We take absolute pride in how India trusts us and supports our every new innovation and technology. However, with all that love and support comes the responsibility of giving it back to the community.
For us, passion holds utmost importance. The philosophy of Do What Floats Your boAt stems from that very zeal that inspires our hustle and pushes us towards achieving even more milestones. To support and strengthen that belief to always follow your passion, we collaborated with some changemakers last year.
Hear Me Roar - A Campaign Supporting Underprivileged Kids and their Passions
Hear Me Roar was a step towards employing the message of Do What Floats Your boAt by offering support to underprivileged kids who wish to pursue their passions across dance, music, drama, and cricket. We collaborated with Kailash Satyarthi Children’s Foundation and added another layer to their Bal Mitra Mandal programme with our philosophy. The initiative, which is a year-long training program, focuses on empowering youngsters and providing opportunities to develop and showcase their talent in their respective fields.
The children who were a part of the programme were also invited to the boAt office to perform and interact with the team. The day was filled with overwhelming performances, including an inspiring rap, a street play, and a dance performance that truly showed how passion drives them and pushes them to do what floats their boAt despite all odds.
To culminate the programme, we hosted an event on 11th January 2023 to celebrate Surakshit Bachpan Diwas with the participants, Nobel Laureate Kailash Satyarthi, the Minister of Social Justice, and empowerment Hon. Mr Virendra Kumar, and Co-founder and CMO, boat Lifestyle, Aman Gupta.
Freedom To Play - A Talent Development and Girl Empowerment Initiative in Sports
With the aim of addressing the issue of providing quality education and opportunities to young girls in the field of football, we collaborated with Shikhar Dhawan Foundation under the ‘Freedom to Play’ initiative. Focusing on working towards community upliftment, ‘Freedom to Play’ hosted 130+ girls from across Delhi NCR and provided talent development scholarships to gratify the best performers with an opportunity to embrace their skills. The tournament was kicked off by Aman Gupta, Co-founder and CMO, boAt, and Shikhar Dhawan, Indian cricketer and founder of the foundation.
A Unique Scholarship for Prathamesh Sinha
When Shark Tank’s 11-year-old contestant Prathmesh Sinha visited our office in Hauz Khas, it brought more than just a wave of enthusiasm. He always wanted to spend time with his favourite shark, Aman Gupta, so we gave him a day to be the CEO and interact with the team. We together played lots of games, jammed on live music, and ate all of his favourite food! After a heartfelt day full of high-spirited activities and conversations, we awarded him with a unique scholarship that would further aid him in attaining a fulfilling and empowering educational environment.
We also wished to help him in his journey of becoming a motivational speaker. At the boAt leadership meet, Prathamesh had the stage to himself where he stole all our hearts and left us speechless.
Like they say, “Alone, we can do so little; together, we can do so much.” Here is to hoping that this generation keeps chasing their passions and we continue shaping these communities by encouraging them to do what floats their boAt.
Having cemented its position as the number two player globally in earwear, boAt is ready to ramp up its footprint with a fresh round of investment. The leading D2C electronics and wearables start-up by founders Aman Gupta and Sameer Mehta has announced the raising of INR 500 crore ($60 million) from current investor, Warburg Pincus, and a new investor, Malabar Investments.
This latest series of funding ‘reflects continued conviction and confidence from investors in the boAt story’, according to the official statement. As a result, boAt has now set its sights toward expanding its footprint across geographies and channels, with an emphasis on establishing boAt globally and augment its status as a category leader in audio. R&D, design and boAt’s support of the local Make In India manufacturing ecosystem will also receive a timely impetus.
When Will boAt Launch Its IPO?
This development arrives at a time when boAt has been mulling over launching an IPO after it was allowed to raise INR 180 crore before getting listed. However, as a consequence of the fresh fundraise and in compliance with SEBI regulations, the company has ‘proactively’ withdrawn its draft red herring prospectus (DRHP) filed in January to launch an IPO worth INR 2000 crore this year.
Now, boAt’s IPO launch is expected to be reassessed in the next 12-18 months, with the company officially stating that it intends to go public ‘once we have scaled up our wearables business and when financial markets improve’. According to the latest data, boAt registered INR 3000 crore in revenue with a 100% year-on-year growth in FY22.
Towards Becoming a Global Leader
Since its launch in 2014, boAt has fast-tracked its growth to become a market leader across smart wearables and audio electronics. boAt also enjoys technology partnerships with globally-renowned players like Qualcomm, Dirac, and Dolby. Recently, it also entered into a joint venture with electronics manufacturing services player Dixon Technologies. At present, boAt manufacturers over 1 million units of its products in India on a monthly basis.
boAt’s focus on diversifying its portfolio has resulted in five brands to its name, including boAt, as well as the likes of Redgear, Tagg, Defy, and Misfit –the company’s own personal and grooming brand. With fresh investment providing a fillip to turbo-charge its growth further, boAt is now ready to become a global leader across categories. boAt Co-Founder and CMO Aman Gupta emphasised on this point further:
We now want to make smartwatches our second core and will replicate the boAt digital playbook to become global leaders in this category as well. The new funding will allow us to invest significantly to disrupt the smart watches space with more innovative products.
Like the last 7 quarters, Imagine Marketing India, the parent company of audio & wearable brand boAt, has ranked among the top 5 global wearable companies this quarter too.
The leading market research and advisory firm, International Data Corporation (IDC) deemed Imagine Marketing India 5th position globally in its Worldwide Quarterly Wearable Device Tracker Q2CY2022. According to the reports, in all the top 5 leading companies, Imagine Marketing is the fastest growing company in 2Q22 with a positive Y-O-Y growth of +76.6%
Another fascinating thing to note here is that Imagine Marketing India has also firmed its leadership position in the Indian wearables market by capturing a 31% market share in July-22.
Not only the wearables market but Imagine Marketing India also leads the TWS category with 40%+ market share in July-22.
For TWS, the company was ranked keeping the affordability, availability, seamless & advanced functionalities such as ANC, and introducing low-latency for gamers in its innovatively designed products.
Whereas for the wearables sector, this globally 5th ranked company has introduced Bluetooth calling, AMOLED Display & bigger screen sizes. The wearable category has also proven to be the fastest-growing category for Imagine Marketing India, showing strong momentum with >145% growth over the last year.
The brand is now able to introduce items more quickly and at affordable prices as "Make in India" scales up. According to the brand's plan, they aim to produce 6 million units in H1FY23 under the Make in India policy.
The company's strong omnichannel presence, whether online or offline has turned out to be a big success.
In The Words Of Aman Gupta (Co-founder & CMO):
Design, innovation, and customer centricity are core to our business. The success of our brand can be credited to our agility, fast innovation cycle, and constant listening to our boAtheads. We are humbled and overwhelmed with the confidence and support entrusted by customers over the years. It is a moment of pride for all Indians as it validates the growing acceptance of home-grown brands globally. With the support of our Govt., we will aim to become a global lifestyle brand. We at boAt understand the requirement of millennials and will continue doing what we do best to serve the community of boAtheads.
When two powerhouse brands collaborate, the result is sure to be magnificent. This is what happened when India’s leading earwear brand, boAt, and Warner Bros Consumer Products & DC came together to create superhero theme audio wear designs products under boAt | DC.
The iconic characters of Batman, Superman & Wonder Woman are selected for this one of a kind campaign. boAt’s top-performing audio wears, including Airdopes 131, Rockerz 450 & Stone 190, are freshly dipped in the new DC skins of the Trinity.
From raging red like Wonder Woman to the dark aesthetic of Batman, these products have been painted with the coolest designs for you to don. One of the best kept secrets of this collaboration is Airdopes 441 Pro which comes in a special Batman edition.
Both Mr. Aman Gupta, the co-founder & CMO of boAt and Mr. Vikram Sharma the Head of Consumers Advertising and Partnerships, Warner Bros. have expressed how ecstatic they are with this new alliance.
Aman Gupta, who is all about the boAt community, mentioned: “We feel our boAthead community would really appreciate this truly unique collection.”
Those products are mainly headphones,a lifestyle statement for every youngster. There lies the moolah €“ the company clocked more than Rs 100 crore revenues - for the brand last year. Aman, a Bollywood buff, knows the big picture and regales me with Salman Khan, Amitabh Bachchan analogies. The story of boAt surely sounds like one, a box-office hit in the making. boAt doesn't operate like one of the fancy startups I get to meet often. Aman tells me that boAt was operating out of Social, a cafÃ© doubling up as an office space, and also found some of his employees there. In January the company shifted to Lets Cowork.
The company has 15 brand ambassadors on board. It is an impressive line up €“ Kartik Aaryan, Hardik Pandya, Jacqueline Fernandez, Shikhar Dhawan and more. They all hardsell the brand on their social media handles. boAt has two Co-founders, twin head offices, one in Delhi for sales and marketing spearheaded by Aman and the other in Mumbai headed by Sameer Mehta catering to product, logistics, and the operations side of the business. The founders meet in Delhi, Mumbai or Bangalore where their investor Fireside Ventures has its office. Else they visit China once in two months where the contract manufacturing is happening for all boAt products. I go more hotel nights with Sameer than with my wife. I call it an arranged marriage between Sameer and me, laughs Aman.
THE BROTHERS OF MUSIC
The founders come from different backgrounds, never interacted prior to setting up boAt and have been sailing in this startup journey togetherfor the past five years. Sameer didn't like being part of the rut, just managing a traditional family business called Kores India Ltd, and Aman, who is a CA byqualification and an MBA from Indian School of Business, found his love in sales and marketing while working with JBL. Both of them wanted to do something in the audio space via the online medium. When asked how his qualification helped in his startup, Aman says, I ensure wherever we spend we get money out of it. That's thebaniya plus CA in me. In the initial days, Sameer says, We approached international companies to distribute their products in India but realized we are yin and yang and will complement each other, become better andbigger. Ten days later we found the company. We didn't have enough funds to experiment on 100 products so we decided to first get international brands to know what people want and what price point works, post that we launched our own brand. The company is clear on what to keep and what to outsource. When Aman partnered with Sameer he knew as the latter understands the Chinese manufacturing system well he can take the idea further. Aman always wanted to start something on his own and a friend introduced him to Sameer and both worked on production and marketing.
