September 20, 2018

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From sex tech to induction chargers

by Stuart Wilson, Tuesday 16 January 2018

Soum Rakshit, CEO and co-founder at MysteryVibe and ChargeSky
Soum Rakshit, CEO and co-founder at MysteryVibe and ChargeSky

The market for Qi-induction chargers is expecting rapid growth in 2018. New brand ChargeSky will leverage its presence at next month’s DISTREE EMEA to showcase its new induction charging solutions to top buyers from distributors and retailers from 50-plus countries. The ChargeSky brand has been developed by the team behind sex tech brand MysteryVibe.

Soum Rakshit, CEO and co-founder at MysteryVibe and ChargeSky, explained: “With the release of latest Apple and Samsung products, we will experience rapid and exponential growth in sales of Qi-induction chargers."

"By the end of this year, everyone with a Qi-compliant device will have purchased at least two or three chargers to keep in their homes and offices. Soon sales volumes of Qi-induction chargers will start to match those of USB charging cables,” continued Rakshit.

He added: “As part of our wider product portfolio at MysteryVibe, we created the world’s most cost-effective Qi-compliant, licensed and certified induction charger costing between US$6 to US$10 FOB based on volume.”

At DISTREE EMEA, ChargeSky is launching three offerings for buyers to benefit from the company’s charging solution. The first offering is low cost, high volume, branded induction chargers. Distributors can order chargers in their own brand name and sell to customers with great margin potential. They can also order them for their big retailer partners and sell to them with significant margins, according to ChargeSky..

The second offering from ChargeSky is ultra-low-cost licensing deals at less than US$1 for products wanting to become Qi-compliant such as headphones, cars, medical devices among others, which are currently charged by USB wire and are looking for a quick way to upgrade their devices to make them Qi-compliant.

“By licensing our circuit, they would not only make huge savings in R&D costs and time, they will also fast track their go-to-market by 12 months as our circuit comes fully certified in multiple continents. This would otherwise be a significant undertaking both in terms of cost and time,” said Rakshit.

The third offering is charger circuits without casing or packaging. For example cafes like Starbucks, fast food chains like McDonalds, restaurants and bars, can integrate our circuit into their tables and sofas. This could also be done by furniture companies and IKEA has already started doing it. This would be even more cost effective than the fully packaged chargers, according to ChargeSky.

Sex sells

“At MysteryVibe, the biggest trends seen in the past 12 months include sex toys rapidly becoming mainstream, with 50 Shades of Grey, Sex and the City and Beyonce among others openly talking about it in a very ‘normal acceptable way’,” he added.

“Customers are purchasing more sex toys than ever before, even those who have never bought one before - the ease of access, particularly online, has played a big role in this. More and more mainstream distributors are getting interested in stocking pleasure products, even if they haven’t sold them previously,” continued Rakshit.

In terms of geographic priorities, MysteryVibe and ChargeSky continue to see opportunities for growth across the entire EMEA region.

“The Middle East in particular has seen a big explosion in consumption of luxury consumer electronics products, which would particularly benefit sales of chargers. Similarly, they have also seen a big explosion in ’massager’ sales - where our first product Crescendo could fit in very nicely - since we have a massager version of the product in place now,” explained Rakshit.

“With ChargeSky we offer the most cost effective and most customisable inductive charger solution, which no one else in the market can match. With MysteryVibe we offer Crescendo that has universal appeal and mainstream acceptance in outlets such as Brookstone, FNAC, CAPI and Selfridges,” he added.

Channel strategy

MysteryVibe even offers full control of the market to the distributors responsible for a region or country. In those cases, all contacts and leads pertaining to that region are then passed onto the distributor to avoid any conflict in the market.

“At MysteryVibe, we secure the best margins for all our distributors. We have unified the selling price globally both on RRP and MAP. We understand the need for our partners to make larger margins than they do on conventional consumer electronics. So, we offer generous margins and allow them to do seasonal discounted pricing for aggressive promotions. This combination allows distributors to rapidly scale sales. We are always happy to work out the best deal for the right partners,” commented Rakshit.

“At MysteryVibe, our company philosophy is focus on what we do best: build amazing products and market sex in a truly mainstream way; and for the rest, work closely with the right partners, who are leaders in their fields. This is especially true for sales,” he added.

Rakshit continued: “For EMEA, just like for the rest of the world, we give full autonomy on selling in their geographies to our partners and support them with highest quality product, on-time shipping, brand marketing, assets and impeccable customer service. Even on our website, where people can directly buy our products, we promote our partners on our main site.”

“At ChargeSky we are purely B2B, and will be working closely with distributors and brands to build customised chargers or providing our technology. The key here is our market-leading low costs and speed of implementation. From order to delivery for a medium sized order, we take no longer than four to six weeks,” said Rakshit.

Rakshit concluded: “MysteryVibe was founded in 2014 with the vision of helping couples maintain a long lasting intimate relationship - by adding some mystery to their bedrooms. In creating Crescendo, we developed the most cost-effective induction charging solution as we needed to ensure the maximum part of our BOM costs were allocated towards making Crescendo. Once we created it, we started getting a lot of requests from CE vendors and brands to buy our chargers as it would not only save them money but also fast track them by 12 months. That’s how ChargeSky was born.”

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