Kolkata: Consumer brand Onida, once known for its tagline ‘neighbour’s envy, owner’s pride’, has set a target of 5x growth as it plans to make a comeback. The company has decided to continue dancing with the iconic horned devil and will come out with a clear strategy in four to eight weeks as to how to reintroduce the advertisement icon. Onida took the ‘80s advertisement market by storm by introducing the devil.Onida Electronics CEO Gunjan Srivastava, in Kolkata on Wednesday for the launch of the company’s 100-inch QD mini-LED, spoke on the company’s brand positioning and growth plans. Once a colour TV leader and now with a presence in TVs, ACs and washing machines, Onida plans to enter newer categories of consumer electronics soon, said Srivastava. “Sometime in 2027-28, we will enter some new categories. The company is now evaluating that,” he added. The over-four-decade-old brand lost market share and visibility in the new century following the entry of Korean and Japanese giants.Srivastava noted that the money recently raised through a preferential offer would be utilised for product innovation, rejuvenation of the brand and go-to-market activities. According to him, Onida has decided to get out of contract manufacturing completely.