AUDIO IS THE KEY
So far audio products have been the domain of established, and mostly international, players such as JBL, Harman, Sannheiser. An Indian player all set to disrupt the audio market was unheardof. The founders spent time on getting the product right from 2014 to 2016. They started with such basic problem solving ideas such as having a charging cable which can endure 5000 bend test (the usual industry standard is 1000 tests) and came up with boAt's first winning product. Says Aman, Our first product was wire. Every time the charging cable used to break. That is the first pain point we solved, we call it jugaad innovation. Our cable is built so strong it will not break. Most products were driven by market demands, like longer cable, wireless airdopes, tangle-free cables. Since 90 per cent of India likes bass the products were built bass heavy. Apart from durability,the second star value of the brand is being fashionable. Whether it's taking a licence of Chennai Super Kings to launching a special range or getting designers on board such as Kunal Rawal the beautifully designed products are like a breath of fresh air. The third aspect the team worked upon was making it affordable for a millennial. Their airdopes come with an affordability price tag of Rs 2,999. The company typically hires people in the age groupof 20-22, for a reason. We didn't bring people with baggage, we wanted raw talent. Fresher blood in the company keeps innovation alive, adds Aman. Talking about the challenges posed by bigger brands, Aman says, As a challenger brand we don't have the mercy of the consumers. If we give them one bad product they will write us off.
But boAt is sailing smoothly. At the Lakme Fashion Week, the brand displayed the product as the only accessory the models were wearing. The brand plans to cash in on the Make in India campaign and base its manufacturing only in India.
Currently, India is a 10,000-crore mobile accessories market. The market is projected to boom to $3.54 bilion by 2024, according to a report by Research Nester. Headphones are more personal, more to do with lifestyle that is cherished. And so boAt's adoption is swift. The colors are disruptive in its newly launched trippy collection. To be sure there were hiccups along the way. Sharing the initial failures of the brand, Aman says, One year back from wired everything started becoming wireless. We thought we can bring in products fast. And we launched a sub-standard product but that back fired. Then we went back to the drawing room. That failure taught us that you can't take your consumers for a ride. The company now launches 1000 units first, and waits for the customer response. The hit rate usually is 70-80 per cent. If products don't pass they go back to the drawing board.
boAt works with Qualcomm and other technology players to be ahead of time. The company currently has only 60 per cent fill rate. The brand often gets flack on social media for this. Aman says, The biggest problem in our industry is stock obsolescence. It is better to be sold out than be overstocked.
So the next question pops up. Why only Fireside as an external investor in the company, and that too when the company is profitable? Says Aman: Once an investor asked me, what is our burn rate, I told him ask me our earn rate. We don't burn money, we earn money. Aman was clear that they would not raise funds like other startups and truly wanted a mentor, and they found one in Kanwaljit Singh. Aman started approaching Kanwal through Linkedin when the company's revenues touched Rs 30 crore and closed the Fireside funding when they were nearing the Rs 100 crore-mark last year. Talking about the value Kanwal brought on board, Sameer shares, We both were managing the business but he showed us the larger picture, he brought in a lot of discipline. He is now helping us in taking the Rs 1000-crore vision forward. The company is now looking at debt funding for working capital instead of venture funding.
Currently 80 per cent of sales of the brand happen through the online medium largely driven by Amazon and Flipkart. Right now the repeat customer ratio is 30 per cent. The company is planning a B2C website for the brand. Since offline is picking up now, the brand has partnered with Croma, Vijay Sales and others. Aman adds, Now when we are going offline, retailers are accepting us because consumers are asking for us. Now boAt doesn't have to prove to retailers. The brand has launched five shop-in-shops in partnership with Croma. The brand is also launching voice-enabled products.
What keeps the boAt team going? I might be passionate but I am paranoid. Every day I feel consumers are changing and I have to change again. Our biggest fear is not to run fast enough else we will be disrupted.
boAt's 30-member crew will grow to 40 soon. They will ensure the company is agile and create a different sound of music to enthrall its customers.
Electronics maker, boAt has received a commitment of INR 20 Cr (about $2.9 Mn) in venture debt from BAC Acquisitions, which is cofounded by the Flipkart founder Sachin Bansal.
Commenting on the fundraise, cofounder boAt said, venture debt definitely helps us keep the capital structure intact. boAt's financial performance has been strong since inception. Our efficient and lean business model coupled with targeted business insights has allowed the brand to enjoy logical margins so that we can earn money and not burn money.
Founded by Aman Gupta and Sameer Mehta in 2016, boAt is a consumer tech brand which manufactures electronics products such as earphones, headphones, speakers, sound bars, travel chargers, and premium rugged cables. Its products are made through contract manufacturing in India and China.
boAt products are available both online (Amazon, Flipkart, Myntra, Snapdeal, etc.) and offline (Croma retail, Vijay Sales, Poorvika Mobiles, etc). The company had earlier raised seed funding of INR 6 Cr. (around $872 K) from Fireside Ventures in May 2018.
boAt claims to have acquired over 1.2 Mn consumers, and is currently selling over 8K units per day at an average of 5 units per minute. It claims to have recorded INR 100 Cr. as gross sales FY18 and is further eyeing INR 500 Cr. in sales over the next few years.
The current size of India's music industry is $122.2 Mn (including both physical and digital music platforms), showcases the growing demand for not just production but also on how it will be consumed. For example, income from subscription-based audio streaming stood at a staggering $31.6 Mn in India in 2018, a three-fold growth from subscription-based revenue in 2017.
The music accessory sector is crowded with a number of well-established brands, including popular brands such as Apple, Bose, JBL, Sony and Sennheiser, Indian players like Karbonn, iBall, Intex and MuVu, along with low-cost chinese products.
According to Inc42 DataLabs, with a total of 27 deals securing $111 Mn funding from 2018 to February 2019, the consumer technology sector looks promising. Industry reports state that the market of Indian appliances and consumer electronics (ACE) reached $31.48 Bn (INR 2.05 Tn) in 2017, making the country one of the largest electronics markets in the world.
The report has further predicted the market to grow at 41% CAGR between 2017-20 and reach $400 Bn. Analysts also forecast that with the rising number of startups such as GenRobotics, SectorQube, boAt and Planys Technologies, the consumer technology sector is set to make a mark in the overall Indian startup industry.
boAt Lifestyle, a brand recognized for its Audio electronic products becomes the 1st Indian brand to be showcased at both Google and Amazon booths at CES 2020. The home-grown brand unveiled its Rockerz 315 SVA smart wireless earphones with an inbuilt Google assistant at the event. In addition to this, the brand also showcased its recently launched Stone 200A, a smart speaker with inbuilt far-field Alexa capabilities like playing music, checking the news, weather forecasts, controlling smart home devices and accessing over 30,000 Alexa skills across genres.
boAt Lifestyle is known for its intricate audio engineering, supreme comfort, exquisite designs and best in class audio quality products. It brings music to your daily routine in a seamless manner, with top-notch sound quality and a user experience like none other.
Filled with excitement, Aman Gupta, Co-founder boAt Lifestyle says €œWe at boAt are proud to be the first-ever Indian electronic consumer brand to be showcased at the Google & Amazon booths at CES this year. Our partnership with Google and Amazon is a testament to our commitment to offering future-ready products. Understanding the needs of our boAtheads we have launched wireless earphones with inbuilt Google assistant and Alexa enabled speaker that will work conversationally, just how the millennial like their devices to be €.
The brand is targeted to tech-savvy consumers, mostly millennial, looking for stylish and quality products that are affordable too. These two products show the boAt €™s commitment towards offering smart products at an affordable price. boAt €™s products on display at CES 2020 include
CableboAt Rockerz 315 SVA at Google's booth: boAt Rockerz 315 SVA is the smart wireless neckband styled earphones with inbuilt Google assistant. Its unique 12 MM dynamic drivers, integrated controls, 9 hours of battery backup along with the ability to be operated with voice commands to set alarms, play music and make phone calls makes it designed just for the future.
3boAt Stone 200A at Alexa's booth: Stone 200A is a smart speaker with inbuilt farfield Alexa capabilities like playing music, checking news, weather forecasts, controlling smart home devices and accessing over 30,000 Alexa skills across genres. Its unique features inclues- IPX 6 Water Resistant, making it the perfect poolside accessory. 1.96 x 1 Full Range Drivers with 5W Power Output brings the sound of a lifetime with HD Clarity that integrates into pure audio bliss. The Bluetooth V4.1 enhances wireless connectivity up to 10 meters. Stone 200A's intricate audio engineering, supreme comfort, exquisite designs makes it portable and powerful. This speaker truly aligns with the vision to bring Alexa to customers wherever they are.
boAt Stone 200A is the lowest priced Alexa built-in far field speaker on Amazon.in and is available at an introductory price of INR 1499. The product carry's a 1-year warranty and is available at Amazon.in
boAt has launched the Watch Storm which is a smartwatch designed for those who perform high-intensity workouts and require precise health and fitness-monitoring.
boAt Watch Storm is the perfect companion for your fitness transformation. With its daily activity tracker and 9 different sports modes, it will now be fun to track your journey towards health.
A battery life of up to 10 days will keep you alert at all times with smart notifications from your phone and vibration alerts for calls, texts, schedule reminders, alarms, & more!
Aman Gupta, co-founder of boAt Lifestyle, says, €œAt Boat we take consumer feedback very seriously and since a long time our Boathead community has constantly been asking us if we will be expanding to other categories. We are happy to announce that Boat Storm is our first smartwatch and a step in that direction. The smartwatch is a feature packed premium yet value for money package. The Boathead community will love this device as it will be their constant companion during work and play €.
The wellness mode of the smartwatch monitors your sleep, heart rate, blood oxygen levels as well as guides you into a meditative state when you need to relax. It also comes with a menstruation cycle tracker that predicts your cycle and health.
Its €˜find my phone €™ feature that will call your phone to easily locate your phone when you don't remember where you kept it. The 5 ATM water resistance will keep the watch safe from splashes & sweat too!
Back when crowds were still a thing, boAt headphones were really popular. During my commute to work, I saw a number of people with boAt headphones in Mumbai €™s extremely crowded local trains. The company is so popular that it is not just another audio gear brand, it €™s a phenomenon in its own right. The popularity has resulted in the brand creating a cult following, often referred to as boAtheads. It is difficult to build a company that makes hardware products.
boAt Lifestyle not only makes hardware but has proven that it can succeed. In all probability, those people are now using their boAt headphones indoors. The reliability, cost and ease of purchase has been such distinguishing factors that boAt customers tend to repeat purchase from the company. This unparalleled growth was very well reflected in the recent report from IDC. According to the research firm, boAt ranked No. 1 in the earwear segment in India in 2019.
