The number one earwear audio brand in India is boAt. Users can experience both spirit and energy at the same time.
boAt Lifestyle is a young firm that has only begun to go into the vast world of audio products. Despite the rivalry, though, the figures seem positive for them, as they continue to climb. Aman and Sameer began with a capital of around $3 million, which came from the two founders.In the market, the firm is consistently functioning well. Its domestic sales alone had exceeded Rs 100 crore. The firm has grown from two founders to a 35-member team with operations in the top two metro cities of Mumbai and Delhi.
boAt is an Indian firm that sells quality tough cables, earbuds, headphones, and wireless speakers. Wireless speakers, earbuds (Airdopes), wired headphones, home audio equipment, and a few types of mobile phone accessories are among the products designed by the firm.
Croma stores offer the company’s items, and it also sells them on Myntra, Amazon, Jabong, and Flipkart. Boat’s growth has been aided significantly by the product’s performance. According to the latest sources, boAt is planning to buy Tagg Digital, a consumer electronics company located in Delhi. Despite the fact that conversations on the subject have been ongoing for about two months, the deal’s details have lately been concluded. It was also revealed as part of the purchase that the company’s co-founders and the Tagg Digital team will join boAt when the transaction is completed.Early next year, boAt plans to go public. The business is now raising up to $500 million (Rs 3500 crores) at a valuation of $1.4 billion, with plans to IPO between March and June 2022.
What really is the origin of boAt?
It is a Delhi-based firm founded by Aman Gupta and Sameer Mehta in 2016. The business describes itself as a lifestyle brand that sells trendy consumer gadgets. boAt Lifestyle was founded with the express purpose of providing millennials with inexpensive, durable, and most importantly, “fashionable” audio devices and accessories.
It began as a cable producer and marketer, but has since extended its product line. It now sells a wide range of trendy electrical items, including portable chargers and luxury cables, as well as headphones, earphones, and speakers. The firm is quickly expanding, and its services are already available to millions of ‘boAtheads’ (A term the company uses for all its consumers and brand ambassadors). Despite the fact that the voyage took only four years, the firm now has over 800,000 satisfied consumers.
“We are like Zara of electronics, not highly-priced like luxury brands or cheap like Chinese products” – Sameer Mehta, boAt Co-Founder
Business strategy of boAt
The creators put their studies into practise and created items that were inexpensive, long-lasting, and trendy. It concentrated on the customer-brand relationship, treating purchasers as members of the Boat family. The owners also put a lot of emphasis on the brand Boat, portraying it as an Indian brand by recruiting cricketers and celebrities as brand ambassadors, as Indians are huge fans of cricket and Bollywood films. People would just buy the things after seeing their favourite celebrities wearing or utilising them on television.
With clever pricing and good appearance, the firm was able to build a large consumer base and become a billion-dollar corporation in India.
“We have tried to change the consumer mindset. We don’t sell our products as electronics only. We sell them as lifestyle accessories. We are trying to portray that our products can be a part of your everyday fashion.”
– Aman Gupta, boAt’s CEO and Co-Founder
Future plans of boAt
The business feels that buying earbuds together with new smartphones is always a trend. Boat believes that this notion will help them succeed. The big phone manufacturers, according to sources, are in the process of establishing new relationships with audio businesses. Samsung, for example, has JBL and Harman, whereas Apple has Beats, and so on. These companies are luring customers in with great offers so that they don’t have to buy earbuds or headphones individually.