The commerce and industry ministry on Wednesday approved foreign direct investment proposals of Dyson International in the single brand retail sector.
Dyson, also known as the Apple of home appliances because of its futuristic technology, got an approval to carry out single brand retail trading of ‘Dyson’ branded products in India, the company said in a statement. The investment envisages in the range of 5 million to 10 million British pounds.
The British company’s India website has already started filling forms to join the waiting list for products. As of now, three types of products are listed on the website—Hair dryers, cord-free vacuum cleaners and air purifiers.
Internationally, apart from the products listed above, Sir James Dyson-led company sells next-gen robot vacuum cleaners, air treatment, and air purifying products, fans and heaters.
Dyson’s robotic vacuum cleaner was a fruit of two decades of relentless research and development. The product is priced GBP 800. Its other products are also expensive than their counterparts in the market. Image: Dyson International
The technology used in the company’s products separates it from the others. For instance, the technology used in hair dryers or bladeless fans produced by the company imitates the science behind a storm—how a cyclone forcefully takes away the wind from its surroundings.
The company’s philosophy is very much like Apple—no need to invent a new product when you can give the best user experience by developing the most innovative and efficient technology.
“Like everyone, we get frustrated by products that don’t work properly. As design engineers, we do something about it. We’re all about invention and improvement,” says Sir James Dyson, Chief Engineer of the company. Interestingly, it took Dyson 5,127 prototypes and five years to build world’s first bagless vacuum cleaner.
The company is currently in process of developing solid-state-batteries— said to be three times as powerful—and significantly safer—than batteries used now in smartphones and electric cars. In 2015 it acquired Sakti3 for USD 90 million—a startup which worked in the research and development of solid state batteries.
The company which likes to keep its projects and technology a secret has already made its mark in the niche home appliance market. According to NYT, its pre-tax profits rose 41 percent last year to USD 785 million, while revenue rose 45 percent to USD 3.1 billion.