Focus on 2021 to get away from COVID-19 outbreak
Aman Gupta told me that the company is focusing on 2021 as the year is now moving away from his hands due to the pandemic. Tech industry has seen a lot of visionaries who have weathered tough times. Steve Jobs brought back Apple from the verge of bankruptcy. Satya Nadella recently made Microsoft cool again. Lisa Su, CEO of AMD, has shown that it is not playing second fiddle to Intel. This isn €™t the story about the meteoric rise of boAt to become the leading earwear brand.
In fact, this story is an attempt to look at what comes next for this thriving company. Like tech leaders mentioned above, Aman Gupta is weathering a big challenge, one that was not really on the horizon a few months back. On the phone call, he directly acknowledged the switch to focus on the product roadmap for 2021. €œRight now nothing to do just marketing things and planning for next year, € he said acknowledging that it €™s been boring for him to stay away from product action.
The tech industry and manufacturers, in particular, are looking to find a wiggle room during the second half of this year. Aman Gupta wants to stay sharp and focus on a period that will be more under his control. €œWe get worried with what €™s happening in the market and looking at where stocks are moving and recession fears, € he said during the call. €œIt €™s a scary situation but I hope we come out stronger, € the optimist in him continued.
Starting a hardware company and sustaining it has been an uphill task. Even Andy Rubin, the co-founder of Android, could not keep his new hardware company Essential ticking in the cost conscious market. In comparison, boAt Lifestyle is very much an upstart. It has built a business model around lean manufacturing philosophy and one where consumers are the only king. The company has delivered premium products that don €™t come with a huge premium in terms of cost.
Reliance on China for manufacturing and supply
In order to balance the cost and product efficiency, boAt relies extensively on China. It is the place where boAt headphones are made. The easiest way to describe would be that boAt headphones are designed in India but assembled in China. The boon of rapid manufacturing also became the bane for this company. As soon as China commenced lockdown, boAt stopped getting shipments and when China started its recovery phase, India began lockdown. As a result, boAt says some of its products planned for the first half of this year remain stuck in China.
He explained on the call that the company did not see any kind of disruption in supply from China during December last year or in January of this year. In fact, it was business as usual for them even during Chinese New Year celebration from January 15 to January 31. The reality stuck in February when the disruption really. €œNow, China is fully open but India is fully closed, € he explained on the call. €œEverything is getting manufactured but what is happening is we cannot take deliveries because of the lockdown, € he added.
While the situation remains difficult in business terms, Gupta also noted how relationships remain stronger. During these difficult times, the company continued to support its manufacturing partner in China. Now, boAt €™s partners are paying back by displaying stronger relationships. He says the Chinese partners offered to help with sourcing critical items such as smart thermometers but getting deliveries remains a challenge. While pandemic and supply constraints remain a challenge, boAt Lifestyle sees consumer spending as the real threat.
Product and People First Approach
Aman Gupta told BGR India that when the lockdown gets lifted and economic activity resumes, people won €™t immediately be spending like before. This is a looming threat and one that economists have been alerting governments around the world. €œThere will be a little time for people to get back to normal. It will not happen where the market will suddenly shift even even if all goes well, € he said. €œThere is a negative sentiment in the market along with recessionary fears. People want to save things and conserve things, € he further explained.
For boAt Lifestyle and its eccentric co-founder, the priorities are set. Instead of focusing on a phase which remains unpredictable, they are setting focus on the year ahead. What does it mean for boAtheads? Well, you will get to buy boAt headphones as usual once the country lifts the lockdown. Aman also explained that the business was not particularly great before the country went into lockdown. He says the business spike happens towards the end of the year, especially the fourth quarter. As a result, boAt was not significantly affected by the lockdown in China and lockdown in India.
COVID-19 lockdown has also shown the ugly side of this industry. With sustainability coming under question, tech companies are laying off employees faster than ever before. boAt Lifestyle, which is an operation comprising a small team, is taking a different approach. For starters, the co-founder told me that there are no layoff or furloughs being planned. €œI personally feel that our company does not hire and fire fast. We didn €™t hire too many people and are a sustainably strong company, € Gupta said. €œWe don €™t burn money, we earn money, € he added. For the time being, boAt Lifestyle plans to hand out paychecks as usual without any cut. However, it does not plan to hire any additional workforce till the time this situation gets better.
Sustainable business model
The common theme coming out of the conversation was how this four year old company has built a fundamentally strong operation to sustain this crisis. However, the situation is far worse for smaller companies. Gupta mentioned that if COVID-19 had struck last year then it would have been difficult for them as well. €œBigger brands will sail through this much faster than smaller brands, € he observed.
One of the cardinal rules I follow while writing about any product is understanding the intent of the brand and the target audience. When I was reviewing the boAt Airdopes 201, the thing that stood out the most was intent of the device. It was clear that the product was aimed at a community of users. It was not about bells and whistles features but rather about delivering experience. Aman Gupta told me that the company is primarily catering to a customer base that already owns boAt headphones. €œOur product is excellent and coupled with outstanding marketing, that is what is the secret to our success, € Gupta adds.
For boAt, the challenge is not just the outbreak of this pandemic. It is also seeing new competition from established brands like Samsung. The South Korean company has introduced a new range of audio products called Infinity under its AKG brand. Aman Gupta notes the product philosophy is identical to that of boAt. While he is wary of the product, he does not see the market as one where the winner takes all. €œWe are not the cheapest Indian manufacturer of headphones. We are competing in the premium price product category. €
He says competition keeps the company on its toes but it is not getting paranoid or complacent about it. With a niche following for its brand and room for growth, the company is focused on the next lineup of products. It is already a big player in the wireless audio market and fancies a big play in the true wireless market as well. In fact, boAt sees duopoly as the next big thing among consumers. By duopoly, I mean having more than one headphones. Gupta sees an industry where consumers will buy wired, wireless and true wireless headphones for different use cases.
Future Product Roadmap
As a result, the company wants to ensure that customers stick with the brand and don €™t move away to its competitor. boAt says 20 percent of its sales comes from wired headphones while the remaining comes from wireless and true wireless segments. With the TWS segment catching up in a big way, the company sees an opportunity to become a leading player in that space as well. One of the ways that boAt can become a leader in the true wireless earbuds market is by relying on Qualcomm €™s newest chipsets. These chipsets are designed to bring noise cancellation to wireless earbuds.
Aman Gupta says that consumers are already aware of this new chipset and want them in new products. boAt will definitely launch new audio products with the aforementioned Qualcomm chipsets. For Aman, the goal remains as simple as adapting to consumer demands and offering better products than his rivals. He adds that true wireless earbuds are not even 5 percent of the market and has huge room to play. €œTWS is an early mover game right now and will become mainstream in two years, € he quipped.
Technology is the biggest enabler in the world that we live in right now. After talking to Aman Gupta, it became clear that technology can make lifestyle better for a lot of us. When it comes to audio, boAt Lifestyle wants to be at the forefront of that change. While the COVID-19 outbreak has been a big disruption, the company sees it as a minor roadblock. It wants to come out of this situation stronger and more focused towards boAthead community. Only time will tell what it comes next but it is definitely inspiring to see a young tech company try to change the narrative in the industry.
Teams up with three T20 franchisees - Mumbai Indians, Chennai Super Kings, and Kings XI Punjab as their licensed audio partner
boAt €“ a lifestyle brand offering consumer audio products is betting big on cricket. The brand has roped in Shikhar Dhawan, Jasprit Bumrah, Rishabh Pant, and Prithvi Shaw as brand captains to connect and further strengthen the brand €™s appeal among the target audience. The brand is now represented by six Indian cricketers including Hardik Pandya, and K. L. Rahul. The company will roll out a new advertising campaign featuring the new brand ambassadors.
Celebrating the T20 carnival and further setting the tone for this cricket season this year, boAt has also partnered with Mumbai Indians, Chennai Super Kings, and Kings XI Punjab as category partner. As part of the collaboration boAt has got the partnership rights and will additionally launch limited edition headphones and speakers inspired by the insignia and colours of the teams, to cater to the fans of the respective teams. The starting price of these licensed products are Rs 499 and will be available online on sites like Amazon.in, Flipkart and more. The company will soon roll out a new advertising campaign featuring the new products.
Commenting on the partnerships, Aman Gupta, co-founder, boAt said, €œIn a country like ours where cricket has been a sport on the field and a €˜religion €™ for fans. This is the first time a brand has done something like this for cricket. We are delighted to announce our partnerships with star cricketers and the three T20 franchisees. €
IMG Reliance has been working closely with boAt on all their sports partnerships. On boAt and associations, Nikhil Bardia, head of sales at IMG Reliance commented, €œboAt is a challenger audio brand that is willing to break conventions and defy status quo. The new cricket and its players associations are innovative in their approach and represent an audience of choice. The millennial fan maps perfectly with the boAt audience who are looking to make a statement with their choice of audio accessories. As a company we endeavour to create meaningful partnerships for brands like boAt in areas of sports and entertainment. €
In a sector dominated by established global brands, boAt has ramped up quickly in a short span of three years, through its core high-quality audio product line of smart, efficient, stylish and durable €˜hearables €™. The brand has already registered Rs 100 crores in FY'18 as gross sales and is eyeing Rs 500 crores in the next few years. It has already created a community of over 1,200,000 boAtheads (consumers) who want to be seen listening and wearing their boAt accessories to make a lifestyle statement.
The latest funding also marks an addition to InnoVen €™s portfolio of consumer brands, comprising companies such as Vahdam Teas and Svarochi.
NEW DELHI/ MUMBAI: InnoVen Capital has recently invested Rs 16 crore in consumer electronics startup boAt. InnoVen Capital has been aggressively expanding its portfolio of consumer brands and has already extended venture debt to online luxury tea brand Vahdam Teas and smart lighting company Svarochi in 2019.
Launched in 2016, boAt is a new-age consumer tech brand which manufactures electronic products through contract manufacturing in India and China. Its product offerings include earphones, headphones, speakers, sound bars, travel chargers, and premium rugged cables. The company has clocked over Rs 100 crore in domestic sales alone since its inception.
Sameer Mehta, Co-founder €“ boAt, said in a statement, €œWe are delighted to secure a debt investment from InnoVen Capital, as it gives us the opportunity to raise growth capital without diluting equity. As we scale greater heights, we will continue to focus on profitability and sustainable growth while minimizing our cash burn. €
The move is aligned with InnoVen Capital €™s objective to capitalize on the expected increase in consumer spending in India by investing in high-potential consume.
