In the dynamic world of consumer electronics, where quality often comes at a premium, Mivi stands out as a beacon of affordability, excellence, and homegrown innovation. Founded in 2015 by Viswanadh Kandula and Midhula Devabhaktuni, Mivi is on a mission to redefine the consumer electronics landscape in India, offering high-quality products at prices that resonate with the Indian audience.
Bridging the Gap: A Vision for Quality and Affordability
Mivi was born out of a recognition of a significant gap in the Indian consumer electronics market. The co-founders, Midhula Devabhaktuni and Viswanadh Kandula, identified a demand for high-quality, durable, and affordable electronics that were often unmet by both domestic and international brands. With a vision to reduce dependence on foreign markets, especially China, Mivi set out to create a range of consumer electronics that would cater specifically to the preferences of Indian consumers.
Midhula Devabhaktuni describes the company’s simple yet powerful vision: “To make quality and certified electronics affordable.” This commitment paved the way for Mivi to become a household name in the Indian electronics industry.
Customer-Centric Success: A Driving Force
At the heart of Mivi’s success lies a deep commitment to customer satisfaction. Midhula emphasises that the customer is the king, and it is this customer-centric approach that has propelled the company forward. By understanding the tastes and preferences of the Indian audience, Mivi has been able to curate a diverse range of products that resonate with consumers, earning the brand a distinctive place in the competitive market.
Unique Selling Points: Redefining the Audio Experience
Mivi distinguishes itself as a pioneering Indian consumer electronics brand, focusing on creating high-quality products at affordable prices. One of the standout features is that Mivi is the first and only audio brand in India to design, develop, and manufacture its products domestically. The company’s product range spans wireless earphones, neckband earphones, speakers, soundbars, and smartwatches, catering to the diverse needs of consumers.
Mivi’s unique selling proposition goes beyond its products. The brand prides itself on being a disruptor in the market, consistently launching innovative and disruptive technologies tailored to the Indian audience. This commitment is reflected in the fact that Mivi boasts a 100% made-in-India portfolio, setting it apart from its competitors.
Nurturing a Thriving Internal Culture
A key driver of Mivi’s success is its internal culture, centred around empowering its workforce. With a team of over 1800 individuals, of which 80% are women, Mivi is not just a consumer electronics brand but a symbol of women empowerment. The company believes in work culture ethics and invests in employee motivation through regular training sessions.
The company’s commitment to creating a positive impact on the youth and the workforce contributes to its trajectory towards becoming a major player in the global consumer electronics market.
Vision for the Future: Innovation, Expansion, and Self-Reliance
Mivi’s journey is far from over, with ambitious plans for the future. The company is in the process of expanding into other consumer electronics categories and aims to achieve significant market share in both personal and home audio categories. Mivi envisions becoming the tech company of India, a household name synonymous with premium electronics at affordable prices.
A notable aspect of Mivi’s future plans involves constructing a new manufacturing facility to move the component eco-system to India. This facility will manufacture Printed Circuit Board Assemblies (PCBA) and batteries locally, a pioneering move in the wearables category that aims to reduce the country’s dependence on foreign components.
Bootstrapped Resilience: Weathering Challenges with Profitability
Mivi’s resilience is underscored by its bootstrapped journey since day one. Despite the challenges, the company has consistently utilised funds judiciously, generating profits from its first year of operation. A remarkable testament to Mivi’s commitment to sustainability and financial prudence.
A Beacon of Hope: Thriving Amidst the Pandemic
Notably, during the global COVID-19 crisis, when many businesses were struggling, Mivi embarked on a unique initiative. In 2020, the company established its manufacturing unit, generating employment opportunities at a time when job losses were widespread. This move showcased Mivi’s commitment to contributing to economic development and resilience in the face of adversity.
The journey so far of this standout company encapsulates a story of vision, innovation, and commitment to the Indian consumer electronics landscape. With a focus on quality, affordability, and self-reliance, Mivi is not just a brand but a symbol of progress and empowerment. As Mivi continues to disrupt the industry, it is poised to become a tech powerhouse from India, shaping the future of consumer electronics globally.