A very common concept in the USA and various other countries, Liqo is the Indian name for open box electronics. With an attempt to make luxury affordable for every household, they guarantee complete transparency on the condition and history of goods. In conversation with Urban Melange, Gaurav Garg, Chief Operating Officer, Liqo tells us about this concept in detail.
Tell us something about yourself.
An ardent believer of the fact that we are here to create a ‘dent in the universe, I would like to think of myself as a Thought, Product, and Business leader, with an undying passion for marketing. I am the founder and chief go-to person for operations at Liqo, a discounted electronics appliances outlet. Be it disrupting the new age market or building a brand, my approach is always forward-looking. The other side of me is just an average Joe who loves to read and travel.
How did Liqo come into conception?
Liqo was born out of years of research and my experience of working across some of the finest startups in the country like Jugnoo, Grofers, and Jabong. Handling segments like operations, buying, sourcing, and marketing added to my knowledge of retail. But it was only after traveling across the length and breadth of the country that I discovered the concept and untapped potential of the Liquidation business and how unaware were consumers. After speaking to a couple of industry experts, me and my partners, Satvir, Lokesh, and Varinder realized the unorganized nature of the open box electronics segment and decided to jump in and change the narrative with a couple of calculated investments. What started as a 2500 sq ft. garage store with an initial capital of 50 Lakhs is now a pioneer brand across 8 cities and 90,000 sq ft, crossing a turnover of 50 Crores!
Tell us more about the segment that you deal in – Open Box electronics?
As the name suggests, open box electronics are those articles that have just been removed once from their packaging. This could be owing to product demos at retail locations or owing to unused returns to Amazon and Flipkart from indecisive customers. What can’t be technically termed as brand new might also not be completely discarded worthy. Most of these open box electronic goods only show signs of tampered packaging, with negligible harm to the products. This is what makes these articles worthy of selling at heavy discounts. Although the concept is very popular in countries like the USA and Canada across chains like Best Buy, Liqo is taking the lead with Open box in India.
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