Ankit Agarwal, Director €“ Innoven Capital, said in a statement, €œIndia stands at an inflexion point of an S-shaped consumption curve, where discretionary consumer spending will increase disproportionately with the increase in the national GDP. New-age consumer startups are well-poised to capitalize on this opportunity. We believe that insurgent brands in India have a huge growth potential and will achieve rapid scale in the near future.
boAt, a consumer electronics brand incepted in 2016 is slowly becoming a buyer €™s choice with its affordable, travel-friendly and durable products in the segment. The brand €™s tagline €˜Plug Into Nirvana €˜ is justified by the enthralling experience of listening to one €™s favourite music using Boat products. The Mumbai-based company views its ever-evolving products like fashion accessories, not just lifestyle products.
Establishing a dedicated user base in just a few years, boAt manufactures a wide range of products such as Airdopes (boAt €™s very own airpods), wired and wireless headphones, Mobile accessories, speakers and limited-edition products. boAt is dedicated to its R&D which is visible in its quirky colour choices such as Winter Chestnut, Viper Green, etc along with the dramatic designs like the Stone 650 Speaker with the Diamond-shaped mesh.
The boAt Stone 200 Bluetooth Speakers has the following features:
- Design: It has a quirky design and comes in three colours €“ Black, Blue And Orange. The black plastic base is covered with coloured rubber matte finish running along its borders to protect it from accidental damages.
- Ergonomic Utility With Innovation: It has four inward buttons €“ one for play/pause, one for power and two for volume control. The Micro-USB and Aux slots are hidden underneath with protective rubber cover.
- Compact Size: boAt Stone 200 is a portable speaker with compact size and lightweight, perfect for candid experience as well as travelling.
- Sound Quality: The speaker produces a high-quality sound- its a powerhouse in itself, for its size and cost. It offers a great range of volume with high clarity, robust bass and amplified sound.
- Battery Specs And Life: It contains a 1500 mAh Battery, which works for 7-8 continuous hours of use after a full charge.
- Connectivity And Range: The speaker has a 10 M range of Bluetooth 4.1 and can be connected with all devices. In addition, it comes with an aux connectivity option.
- Ease Of Use: The Speaker is easy to connect to devices and even has a built-in-mic to enable hands-free calling and uninterrupted music listening experience.
- Resistance And Reliability: The rubber matte coating makes the boAt stone shock-proof, water-proof and resistant from dust. It comes with an IPX6 rating. The device is reliable with a majority of users admitting years of use.
User Ratings Of boAt Stone 200 Speakers On Amazon:
4.4 On Amazon with over 25,000 reviews
Top Reviews Of boAt Stone 200 Speakers On Amazon:
- If you want a compact, portable and robust speaker, then this is the thing. Don €™t consider anything other than this. It has powerful bass that will blow you up. The battery life is enough to go through your entire playlist. Its design is inspired by the military €“ tough and durable. I still wish it had olive green. The mids and treble are also too good. It beats most of its competitors by miles in this range. (By Nikhil Mavali)
- I bought it for hiking and it served the purpose, went all out for 12 hours backup as promised, in snow, rain and dirt on my bike to Ladakh. This is a sturdy little beast with a great loud sound clearly distinguishable on a bullet. Outright Worth-IT in this price bracket.
JJust recently, the popular music apparel brand boAt had roped in Kartik Aaryan as their brand ambassador. Well, now we hear that joining Kartik will be none other than Kiara Advani. Apparently the brand was on the lookout for a fresh young face, and Kiara fits the bill perfectly especially with her recent box office successes.
Taking to the image hosting site, Instagram to announce her association with the music apparel brand Kiara shared an image from one of the shoots saying, €œThrilled to be on board as the face of @boat.nirvana €. Back on the film front, Kiara has a packed year ahead with multiple projects. In fact, the actress will first be seen in the Shahid Kapoor starrer Kabir Singh, followed by Good News that stars Akshay Kumar and Kareena Kapoor Khan. Later in 2020 Kiara has Laxmmi Bomb and Shershaah.
Placing India on the global wearables map, home-grown brand boAt Lifestyle became the world's 5th largest wearable brand basis shipments as per the leading market research and advisory firm International Data Corporation €™s (IDC) Worldwide Quarterly Wearable Device Tracker for 3Q20 (July-September 2020).
In addition to becoming the 5th largest wearable brand, boAt has also solidified its position in the Indian market by capturing 1/3rd market share.
According to IDC data, the brand sailed through the pandemic to break all records and has witnessed a growth of 4X to reach 3.3 million units shipped in the last quarter.
Congratulating boAt on this historic occasion Rajesh Sharma Executive Director and Principal Advisor at Indian Cellular and Electronics Association (ICEA), €œIt €™s indeed a matter of great satisfaction and a proud moment for us to witness an Indian brand capture the one-third of the earwear / mobile accessories market.
We at ICEA have always been supportive and promoting Indian Champions and, envisage boAt to export its products globally. Indian start-ups are competitive and have the potential to become global leaders.
We need to focus on building capabilities in domestic R&D and undertake vertical integration across the wearable space to establish India as a global supplier".
boAt has been challenging the status quo in a sector dominated by established global brands. It has ramped up quickly in a short span of just over four years, through its core high-quality, smart, efficient, stylish, and durable line of audio products.
We are humbled, overwhelmed with the confidence and support entrusted by boAtheads over the years. It is a moment of pride for all Indians as it validates the growing acceptance of home-grown brands globally. With the support of our Govt. we will aim to become a global lifestyle brand. We at boAt understand the requirement of millennials and will continue doing what we do the best to serve the community of boAtheads. "
boAt has built a community of over 3 million boAtheads online (consumers) who want to be seen listening and wearing their boAt accessories to make a lifestyle statement.
boAt has yet again taken a step towards providing the best experience to its users. The parent company of boAt, Imagine Marketing Pvt Ltd, has signed a definitive agreement to acquire Singapore based KaHa Pte Ltd, an end-to-end smart IoT product development company. KaHa has experience in building IoT devices and offers a technology-focused platform for wearables with proprietary AI and machine learning capabilities, as well as end-to-end smart wearable solutions. Not only this, KaHa has received the prestigious Clarivate award for Innovation for two consecutive years, 2020 and 2021.
boAt, within one year of launching wearables, has become one of the leading brands in this sector. It counts in the top 2 players in the smartwatch category.
We are excited to witness what happens when a brand, solely dedicated to youth and catering to their trending demand for brilliant products, and a brand which has mastered in development and building smart IoT products work together! This is going to be an enriching and life changing experience.
This Delhi-based startup forced the likes of JBL to cut prices in India. And now it's on the road to become a Rs 500-crore consumer electronics company by 2024.
boAt began life as a consumer electronics startup in 2016 with the sole aim of bringing affordable, durable, and more importantly, €˜fashionable €™ audio products and accessories to millennials. Today, having completed two years of selling earphones, headphones, speakers, travel chargers and premium rugged cables, it has clocked more than Rs 100 crore in domestic sales alone. From just two founders, it has grown to a 25-member team, opened offices in Delhi and Mumbai, signed up celebrity brand ambassadors, and created a community of over 800,000 €˜boAtheads €™.
Now, what are €˜boatheads €™? Urban Dictionary says the term was an insult used to describe members of Singapore €™s notorious gaming clan - The Merry Boat Heads. But India €™s boAt seems to have turned that reference on its €˜head €™ by making it sound like an aspirational term for its millennial buyers. So, anyone who owns a boAt product is anointed a €˜boAthead €™ and made a part of the clan.
And going by the sales numbers, there are many.
Aman Gupta (left) and Sameer Mehta, Co-Founders, boAt
According to filings with the Registrar of Companies (RoC), boAt €™s FY2018 revenues grew to Rs 108 crore from only Rs 27 crore in FY2017. That is 3x growth year on year. The young consumer electronics player claims that it now sells over 6,000 units per day with four units sold every minute. It also adds one boAthead to its family every three minutes. boAt is now projecting sales of Rs 500 crore over the next five years.
The latest addition to its portfolio has been soundbars, a category it reckons will €˜explode €™ in the time to come, with the growing number of savvy home audio consumers in India who want a quality entertainment experience from the confines of their living rooms.
So, how did a homegrown consumer electronics brand carve out its own place in a cluttered market? So much so that, according to its founders, global majors like JBL has had to resort to a €˜downward revision €™ of its product prices in India to compete with boAt in the affordable audio segment.
Not just consumer electronics but lifestyle accessories
boAt Co-founder and CEO Aman Gupta tells YourStory,
€œWe 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. €
This strategy was on display at the recent LakmÃ© Fashion Week in Mumbai where boAt products were the only accessories sported by the models when they walked down the ramp for one of the designers. More such fashion partnerships are in the offing, reveals Aman.
He says that style has always been integral to the consumer electronics company's offerings, and he sees it as one of the brand €™s top three features along with sound quality and durability.
The company reckons that consumer acceptance has grown with audiophiles more willing to trust boAt products now. This is reflected in the 50 percent growth in its average ticket size. €œIt has gone up from Rs 500 to Rs 750. I believe there is a greater willingness to invest, € Aman states.
Some products are runaway hits. Sports earphones and Bluetooth speakers, for instance, have caught the fancy of India €™s increasingly fitness-focussed millennials. Consumers today pick and choose accessories that fit in with their workouts, runs, hikes, trails, etc., where one needs to filter out a lot of ambient sounds.
A verified user on Amazon.in, who purchased the boAt Stone 200 Portable Bluetooth Speakers, wrote: €œI bought it for hiking and it served the purpose, went all out for 12 hours backup as promised, in snow, rain and dirt on my bike to Ladakh. This is a sturdy little beast with great loud sound quality clearly distinguishable on a bullet. €
Offline growth and celeb word-of-mouth
boAt €™s growth has also been driven by its distribution partnerships. Besides selling on Amazon, Flipkart, Myntra and Jabong, the consumer electronics company is now retailing at Croma outlets, and testing shop-in-shop concepts to give potential buyers an €˜immersive experience €™ of its products. Offline now accounts for 20 percent of its sales, and the company is exploring more distributor tie-ups in South India. €œWe also plan to start selling on our own website by 2020, € states Aman.
While boAt €™s core audience in the first two years has largely been in the metros, it has identified a sizeable audience in tier-II cities as well. Aman says the consumer electronics company enjoys close to 95 percent brand awareness in these locations as a result of €˜positive word-of-mouth €™.
He says, €œWe operate under the FMCG category. Our products have consistently performed well due to the importance on quality and marketing. Our competitive advantage lies in our focus on consumer needs, desires and behaviour patterns. € Much of the buzz boAt has picked up can be attributed to its brand ambassadors who represent India €™s most followed passions (and obsessions) - Bollywood and cricket. Even though two of its brand ambassadors, cricketers Hardik Pandya and KL Rahul, were involved in a recent controversy, Aman believes celebrity word-of-mouth has helped widen the company €™s reach considerably.
