Micromax to open its own online store by Diwali

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Micromax is in the process of developing its own online store from where it will sell phones and other devices. The company executive, while unveiling the Canvas Spark 3,  hinted that the store could go live before Diwali.
"We will be disappointed if we approach Diwali without having our own store. It is a case of having an exclusive product strategy for the online store," said Shubhojit Sen, chief marketing officer, Micromax.
However, the company admitted that the whole idea of exclusive online store for Micromax products was in the early stages of planning. This could be to better compete with Xiaomi which has started selling products on its Mi Store.
"Should we develop a range of accessories or preview our products online, I don't know," said Sen. He admitted that online had disrupted the market as the cost of doing business was less.
The company also admitted that online retail had become too big for it to ignore and said that it couldn't be compared with the way products were sold offline.
 "The way we approach the online strategy is by saying that a lot of the consumers are preferring online. If we have to compete on online then we have to compete on pricing with other brands and not look at offline pricing," said Sen.
Micromax would remain quite agnostic in terms of its online partners and Sen believed that its online strategy was based around having exclusive products with different e-commerce portals.
"We are fairly agnostic when it comes to partners. We have good relations with Flipkart and Snapdeal. We are also having conversations with Amazon, with whom our subsidiary YU already has a good relationship," said Sen.
In fact, Sen has said the new Canvas Spark 3 will remain an exclusive with Snapdeal and will never be sold offline.
Micromax plans on selling more than a million units of the Canvas Spark 3 in the first 6 months. The company will also unveil a revamped product strategy and portfolio in July and August although for now it has not disclosed any details of this planned revamp.
All of this comes in the wake of a series of resignations at the company. Vineet Tanja recently resign as CEO of the company, and last year, the company had quite a public spat with Sanjay Kapoor who joined the company as its chairman last year.

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