Hammer, an athleisure tech brand that appeared on the first season of Shark Tank, has seen extraordinary growth and success post getting a deal on the show.
In an exclusive conversation with BW Retail World, the company’s founder & chief operating officer (COO), Rohit Nandwani revealed that at the time of the brand’s episode airing, the company’s revenue was around 70 lakh, however, within the span of 18 months, the company now has monthly earnings of 5 crore.
“Appearing on Shark Tank was a game-changer for us. It gave us the exposure and validation we needed to take our business to the next level,” he said.
Hammer started off with the audio segment which was its primary product and later it added wearables and electric toothbrushes to its product portfolio.
Nandwani added, “We identify ourselves as an FMEG (Fast-Moving Electrical Goods) company. Our primary objective is to ensure that our customer base remains consistent.”
“In order to achieve this, we will introduce newer products to our existing customers,” he highlighted.
While audio products initially chipped in greatly in the brand’s sales in 2021, wearables have become the significant revenue driver, accounting for more than 70 per cent of sales.
The company’s electric toothbrushes category has also reported significant growth, as the brand sold 10,000 units of the product in June 2023, compared to 1000 units in June.
However, the electronic toothbrush market is a niche market and for Hammer, it is expected to take around 6-7 years for the product to become mainstream.
Going forward, the company has ambitious expansion plans, with stress on exporting its products. The founder’s long-term goal is to penetrate the US market, given its higher disposable income.
“Our goal is to become a global brand and enter the US market. We see incredible potential there, and we are actively working towards making that a reality shortly. We are also exploring partnerships with brands like Walmart in the US market ” Nandwani said.
Currently, the company has already started shipping to the Dubai market, which shares similarities with Indian consumer behavior and they are on the path to expanding their overseas customer base by the end of 2025.
Acknowledging the importance of offline channels, Nandwani stated, “We believe in the power of offline distribution. By entering physical stores, we can connect with the 80 per cent of consumers who prefer to buy tech products in person and expand our reach even further.”
The company has already closed off contracts for offline distribution and intends to completely come into the offline market by December of this year.
While talking about offline market segregation, one is ‘general trade’ which includes small stores you would see in every city and the other one is ‘model trading’ which consists of stores like Chroma, Reliance, Vijay Sales etc.
“We will initially focus on the model trading segment and gradually expand to general trade, targeting smaller stores across India,” the founder stated.
In terms of financial goals, the company has set its revenue target at Rs 100 crore for the current fiscal year, with a growth rate of 3 folds compared to the last year.