€œJacqueline Fernandez [Bollywood actor] is one of our endorsers. Whenever she does a post for us, it gets millions of likes because she has that wide base of followers across the country. It helps us solve the challenge of creating brand awareness in smaller cities. €
New products, newer territories
Last May, boAt raised its first round of funding (Rs 6 crore) from Fireside Ventures, an early-stage VC firm that backs consumer brands. These funds will be deployed in building newer products and expanding the customer base.
Kanwaljit Singh, Managing Partner, Fireside Ventures, says,
€œ(boAt) is one of the strongest brands in our portfolio. We strongly believe that it has all the right mix to scale and become a household brand in the coming years. €
While there is a lot of ground left to cover in India itself, especially in non-urban areas, it plans to expand internationally in a few years. After all, quality products at €˜logical price points €™ can be a top draw anywhere in the world.
Explains Co-founder Sameer Mehta,
€œWe want to strengthen our foothold in India first and then enter the international market. Our efficient and lean business model, coupled with targeted business insights, allows the brand to enjoy high margins and double-digit profits from the very first sale itself. €
At present, boAt products are made through contract manufacturing in China. If it starts manufacturing in India, it can do away with import duties, and pass on the cost advantages to the customer. The founders, however, didn €™t reveal any make-in-India plans.
Future growth drivers
boAt believes that the rising trend of audio sets bundled with smartphones could be its next channel of growth. Almost all major phone makers have or are in the process of stitching partnerships with audio companies. Samsung has Harman and JBL, Apple has Beats, Huawei has Sennheiser, and so on.
These manufacturers are pulling in new customers with attractive bundled offers that spare people from having to invest in headphones or earphones separately.
€œThat is where the market is moving, € Aman points out.
According to a Future Market Insights report, India €™s mobile phone accessories market is estimated to exceed $3.5 billion by 2026. boAt reckons that the massive growth in online video consumption will be a significant driver of demand in the near future, attracting a diverse set of customers.
Subsequently, the burgeoning market has given birth to competition too.
boAt has to contend with not only audio accessories makers, but also phone manufacturers like Xiaomi, Realme, and others, who have expanded their range of affordable earphones, wireless earbuds, and portable speakers in a bid to make India buy more, and more frequently.
€œWe have to keep innovating as a brand. That is why customers prefer us, € says Aman, adding, €œWe have fulfilled only 20 percent of the demand. The market is huge, and we have to get our team and finances right to serve it. €
Why name an electronic accessories brand boAt? The 36-year-old co-founder Aman Gupta points to the brand's tagline, ˜plug into nirvana, placed in large letters on a wall of the young start-up's Hauz Khas office in Delhi. When you take a boat, you leave everything behind. You plug into a new zone, he says.
Philosophical meaning apart, the brand has literally plugged into a new zone. Started in 2016, it retails in products such as chargers, Bluetooth speakers and earphones, has already crossed an impressive 1 billion sales in its third year.
It is an impressive show and was done with little outside support. The founders hardly raised any money in the first two years. The only funding round was in May 2018, from Kanwaljit Singh of Fireside Ventures, who invested 60 million in the brand. I was impressed by their ability to spot a white space, the founder's experience, the product quality and right targeting, says Singh. His fund usually invests in early-stage consumer product companies. Gupta sounds assured, saying with a laugh, While others have burn rate, we have earn rate. boAt Lifestyle has remained Ebitda positive from its early days.
The business model is pretty straightforward. The products are designed keeping Indian customer's particular needs in mind, manufactured in China, marketed over social networks and sold mostly over e-commerce platforms. It seems like an obvious winning bet, but that's not what everyone told him at first.
It is a cluttered space. This is a hypercompetitive market with global and Chinese players. These were the arguments against his idea, when he first sounded it. But, hardly three years later, boAt seems to have survived the killer waves.
Gupta is familiar with the electronics trade. His family has a business running in it, where he worked for three years (2007-2010). This was after completing his chartered accountancy and working in Citibank between 2003 and 2006. In 2010, he enrolled for an MBA at the Indian School of Business (ISB), from where he was placed at KPMG, the auditing firm. It was a brief, six-month stint. I was fascinated by gadgets and electronics, so I contacted JBL by Harman and expressed a wish to work for them, he says.
JBL signed him on. During his two-year stint, Gupta managed the start-up's offline distribution through stores such as Croma and Reliance Digital. A little later, he also got into product management. His job was to identify the right products for the Indian market, and the lessons learnt here came in handy during product development at boAt.
Gupta says he was exposed to the changing trends in the audio space, in India and other geographies. He also discovered that, globally, consumers were willing to look beyond legacy brands. They were ready to give new brands a try.
boAt was first imagined in 2014 and finally launched in 2016. The two years were spent on research and zeroing in on the right products. The two founders, Gupta and Sameer Mehta, each put in 1.5 million from their personal savings to start the company. We did a lot of use-case analysis, says Mehta. Our research showed that buyers were looking for tangle-free ear phones at a reasonable price and a longer cable. They were also bored with plastic microphones. So we launched long cables, which were tangle free, and metal earphones. We also made our product very EDM (electronic dance music) focused because the Indian customer likes a punchy sound experience.
One of the initial challenges was convincing contract manufacturers in China to produce small volumes, while the boAt team designed the product and the packaging. Gupta recalls urging them: Please support us now, we will order more later. They were then shipped to the Indian company ” where only a minimum inventory was maintained ” from where Amazon picked up packages for distribution. Between 2014 and 2016, company worked as a distribiutor of global audio brand, House of Marley (that is, before formally launching boAt in 2016).
It was done to generate some cash and gain more experience in this market.
When boAt was finally launched, its first product was an indestructible Apple charging-cable and charger. The Apple cable used to break near the charging end (near the connectors). People used to make do, by taping over it. So we launched a tough, braided cable, with a life cycle of 10,000 bends, says Mehta. boAt priced it at par with the Apple cable at 1,500. The product was a quick hit and it continues to be the number one selling cable on Amazon.
The second product they brought was an audio range, which included earphones. I spent a lot of time in China, sitting in the factories to get the product right, says Gupta. The critical insight on consumer, which helped in differentiating their design is that Indians love bass. Around 90% of Indians still love loud bass. It is in our culture, such as tabla and dhol. That is why our products were tuned to Indian preferences . Their first earphones were called €” BassHeads. The organised earphones market is estimated to be between 30 billion to 40 billion, and it is growing at 20-30% annually. In 2018, boAt launched speakers and, in 2019, soundbars and home-audio systems. The soundbar is priced at 9,000 and it sells 30 to 40 units a day; its sales is expected to hit 200 million to 300 million this year.
The start-up made a conscious decision not to play the pricing war. A price race is a race to the bottom. Chinese brands will finish you, says Mehta. They decided to place themselves in the middle, closer towards the higher price range. He adds, We are like the Zara of electronics. We are not highly priced, like some luxury brands, and neither low priced, like Chinese electronics.
Next they needed a marketing blitz, but sadly did not have the money to do that in the first year. The founding duo decided to work it to their advantage, and communicate directly with the consumers and about their immediate pain point. boAt's first-ever Facebook ad showed a broken-at-an-end Apple cable and read: Tired of buying charging cable? Switch to boAt's indestructible charging cable. To add to the appeal, the boAt cable was Apple-certified and came with two year's warranty. The communication clicked with the buyers online.
This direct line with the consumer can cut both ways. As an online brand, your products are constantly subjected to reviews. The quality is extremely critical in this case. Millenials are ready to give you a try, but they are also the first ones to write you off if you can't deliver, says Gupta. The founders leveraged the prompt online product feedback to tweak and even design new products. We would do a lot of data mining of our product reviews and competitor reviews to understand what is it that the consumer was looking for, says Gupta.
Some of the key insights over past three years have been that people are increasingly looking for sports and fall-proof headphones, and that boAt's products were getting boring. The start-up, therefore, launched fall-proof headphones and introduced interesting colours for their products.
Pankaj Mirchandani, managing partner at Rythm Corner Alaknanda (RCA), a marketer and distributor of electronics in India, says, What has worked for boAt is the community of fans they have built online, which is quite commendable. There is now an online community of boAtheads with around 80,000 members at present.
boAt raked in 110 million and 270 million in the first and second year respectively. Whatever was earned was ploughed back into the company. The start-up today sells 6,000 to 8,000 units a day, with audio's share at 90%, cable and chargers at 10%.
The brand has so far remained online centric but the company is taking offline seriously now. Gupta says the offline success of online-only brands such as Xiaomi shows that millenials are still buying offline. We have hired a team now, only to manage offline sales. Croma sales are picking up for us now, says Gupta. According to him, while offline and online commissions are similar and in the range of 30-40%, there are added costs involved in online distribution. The spending on shipping and marketing increases the cost, which you don't have to incur if you are selling offline, he says. Offline currently contributes about 15%, and Gupta feels it would contribute 25% in two to three years.
Mirchandani does not see a smooth ride offline. When a predominantly online brand decides to add offline, it faces resistance from the retailers due to price hygiene. Also, in offline channel, the proposition is not only about price. It is also about the product-build quality, packaging, customer service and retail marketing. It is definitely a lot more expensive to sustain offline, he says.
Having earned enough cash, Gupta decided to do more aggressive marketing last year. The start-up leveraged India's love for music, cricket, and Bollywood. We have tried to create a connect with all three, through our influencers, he says. The start-up has been running campaigns with Bollywood actor Kartik Aaryan, cricketer Hardik Pandya and Punjabi singer Guru Randhawa. I have not spent a rupee on Google (ads) and TV. So while there is no direct ROI metrics for influencer marketing, it greatly helps us spread the word, says Gupta.
The brand has stayed away from conventional media such as TV and print. Their campaigns have mostly run on Facebook and other social media networks. Millenials are mostly online, reasons Gupta. boAt has recently experimented with marketing through fashion. The last round of LakmÃ© India Fashion Week saw models walk the ramp with boAt eargear. We don't sell our products as gadgets but lifestyle accessories, he explains.
But lifestyle electronics itself is changing fast. Mirchandani lists the tech shifts which are underway: AI voice assistant-enabled devices, smart-home devices, IoT and twin wireless-earphones. Gupta agrees and adds, If we don't keep moving with technology, we will be dead. He is already working on the next trend to stay ahead of changing technology. Voice is becoming big. Maybe next year everything you buy will be voice. We have just launched our first Alexa voice-enabled speaker, he says.
