MPW 2023: Devita Saraf’s global ambitions for her Vu Group

For young and affluent women to enter their family businesses was quite a rare occurrence back in the day. But since a young age, Devita Saraf has had the desire to enter the world of business. She started her journey at the age of 16 in her father’s company, Zenith Computers, and became the Director of Marketing at 21. Then, she took over as CEO at the age of 25. Between this time, in 2005 (when she was only 24), she started a separate firm called Vu Technologies—that has grown into a Rs 1,400-crore TV manufacturer today. “Studying abroad and understanding how global companies are created and compete, helped me understand what I can bring into the world of business,” says Saraf.

So, how did the idea for Vu germinate? Saraf recalls a meeting she had in 2005 with Jason Chen, now the Chairman and CEO of Acer. Back then, when Chen was with Intel, Saraf discussed the idea of setting up a products development lab for Zenith in collaboration with Intel, which would focus on emerging markets and India.

Following the meeting, Saraf decided to start a company that would make electronics products in the premium segment, as she pegged the Indian market to grow more premium and younger in the times to come. “Taking the new products development approach of Mattel (the US-based toy maker), and the human factors approach of MIT Media Lab, we created our own lab to design products that matched the very high-end products of that time.” And having the retail, marketing and branding functions in-house has helped Vu grow into a homegrown TV brand that competes with Korean and Japanese giants.

It has also managed to differentiate itself from the Chinese brands that have flooded the Indian market.

As CEO, Saraf has ensured that the firm is both profitable and debt-free. The early bet she made on the premium segment has also paid off, with Vu emerging as a strong brand. While she has expanded into the Middle East, her eyes are now firmly set on increasing its global reach. For Saraf, expansion is the mantra.

@nidhisingal