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Dubai-based electronics brand Endefo, a brand under the Ashtel Group of Companies, has announced its plan to invest Rs 200 crore in the Indian wearable technology market by the end of 2024.

In a statement, the company said that it aims to secure a 10 per cent market share in the Indian Weartech segment within three years. Endefo will launch six premium verticals in India, including sound bars, portable speakers, TWS (true wireless stereo), boomboxes, smartwatches, and party speakers.

The brand's products will be accessible through retail outlets, Amazon, and the company's e-commerce platform, it said.

"Witnessing the immense potential that the Indian market holds in the consumer tech segment, Endefo proudly unveils a momentous investment that stands as one of our largest in India. Our unwavering belief in India's visionary Atmanirbhar mission fuels our commitment to embracing the unstoppable momentum of a self-reliant India,” Aneef Tas, CEO of Endefo said.

Tas said that all of their products will be ‘Made in India.’

"Notably, we have already established a significant market presence in the southern region of India, and now, with this launch, we are excited to expand our reach to various states in North & West India,” said Tas.

Tas added that the investment of Rs 200 crore will be used for expansion plans, sound technology, launching new verticals/products, and marketing.