On the sales front, Gupta's next target is to become a 5-billion brand in three years time. The start-up will expand it's team to 40-50 people, from 35, this year.
The founder's confidence comes from something unusual. Five out of 10 people we meet have still not heard about boAt. That is a large pool of customers for us to reach, says Mehta.
Luckily for them, the investors are going to be patient with the start-up. They have sustained the growth momentum and we are in no hurry to exit, says Singh. Seemingly, this boAt has set sail for distant horizons.
boAt roped in singer and actor Diljit Dosanjh as one of their new brand ambassadors. They aim to add a €˜desi vibe €™ to their brand with this new addition to their tribe.
Diljit Dosanjh spoke about the collaboration, €œPunjabi music and folklore are bass-heavy and boAt €™s high quality yet trendy products allows one to have great sound experience. In boAt, I have a new partner, which is truly Indian, and resonates with my personality."
Aman Gupta, co-founder, boAt Lifestyle, said, €œDiljit has a simple yet high spirited and lively personality. From his zany outfits to his chunky shoes to his impromptu comedy while conversing with electronic devices is what is admired by millions of millennials and Generation Z followers. Keeping the same in mind, we knew he is the perfect fit as a boAthead. €
We €™re looking forward to the quirky things Diljit brings to the gang!
boAt and Dixon Technologies announced a joint venture to boost manufacturing of boAt €™s wireless audio products in India.
Both the companies will come together in a 50-50 joint venture to co-invest in the evolving Indian mobile accessory market, thereby paving the way towards €œMake in India € in this category. boAt €™s understanding of the audio industry combined with Dixon €™s manufacturing capabilities will facilitate a vibrant platform for electronic accessories design and manufacturing in India.
€œWe are pleased to commence this joint venture with Dixon that will enable us to deliver high-quality products at affordable prices. Combining the capabilities of boAt and Dixon, in the electronic manufacturing services (EMS) space, we aim to build a strong manufacturing base and ecosystem in India. €, said Sameer Mehta, Co-Founder and Chief Product Officer at boAt.
The joint venture is an important milestone in boAt €™s journey to establish a manufacturing base in India. The products currently under boAt €™s €œMake in India € initiative are Bassheads 100, Bassheads 152, Bassheads 225, Rockerz 255 Pro, Rockerz 235v2, Airdopes 101, Airdopes 381, Airdopes 441, power banks, charging cables and power bricks.
€œThe BoAt Airdopes 201 are rated IPX4 for water-resistance and feature capacitive touch controls to let you answer calls and change tracks €
BoAt Airdopes 201 portable True Wireless earbuds has been launched in India. These are claimed to offer premium HD sound with clear stereo as well as feature a sleek and lightweight design. The earbuds connect to a smartphone via Bluetooth 5.0 and the 470mAh charging case is claimed to offer 9 hours of play-time while each earbud lasts for 3 hours on a single charge. The capacitive touch controls let you answer calls and change tracks. The BoAt Airdopes 201 are rated IPX4 for sweat- and water-resistance.
The BoAt Airdopes 201 portable truly wireless earbuds support both mono and stereo calling. They measure 2.4 x 2.2 x 1.8 cm and weigh 9.07 grams. The earbuds are compatible with iOS, Android, laptops, music player and other Bluetooth compatible devices. The BoAt Airdopes 201 earbuds are priced at Rs 2,499, but the same is up for grabs at Rs 2,299 on boAt. The company is also offering a one year warranty on the earbuds.
Raymond Li, Product Head €“ boAt, said, €œboAt Airdopes 201 portable True Wireless Earbuds offers Technology, Style and Convenience €“ all in one design. The Airdopes 201 keep you moving with your favourite tunes slipping into the serenity of Nirvana. The product is for those who want superior sound and connectivity from truly wireless earbuds for everyday use €“ with rock-solid connectivity and high battery life. €
boAt has roped in Bollywood's vocalist Neha Kakkar for their €˜Soul of the Musicians €™ campaign with an aim to strengthen the brand appeal among the musicophiles. The company will roll out a 360-degree advertising campaign featuring the new brand captain across print and digital platforms. Neha Kakkar will also be seen as the celebrity face on the packaging of select boAt products. Last year, boAt had also roped in Punjabi singer Guru Randhawa for the €˜Soul of the Musicians €™ campaign.
€œMusic is the soul of our brand, € Aman Gupta, co-founder, boAt said. He further stated that €œNeha Kakkar has the same passion as we have and represents our core belief in providing a great sound experience. €
SPOTT Awards- Honouring Excellence in Video & Audio content
Shark Awards- Rewarding Excellence in Marketing Across Industries
For Neha Kakkar, the brand has modern design which goes hand-in-hand with quality. €œThe millennial audio brand is known for its tech quality and design, € she added.
Neha is the latest one to join the star studded roster of the brand which already includes the likes of Bollywood actors Jacqueline Fernandez, Kartik Aaryan, Kiara Advani, and singer Guru Randhawa, cricketers Hardik Pandya, K. L. Rahul, Shikhar Dhawan, Jasprit Bumrah, Rishabh Pant and Prithvi Shaw.
In a sector dominated by established global brands, boAt has ramped up quickly in a short span of three years, through its core high-quality audio product line of smart, efficient, stylish and durable €˜hearables €™. The brand has already registered Rs 100 crores in FY'18 as gross sales and is eyeing INR 500 crores in the next few years. With a strong focus on consumer desires and aesthetics, the brand has created products that seamlessly integrate into the evolved consumer €™s personal style statement.
boAt products are available both online (Amazon, Flipkart, Myntra, Snapdeal, etc.) and offline (Croma retail, Vijay Sales, Poorvika Mobiles, etc.)
Having completed two years selling earphones, headphones, speakers, travel chargers and premium rugged cables, it has clocked more than Rs 100 crore in domestic sales alone
Boat Lifestyle began life as a consumer electronics startup in 2016 with the sole aim of bringing affordable, durable, and more importantly, €˜fashionable €™ audio products and accessories to millennials. Having completed two years selling earphones, headphones, speakers, travel chargers and premium rugged cables, it has clocked more than Rs 100 crore in domestic sales alone. From just two founders, it has grown to a 32-member team, opened offices in Delhi and Mumbai, signed up celebrity brand ambassadors, and created a community of over 800,000 €˜boAtheads €™. Aman Gupta, Co-founder, boAt Lifestyle has been chosen as the winner of the BW Businessworld Young Entrepreneur Award 2019. Gupta talks about his startup in a chat with BW Businessworld.
The idea behind the startup
BoAt entered the market with its sturdy cables that solved the perennial issue of breaking of mobile charger cables with the use of Kevlar fibre to extend the life of boAt €™s connector cables. BoAt today offers products such as earphones, headphones, soundbars, speakers, travel chargers and premium rugged cables. They have created a consumer tech lifestyle brand that addresses issues most commonly faced by the millennials and Generation Z through solutions that offer the best in technology and style, with a keen focus on product design.
In terms of targets set, boAt recently logged Rs 108 crore in FY 2018 in gross sales, grew at almost 300 per cent over FY 2017 and is aiming to achieve Rs 500 crore in sales in the next five years.
BoAt €™s philosophy has always been to create experiences and not products. As a brand, boAt doesn €™t create products and tell the consumer how to fit them in their life. Instead, it listens to the target audience and connects with their needs to create products that enhances their lifestyle. What differentiates boAt is that it is an aspirational yet affordable brand for enthusiasts who expect the latest available technology but also seek style and affordability.
It is high on style and fashion and elevates audio and mobile accessories from commodities to fashion statements that attract immediate attention and serve as conversation starters. With an in-depth understanding of the Indian market and the consumer, we know that the consumer electronics space in India lacks products design while keeping Indian use cases in mind. Given factors such as dust and heat, tropical weather, etc. there is a huge gap in the market for products designed to be more durable and resistant to these factors while also appealing to the Indian consumer €™s aesthetic sensibilities. BoAt €™s products try to address this gap through a strong focus on product design. For instance, the use of Kevlar fiber to considerably extend the lifespan of its connector cables.
The brand offers a lot more than just functional benefits and this allows boAt to be viewed as the first Indian lifestyle brand in the sound and audio space €” the growing boAt community is a testament to the same.
BoAt has an agile business model with a steadfast focus on consumer needs, desires and behaviour patterns with a competitive advantage in its ability to listen and adapt in real time to offer consumers what they desire. Most importantly, the brand constantly innovates and expands its portfolio to offer technology solutions that are aligned with the changing consumer desires and consumption patterns.
We have a two-pronged approach in terms of customer acquisition. The first is to make the discerning consumer aware of a better way of consuming sound to create the category of €˜hearables €™ and second, to continue to grow this category by converting the traditional user to a boAt way of life purely on the strength of the product and the user experience.
BoAt is present in both brick and mortar as well as online stores like Amazon, Flipkart etc. and are now expanding offline presence too.
Bose, JBL, Sennheiser are our key competitors but we are confident as we are always connected to our loyal community and constantly listening to their needs and desires to offer consumer focussed product innovations. We are committed to deliver superior experience through the life of the product with truly hassle-free consumer service.
The way forward
As more and more people join the smartphone club the need to differentiate and stand out increases. That €™s the market that we hope to capture with our lifestyle focussed products. We are also actively looking at home audio space and grow our product portfolio.
As long as we mine our data, listen to our consumers and innovate to bring unique offerings from the stable we will be relevant.
While we continue to receive interest from across the globe, we wish to strengthen our foothold in India by aiming to become a household brand, before sailing in international waters.
BoAt audio accessories have started becoming lifestyle accessories and part of one €™s fashion statement.
The paradigm shift
The mobile accessories market is growing at a healthy pace and is expected to grow at 8 per cent by 2020 to reach a size of Rs 117 billion. With smartphone penetration at an all-time high and the market size expected to reach a staggering Rs 1,768 billion by 2020, our growth story is just in its nascent stage. As more and more people join the smartphone club the need to differentiate and stand out increases. That €™s the market that we hope to capture with our lifestyle focussed products.
Technology is changing constantly as we speak. BoAt recently launched its Alexa-powered water-, shock- and dust-resistant smart speaker with top-notch sound quality.
Idea of wealth generation
BoAt €™s financial performance has been strong. We are EBITDA positive, recorded Rs 108 crore in FY18 in gross sales; grew at almost 300 per cent over FY17. Also, we are projecting Rs 500 crore in sales in the next five years. We raised Rs 6 crore from Fireside Ventures in May 2018.
Every three minutes there is a new boAthead (consumer) being added to the family. The brand sells over 6,000 units per day and on an average four units every minute.
