New Delhi,22nd November 2024 Damson Technologies, a prominent name in computer peripherals, mobile accessories, and lifestyle products, has announced the launch of an advanced manufacturing facility in Ahmedabad, Gujarat. The company plans to invest INR 200 crore in three phases for setting up this manufacturing unit in India, reflecting the company’s strong commitment to the ‘Make in India’ initiative. This facility will not only bolster Damson Technologies’ flagship brands JUST CORSECA but also manufacture for other leading accessory brands in India, catering to the growing demand for high-quality smart accessories and lifestyle products. The investment includes Rs 110 crore allocated for the factory setup, Rs 60 crore for advanced machines, and another Rs 30 crore dedicated to the manufacturing process.
The Ahmedabad facility will serve as the core manufacturing hub for a range of high-quality audio systems, including TWS earbuds, personal audio devices, and home entertainment systems, with production focused on advanced technology and durability to meet varied market needs. By prioritising indigenous production, Damson Technologies will not only support the ‘Make in India’ initiative but also create job opportunities for approximately 500 individuals in and around Ahmedabad, further contributing to regional economic development.
Production Capacity and Expansion Plans
Starting with six assembly lines in phase 1 with an initial monthly production target of 3 lakh units, the facility will expand to twenty assembly lines in phase 3 scaling up the capacity to 10 lakh units per month. As the demand grows, Damson Technologies plans a gradual scale-up to optimise output and meet both domestic and international market demands. The company’s manufacturing strategy aligns with a vision of achieving a revenue goal of INR 500 crore in the upcoming fiscal year.
A Commitment to Technological Innovation
Under the leadership of Ritesh Goenka, Managing Director of Damson Technologies, the company is set to revolutionise the smart accessory landscape through substantial investments in research and development. With a dedicated $10 million R&D fund, Damson will integrate cutting-edge innovations, including AI-powered products, app-based controls, and voice assistance, across its product portfolio. This facility will also support a new gaming-focused segment that includes gaming AirPods, headphones, and sports trackers, catering to the growing demand for specialised accessories in India and beyond.
Mr. Ritesh Goenka, Managing Director of Damson Technologies, stated, “The Indian market offers tremendous potential for manufacturing of smart accessories, and we are delighted to start this state-of-the-art facility in Ahmedabad. With a focus on quality and innovation, this facility is designed to produce high-quality products for our flagship brand, JUST CORSECA, as well as for other leading accessory brands in India. This facility underscores our dedication to the ‘Make in India’ initiative by bringing production closer to home, enhancing operational efficiency, and supporting our growth ambitions.”
Expanding Beyond Domestic Markets
In line with its global expansion strategy, Damson Technologies is leveraging this manufacturing base to reduce import dependency and meet international demand, particularly in regions such as the USA, UK, and UAE. By manufacturing locally, Damson Technologies can better serve its loyal customer base worldwide while benefiting from cost efficiencies and competitive pricing on exports, aligning with India’s vision of becoming a global manufacturing hub.
Financial Goals and Future Outlook
Damson Technologies’ strategic investment in the Ahmedabad facility is expected to generate substantial revenue, with an anticipated market share of 3-4% in the mobile accessories and personal audio sectors. The facility, once fully operational, will play a critical role in supporting Damson’s revenue targets of INR 500 crore in the next fiscal year, strengthening the brand’s position as a leading manufacturer in the smart accessories space.
