Head of Product Innovation

Job Profile:
As the Head of Product Innovation, you will be a strategic leader within our organization, responsible for driving product development and innovation to deliver market-leading solutions that align with our business objectives. You will oversee the product innovation lifecycle, from identifying trends and generating ideas to commercializing successful products. This role requires a visionary thinker with a hands-on approach, creative problem-solving skills, and the ability to lead cross-functional teams to bring new ideas to life. Your contributions will directly impact the company's growth and position in the market.

Key Responsibilities:
Identify Market Opportunities:
Monitor market trends, customer needs, and the competitive landscape to identify new product opportunities.
Develop insights on emerging industry trends and consumer behaviors to guide product innovation efforts.
Conduct Research and Analysis:
Lead comprehensive market research and customer insight analysis to inform product development strategies.
Utilize competitive intelligence to identify gaps in the market and areas for innovation.
Generate Product Ideas:
Develop new product concepts, features, and enhancements based on research findings, customer feedback, and technology advancements.
Evaluate the feasibility, profitability, and market potential of proposed ideas.
Cross-Functional Collaboration:
Collaborate with buyers, merchandisers, design, manufacturing, and other teams to translate product ideas into viable concepts.
Develop and execute actionable plans for product development in coordination with stakeholders.
Oversee Product Development:
Manage the end-to-end product development process, from ideation through to commercialization.
Define product requirements, specifications, and key performance indicators (KPIs) and ensure adherence to timelines, budgets, and quality standards.
Patent Filing and Management:
Partner with legal teams to identify and file patents for innovative product concepts.
Work closely with patent attorneys to ensure IP compliance and protect our intellectual property.
Project Management:
Drive product development projects, coordinating tasks across teams, monitoring progress, and addressing any issues.
Maintain detailed project documentation and provide regular updates to stakeholders.
Risk Assessment:
Identify and assess potential risks and challenges associated with product development initiatives.
Develop mitigation strategies and contingency plans to ensure successful project delivery.
Performance Tracking and Analysis:
Track product performance post-launch, collecting and analyzing relevant data to inform continuous improvement.
Use insights to guide future product development strategies and enhance product performance.
Stakeholder Communication:
Regularly communicate development updates, project milestones, and outcomes to senior management, marketing, and sales teams.
Present product proposals and business cases to secure support from key stakeholders.
Promote an Innovation Culture:
Foster a culture of creativity and innovation, promoting knowledge-sharing and collaboration across departments.
Identify and implement best practices for product innovation within the organization.

Qualifications:
Education: Bachelor's degree in business, Engineering, or a related field (Master's degree preferred).
Experience: Extensive experience in product management, development, or innovation roles, with a demonstrated track record of successful product launches.
Expertise:
Strong understanding of market research methodologies, competitive analysis, and product development.
Experience with prototyping, testing, and working closely with engineers and designers.
Familiarity with patent filing processes and IP management.
Knowledge of sustainable and ethical practices within the industry is a plus.
Skills:
Exceptional analytical, problem-solving, and strategic thinking skills.
Proficient in project management, including planning, resource allocation, and risk management.
Strong communication and presentation skills to engage and align diverse stakeholders.
Proven ability to lead and motivate cross-functional teams in a collaborative, innovative environment.
Industry Knowledge: Up-to-date knowledge of emerging technologies, industry trends, and consumer behaviors.
Results-oriented with strong business acumen and an understanding of the financial implications of product development.

Vaibhav Global Ltd. Company Overview
Listed in 1996-97 on Indian stock exchanges, Vaibhav Global Ltd (VGL) is an end-to-end electronic deep discount electronic retailer of fashion jewelry, gemstones and lifestyle products in the United States (US), United Kingdom (UK) and Germany (and other EU nations), Canada, Australia and New Zealand.
Today's customers seek a convenient shopping experience. We are available to the customers via our proprietary 24X7 TV Shopping channels (Shop LC in US & Germany and Shop TJC & Ideal World in UK) and another digital medium which include website, mobile apps, Over- The-Top platforms (OTT's), social media and third party marketplaces. Thus, today VGL reaches out to almost 130 million households across US, UK & Germany. As digitization increases, online retail is expected to grow and mature, our portfolio & Omni- channel strategy will accordingly evolve alongside.
VGL has a group turnover of approx. Rs. 3,041 Crore (FY 2024- 2025) and employs over 4000 people globally. VGL has its head office as well as its main manufacturing facility in Jaipur, India, which employs approx. 3000 people, including contract workers. We have consistently believed that value creation and sustainable business practices are complimentary goals. Renewable energy is a key focus area in VGL's strategy for mitigating climate change risks. We're committed to conducting business with minimum impact on the environment. We have undertaken and continue to undertake several 'Green initiative' measures to protect the environment. Our SEZ unit at India was conferred with 'Excellence Award' for 'IGBC Performance Challenge 2021 for Green Built Environment' which reflects our strong commitment and dedication towards environment sustainability. For more details, please refer to our ESG report https://www.vaibhavglobal.com/reports .
Under our flagship one-for-one meals initiative 'Your Purchase Feeds...', we serve meals to school children in India, US and UK. With this, we have served 90 million meals till date. We encourage our team members to donate at least two hours every month for charitable causes that is tracked through our performance system.

VGL is a Great Place to Work (GPTW) certified organization.

SHOPLC OVERVIEW
A subsidiary of VGL, Shop LC was established in Austin, TX in 2007 and is now broadcasting live to 75million homes in US. Our growing E-com presence is through our website https://www.shoplc.com/.
Shop LC ships approx. 25,000 products to its US customers every day. Shop LC, US employs approx. 550 people in operations such as warehousing, customer service, merchandising, marketing, E-Com, Marketplaces, Live Studio. Its management resides at the US headquarters in Austin, with extended support from the Global Headquarters in India. United States in our largest market and delivers the highest revenue share. The contribution of this region to our consolidated revenue stands at 68%

TJC OVERVIEW
A subsidiary of VGL, TJC was established in London, UK in 2006 and now broadcasts live to 25 million homes in UK as well as has an E-com presence through website https://www.tjc.co.uk/ . TJC ships approx. 12000 products to its UK customers every day. TJC employs approx. 220 people in London in various divisions with extended teams in India.

SHOPLC GERMANY OVERVIEW:
Shop LC Germany TV & E-Com was launched in 2021 from Dusseldorf, Germany. We are very excited with this new market and see tremendous growth potential in Germany and entire Europe. Our coverage has already reached 27 million households and is expanding. Our E-Com side of business can be checked out through our website https://www.shoplc.de/ .

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