One of the heartening moments was to see the brand as the top three bestselling products on Amazon.in, but to be honest, we don €™t think we have made it big. Simply because every single day we wake up worried as to what should be done to ensure that the brand promise and the USP of boAt does not sink to competition and that we keep our boAtheads (consumers) along with us as we grow. This journey has just started!
Personally, I aspire to be the CEO of a billion-dollar company 10 years down the line.
Message to entrepreneurs
- Hustle €” challenge yourself to do anything and everything
- Be frugal
- Keep an eye on the balance sheet
- Surround yourself with a group of people with diverse viewpoints and experiences
- And have a work-life balance.
Even as the global smartphone market sees slow growth and stagnating shipment numbers, wearable gadgets are bucking the trends. Whether it's ear-worn products with some smart capabilities, wristbands, or smartwatches, the segment has been defying typical global trends in the gadgets and consumer electronics space. The wearables segment is growing at record pace in India, with 14.9 million units shipped in 2019 across various categories in the segment, according to a new report by research and analytics firm IDC India.
According to IDC India's estimates for its Worldwide Quarterly Wearable Device Tracker, about 14.9 million wearable gadgets were shipped in India in 2019. These devices include ear-worn devices, wristbands, and watches. Earwear - defined by IDC as a device offering functionality beyond audio, such as smart assistance, fitness tracking, or audio experience enhancements - led the way in the wearables space with 8.5 million shipments (57 percent of the segment). Wristbands such as fitness trackers had a market share of 35.3 percent, while smartwatches accounted for 6.3 percent of the total shipments.
While the overall market grew at 168 percent year-on-year, the ear-worn gadgets segment grew much faster at 443 percent year-on-year. This can be credited to the fact that many wireless earphones today come with some smart functionality; these devices usually feature easy access to voice assistants such as Google Assistant, Siri, and Alexa. Boat Lifestyle, a popular audio brand in India, was the leading brand in the earwear category, with 27.3 percent market share.
Narrowing down to the popular true wireless earphones segment specifically, the report states that the Apple AirPods range led the space with a market share of 43.1 percent. Wrist bands saw healthy year-on-year growth of 52.6 percent, but are no longer the leading product type thanks to the massive growth of ear-worn gadgets. Xiaomi was the leader in the wristband space, with Titan's fledgling range of products coming in second.
About 933,000 smartwatches were shipped in India in 2019, with Fossil and Apple leading the way. The Fossil group markets smartwatches under its various brands, including Fossil, Diesel, and Skagen. Although expensive, the Apple Watch range was popular in India as well.
boAt launched their new range of audio products - Stone 170 Portable Bluetooth Speakers, Airdopes 311V2 and SpinX Portable Wireless Speaker at the recently concluded LakmÃ© Fashion Week. The newly launched product range is targeted at Gen Z - the first generation of true digital natives.
With a strong focus on consumer desires and aesthetics, the brand has developed these products that seamlessly integrate into an evolved consumer €™s style statement. Breaking the norm, the models at LFW were seen sporting boAt accessories as a way to Relax and Rewind after Work.
Excited on the launch, Aman Gupta, Co-Founder boAt said, €œLakmÃ© Fashion Week is one of the biggest fashion events in the country and as a lifestyle brand it becomes an ideal platform for us to partner and launch our new range of audio products. The launched products are high on tech, fashion, style, and performance making it refreshing, inspiring and completely in sync with the millennial and Gen Z today. €
In a sector dominated by established global brands, boAt has ramped up quickly in a short span of three years, through its core high-quality audio product line of smart, efficient, stylish and durable €˜hearables €™. It has already created a community of over 2 million boAtheads (consumers) who want to be seen listening and wearing their boAt accessories to make a lifestyle statement.
In the past boAt had partnered with famed designers including Kunal Rawal and Urvashi Kaur to launch limited edition audio accessories at the LakmÃ© Fashion Week.
boAt Stone SpinX 2.0 portable Wireless Speaker with Extra basss
The Stone SpinX 2.0 is style personified with its ergonomic yet rugged tube design. Featuring IPX 6 Water resistance, and made from ABS and Fabric Grill; spin out on a journey with the mount screw making the SpinX 2.0 making the SpinX the perfect companion for long cycling trips! Get the vibes started with Bluetooth version 4.2 and witness fine-tuned audio Nirvana. It €™s time to break out the fun, with the new core integration that makes up the new and improved SpinX 2.0! With 40mm Drivers that carry clear HD immersive audio and a resonating bass that gets your blood pumping, tune in to good times. Simultaneously connect to two SpinX €™s with the True Wireless Feature to enhance the sound experience and get the party revolution started! Keep the vibes lit with up to 8 hours of playtime being generated by the 2200mAh Lithium Battery. Adventure, Experiment, Explore with the boAt Stone SpinX 2.0!
boAt Airdopes 311V2
Product Description: Tune into Nirvana with boAt Airdopes 311V2 Twin Wireless earbuds Lakme Fashion Week Edition to enjoy your music in a truly wireless way with style. The TWS Airdopes 311V2 come equipped with 8mm rhythmic dynamic drivers for immersive sound. The latest Bluetooth v5.0 offers seamless instant connectivity. Indulge in blissful audio experience for up to 3.5 hours per charge, which is facilitated by the powerful 500mAh capacity of the carry case. The case in itself offers up to 4 times the charge. The earbuds offer the feature of stereo calling for seamless hands-free experience. It is IPX5 rated to offer resistance against sweat and water scares. The ergonomically designed TWS Airdopes 311V2 are truly dope!
boAt Stone 170
The game of portability just got a boost with the boAt Stone 170, flip your scene anywhere anytime with the full 5W €™s of power. A compact, lightweight and IPX 6 Water Resistant design makes it the perfect companion for a number of sceneries. Stay prepared with the boAt Stone 170. It is packed with an 1800mAh Battery, with a push of up to 6 hours of play time per listening session. So set the mood and accentuate the vibe with the boAt Stone 170. Pick your method of access with Wireless Bluetooth V4.2 and a SD card slot making it perfect for all situations. Extremely simple to navigate, utilize the integrated controls to access a wide range of functions. This includes True Wireless Function, meaning that you can set up two at the same time. Whatever your journey, make sure that you party away with the powerful portability of the boAt Stone 170. The sound is on its way.
Starting off 2021 on a high note, we're elated to announce that boAt has raised approximately $100 million from an affiliate of Warburg Pincus, a leading global private equity fund focused on growth investing.
We welcome Warburg Pincus as a new investor into the company. This is a vote of confidence for our business model and growth prospects. The investment is great news for not only the company but for the entire D2C sector. The investment has come at the right time as we make efforts to ramp up our manufacturing and global supply chain", says Aman, co-founder, boAt.
As a digitally native brand in India, boAt has consistently been breaking barriers in a sector traditionally dominated by established global brands, placing India on the global map. In addition to solidifying its position in the Indian market as the #1 player, boAt has also emerged as the 5th largest wearable brand globally, according to IDC data.
Vishal Mahadevia, Managing Director and Head, Warburg Pincus India, said:
We see a compelling growth story in boAt and believe the company is well-poised to build upon the strong leadership position it has carved out within the industry and stands to benefit from the secular tailwinds of e-commerce growth in India. Warburg Pincus is excited to partner with the management team of boAt led by Aman & Sameer in this journey and we look forward to supporting them through the next phase of the company €™s growth. €
The investment by Warburg Pincus will enable the company to further fortify its leading market position, widen its R&D capabilities and product portfolio, and build on boAt €™s efforts to create and support a manufacturing ecosystem under the Make-in-India initiative. Avendus Capital acted as the exclusive financial advisor to Boat and its shareholders on the transaction, enabling the manufacture of products in India.
As boAt enters the next phase of growth and innovation, we look forward to benefitting from Warburg €™s pedigree, collective experience and resources in helping us scale. Going forward, with the Government €™s support, we will focus on building capabilities in domestic R&D and undertake vertical integration across both the hearable and wearable space to establish India as a global supplier. €, says Sameer Mehta, Co-Founder, boAt.
There is a long road ahead and we're looking forward to see where this growth journey takes us!
Home-grown audio & accessories brand boAt launches a series of ˜Make in India" wired and wireless earphones as well as mobile accessories.
Staying true to its commitment, boAt has started its Make in India journey with its top sellers such as Bassheads 100, Bassheads 152 and Rockerz 255 Pro. These products will now be manufactured locally and will be available on the website as well as other ecommerce platforms starting 27th January 2021.
On the launch, Aman Gupta, Co-Founder, boAt said, Being market leaders, boAt to lead from the front. It's a moment of pride for us to announce the products that are in line with the Honourable Prime Minister's Make in India vision of Atmanirbhar Bharat. It's a testament to our commitment to build an ecosystem in India. In the coming months, many more boAt products will be manufactured and launched in India.
boAt carries the spirit of India and is now in the top 5 wearables globally as per IDC. The company is also the #1 brand in personal audio in India (headphones, earphones, sound-related accessories) with a rapidly emerging presence in adjacent consumer-focused, lifestyle electronics categories.
boAt plans on launching many more products in 2021. This includes launching headphones, speakers and true wireless earphones under their "Make in India" initiative.
boAt, a popular manufacturer of consumer audio products, has launched a new pair of truly wireless earbuds called the Airdopes 511V2. It features their Insta Wake n Pair (IWP) technology, quad microphones, Bluetooth 5.0, IPX4 certification and more.
They connect via Bluetooth v5.0, promising seamless, solid connectivity. Powering the Airdopes 511V2 are 6mm rhythmic dynamic drivers that offer immersive sound. The highlight feature of these wireless earbuds is their IWP (Instant Wake N €™ Pair) technology. With it, the earbuds can turn on and connect to the last connected device as soon as the carry case is opened.
It features quad microphones for a superior calling experience and it is also IPX4 certified, making it ideal for workouts. Controls are taken care of by the multi-function button present on each earbud, including playback, volume and voice assistant support. For battery life, boAt claims 6 hours of continuous playback with a total of 24 hours with the 500mAh charging case.
The boAt Airdopes 511V2 are available in Active black color for a price of Rs. 2999 on boAt.
Commenting on the launch, Aman Gupta, Co-founder on the launch said: boAt Airdopes 511V2 portable True Wireless Earbuds are the perfect amalgamation of design, sound and technology. The product is for those who want superior sound and connectivity from truly wireless earbuds for everyday use €“ with rock solid connectivity and high battery life.
Sailing through the pandemic, boAt ranked No. 1 as India's top choice in the True Wireless (TWS) earphones category as per the latest report by Counterpoint Research (Q3 CY2020).
