chinese apps, and more.
Mr. Arjun Bajaaj did his education from Pathways World School, a few kilometers away from Gurgaon, and then went to the University of Essex, UK to study Business Management.
The boarding school and the exposure overseas have really helped him become ‘confident and independent’. He also believes that this really helped him in the business world today.
The young entrepreneur, Arjun Bajaaj is really grateful to his parents for giving him this opportunity.
He also feels that the transition from college to his family business was not at all smooth and easy. He said that while he was in university, he did a lot of part-time jobs there. He went to retails, he also worked in some night clubs to get some exposure and understand the audiences. After completing his studies he came back to India and did his first internship in Samsung’s marketing department for a couple of months.
Mr. Arjun Bajaaj was put under six months of training when he joined his father’s company. That’s when he realized “we have a lot and we can take advantage of the infrastructure and the experience we have”.
When asked about his brand Daiwa, Arjun said that it isn’t easy creating one’s own brand. Sharing the details of the process, he said “My brand was pretty new in the market so I thought we will start with the e-commerce platforms. I reached out to a few e-commerce companies but they didn’t show a lot of interest initially. Then shop clues decided to support me.”
Arjun Bajaaj asked his father to lend him 50 TVs because no one was that confident that whether it would turn out well or not. Shopclues then predicted that they could sell probably around 100-150 TVs in the first month. So Arjun gave it a shot and ended up selling 50 TVs in a day. After this big achievement, he asked his father if he could lend some more TVs. He took around 150 more TVs which again were sold in 3 odd days. And that’s when they realized their potential that they can do well. In 2016, the journey of Daiwa began. They sold around 600 TVs in the first month. In 2018, Arjun Bajaaj took Daiwa to the offline space and it has been growing since then.
In 2018, Mr. Arjun launched another brand Shinco which is exclusively sold on the online space. Shinco became the best selling brand last year.
On asking how does Arjun makes his customer base strong, he replied that the manufacturing structure helps them today and they have the experience to build products for the Indian market. They design their products by knowing and understanding the likes of the audience, the problems they face.
The founder of Daiwa and Shinco also shared his views on the Chinese ban on 59 apps, the strict terms, and regulations on imports from China. He said that not many industry leaders are supporting the ban at the moment. A lot of things are manufactured in China and they have no choice but to buy certain parts from there. Talking about the TV industry, the biggest cost goes to the screen of the TV and that is not manufactured in India. ‘To make the Aatmnirbhar Bharat mission successful, we need to bring in that technology so that we can cover that major share that is missing.’
The government should ask the big brands who are selling in India today to bring the technology here because it requires very heavy investment and a lot of production. With that, it can open up gates for export. The entrepreneur, Arjun Bajaaj, advised other young entrepreneurs to learn from the mistake and try to fix them and keep moving forward. Sharing his success mantra on the NewsX A list show, Arjun Bajaaj said that he believes in staying positive. “If you stay positive and have the ability to work hard, then there is no way anyone can stop you”.
The products of Arjun’s brand are available in offline space with local retailers as well as some big retailers. Daiwa is present in the northern and western markets and in the Hyderabad area as well. By the end of this year, they will have coverage in entire India.
Shinco is available on Amazon as well as its website Shinco.in. So users can purchase the product either in the offline space or online space.