At the age of 24, Devita Saraf started Vu Group, manufacturing premium TVs, and is today the biggest Indian-owned player in the world, taking on global giants like Sony, Samsung, and LG.
Saraf, who calls her approach to business old school, took a decision to completely do away with the 32-inch TV segment, where its competitors launched more products, dropping price points and reducing profits.
“This was the biggest financial decision we took in the last two years and wrote off Rs 200 crore in the top line because we felt that the entire segment wasn’t profitable. It is about optimising the bottom line, increasing our average selling prices, and reducing the market where the margin is less,” explains Saraf. The company reported revenue of Rs 660 crore in FY23, the latest year for which data is available.
Saraf is now focussing on products over 43 inches and 4K Ultra HD, a screen resolution that has four times the pixels of Full HD. In FY25, the company has already launched four new premium products in different segments. It has also expanded its business in the UAE, Qatar, Bahrain, Kuwait, and in some countries in Africa.
“With no bank debt or investor, I am profitable in every transaction. I believe in unit economics, and we have been profitable for the last 11 years. The premiumisation of profit is the bedrock of my principles. My approach is old school with new technology,” says Saraf, adding that youth and luxury work for the company, and her vision is to double down even more on premium.
Saraf is also exploring options for growth, such as an IPO, but she’s in no hurry and will wait for the right opportunity and partners. After all, her instincts haven’t failed her so far.