Capturing 18.3% market share (in terms of volume) in the TWS Category (Q3, CY2020), boAt overtook brands like Xiaomi, Realme, JBL, Apple amongst others to rise to the top, according to the research firm - Counterpoint Research.
Congratulating boAt, Shilpi Jain, Analyst at Counterpoint Research said, "Home-grown brand boAt rose to the number one position in India €™s TWS market in Q3 2020. Aggressive marketing backed with strong product line-up at affordable prices worked in its favor.
Its Airdopes 441 model became the second best-selling model in Q3 2020 with its features like water resistance and up to 25 hours battery life coming at an affordable price point".
Aman Gupta, co-founder of boAt, said on this rise, €œBeing an Indian brand boAt understood the requirement of its TG i.e. the millennials who cannot be influenced through traditional marketing strategies but through quality experience.
The Counterpoint report is a result of our commitment towards boAtHeads to provide them a product that isn't just fashionable and aspirational but affordable.
With an aim to become a global lifestyle brand, this is a step ahead to innovate and expand our portfolio to offer technology solutions that are aligned with the changing consumer desires and consumption patterns."
Breaking all records, boAt Lifestyle saw a 385% growth as compared to Q2 CY2020 in TWS category, with a 20% surge in demand for its products in COVID times.
This is definitely a testament to the exciting times ahead for home-grown brand boAt.
boAt raises funding from Qualcomm Ventures, the investment arm of Qualcomm Incorporated and an industry leader in wireless technologies. The investment will support the brand's journey to rollout the next-generation audio & lifestyle products across geographies.
boAt, the #1 audio wear brand in India, continues to achieve rapid revenue growth - 100%+ over the past several years. In the past year, it has doubled its employee strength and has built a local R&D in Bangalore. The company has also expanded into newer categories like smart watches, besides launching over 20 new products in the audio category in FY21.
boAt is a recognized brand leader in audio, wearable, and consumer lifestyle products. Qualcomm Venture's investment in boAt is one of the many steps we are taking to reinforce India's twin missions of Atmanirbhar Bharat (a self-reliant India) and Make-in-India for the world, by enabling cutting edge technology innovation and R&D in India , said Rajen Vagadia, Vice President and President, Qualcomm India Private Limited.
Qualcomm is a world leader in wireless technologies and we have a shared vision of building world-class products for India and the world. As boAt enters the next phase of growth and innovation, we look forward to building a relationship with Qualcomm to deepen our R&D capabilities and further augment our efforts to manufacture products in India", says Sameer Mehta, Co-founder, boAt.
In January 2021, boAt had raised approximately $100 million from an affiliate of Warburg Pincus, a leading global private equity fund focused on growth investing.
boAt Lifestyle co-founder, Aman Gupta, talks about the journey of building a brand from scratch to a unique Indian brand, the growth it has observed and the further hurdles that lie due to Covid-19.
Speaking about the stiff competition in the industry, Aman Gupta says, That is why we focused on product quality and starting with small numbers. We started our business by launching indestructible charging cables in 2015, and realized that owning the IP in a brand is very important rather than just sourcing products from China, which a lot of other brands were doing at the time .
According to Aman, community feedback and reviews are pivotal for the growth of the company. It €™s why boAt has been able to constantly make changes and improvements to the products.
Speaking about what makes the brand enticing, Aman noted, €œWe listen to our community and we identified that our fans like sports and films. So, we created themes like €˜Sound of the Champions €™ and brought in the cricketers. We created €˜Glamour of the Stars €™ and brought in Kartik Aryan and Kiara Advani, and finally created €˜Soul of the Musicians €™ with stars such as Neha Kakkar, Diljit Dosanjh, and Naezy. We designed our earpods by customising them with Hardik Pandya. The brand is about the future and the trendiness of the future stars, €
With the pandemic slowing down the economy, Aman aims to reduce dependence on China and to promote €˜Make in India €™ as a long term solution. To that end, vocal for local has been a priority for the brand and its future plans.
COVID-19 taught us that we can be working closely with manufacturers in Vietnam, Malaysia, and Singapore, and reduce the dependence on China. Make in India is a long-term vision and it will happen. We will increase the Indian manufacturing bets in years to come. For now, the focus is to create an ecosystem, a community, and be a wearable and hearable company" says Aman.
With the company witnessing a 20 percent surge in demand for its products amidst the COVID-19 pandemic, Aman surmises that it is time for the government to recognize headphones earphones as €œessentials €.
Aman Gupta, co-founder, boAt, talks to Forbes about the journey of a homegrown consumer electronics upstart sailing through myriad storms to stand tall as the fifth largest wearable brand in the world.
Back in December 2016, boAt found itself in the middle of the Chinese storm led by Xaomi, Vivo, and Oppo, that was slowly causing major Indian handset players like Micromax to shrink.
€œIndians were getting out. Chinese were coming in, € he recounts. €œPeople started writing our obituary even before we were born, € Aman says.
Not discouraged, the co-founders bootstrapped ‚¹15 lakh each and kickstarted their boAt by selling mobile cables and chargers. The first year itself brought post sales of ‚¹31 crore, and a profit of ‚¹1.67 crore. In the next fiscal, the brand grew close to four times with the addition of wireless earwear and speakers.
Fast forward to December 2020, boAt has overtaken brands like Xiaomi, Realme, JBL, Apple amongst others to rise to the top, according to the research firm - Counterpoint Research. boAt has also become the fifth biggest wearable brand in the world in the third quarter this year.
We have disrupted the space, and we will continue doing that. Now I am looking for another high, another kick € Aman smiles.
Indian cricketer Shreyas Iyer has been roped in as the brand ambassador of leading homegrown consumer electronics company brand boAt for its campaign ''Sound of the Champions'', it was announced on Wednesday.
"Music is an integral part of my lifestyle. My choice of music helps me balance my thoughts, unnerve my anxiety at times before a crucial game or help me relax. What enhances the experience to enjoy your music is the selection of the right accessory. In boAt, I have a new partner," Shreyas, 25, said in a statement.
Shreyas, who has established himself as the backbone of India''s limited overs format batting line-up owing to consistent performances post last year''s World Cup, will begin a new innings targeted towards fitness and music enthusiasts.
"We are happy to be associated with one of the most promising batsmen of the Indian cricket team. Shreyas'' youthful persona and dynamism goes perfectly with our brand. He is a youth icon and we look forward to working with him," brand co-founder Aman Gupta said in a statement.
The brand has previously signed Indian cricketers including KL Rahul, Shikhar Dhawan, Jasprit Bumrah, Rishabh Pant, and Prithvi Shaw as brand ambassadors.
Facebook India on Thursday announced its collaboration with venture capital fund SAIF Partners, in a bid to strengthen its commitment to enable the growth of small and medium businesses (SMBs) and entrepreneurship in the country,
The partnership is a part of Facebook €™s VC Brand Incubator Program, which is an industry-first initiative launched in June for building the ecosystem for SMB growth in the country by providing young businesses with timely skilling and guidance. In five months, the VC Brand Incubator Program has tied up with three venture capital funds - Sauce.VC, Fireside Ventures, and now SAIF Partners. In partnership with these three VC funds, Facebook has skilled, trained, and mentored more than 70 brands at various stages of their growth journey.
Talking about the VC Brand Incubator Program, and the latest partnership with SAIF Partners Archana Vohra, Director, Small and Medium Businesses at Facebook India said: €œOur vast experience with SMBs tells us that strong digital skills and timely guidance can help them succeed and increase profits quickly. Facebook has consistently delivered business results for SMBs, and through the VC Brand Incubator Program and the latest partnership with SAIF Partners we €™ve deepened our commitment to the growth of small businesses and entrepreneurship in India. Businesses from across industries and at different stages of their growth journey have experienced measurable and positive business impact as a result of this program, and with SAIF Partners on board we now have an opportunity to deliver an even larger impact."
SAIF Partners is one of the leading venture capital funds in India. In the past it has been an early stage investor in brands such as MakeMyTrip, BookMyShow, Justdial.com, and Paytm.
Said Deepak Gaur, Managing Director, SAIF Partners: €œWe are thrilled to partner with Facebook to create a platform for young consumer companies to learn from the Facebook leadership as well as each other about the best practices and the playbook for scaling on Facebook €™s family of apps. We believe that programs like the VC Brand Incubator will go a long way in helping early stage consumer-focused companies avoid common mistakes, enabling them to create differentiated brand awareness on digital platforms in the most efficient manner."
Twenty-four brands associated with SAIF Partners have now become a part of Facebook €™s VC Brand Incubator Program. They are from diverse industries such as e-commerce, CPG, auto, education, and health among others, and include brands such as Chaayos, Spinny, Airblack, Peebuddy, Skoodoo, and TheMomsCo.
According to Raghav Verma, co-founder of Chaayos: €œFacebook and Instagram are important platforms for us to communicate with our audience. The session with Facebook experts helped us understand the new rules for winning on these new-age mediums. We have already run pilot campaigns, and seen tangible results by leveraging the right audience, mood, and creative designs."
Since the inception of the VC Brand Incubator Program in June brands from distinct industries have participated in it. Many of these brands have seen considerable and measurable growth in brand awareness, sales, and profits as a result of the Program.
Said Aman Gupta, Co-Founder of boAt, which sells trendy and affordable audio products and accessories. €œFacebook's support has helped us propel our business and attain 10X growth in scale. This has been achieved via their special events, managed support, and guidance around the best practices. The program helps brand like us grow manifold by driving business outcomes. With 1.1M members in our boAthead family, our journey has just begun."
SMBs are the backbone of India €™s economy, and a large source of new job creation in the country and through programs such as the VC Brand Incubator, Facebook will continue to contribute to the social and economic growth of India.
boAt echoed its world-class quality by once again dominating India's TWS market. While the market saw a 156% YoY growth in Q1 2021, boAt skyrocketed with a massive 576% YoY growth.
Out of the top five highest-grossing TWS models, boAt successfully bagged three spots with Airdopes 131 (7%), Airdopes 381 (4%), and Airdopes 121 (4%). It sets sail to garner more visibility and exposure with its strategically planned marketing campaigns, including partnerships with six IPL teams in the 2021 season.
boAt launched more products in the TWS category with better audio experience, lower latency, smart touch controls, and added durability to offer the best of truly wireless music experience to the Indian consumers. The brand has also launched the all-new TRebel exclusive collection that offers chic hearables created specifically for women.
Besides the audio industry, boAt is also expanding into new categories like smartwatches and grooming, owing to its unique positioning of being a consumer lifestyle brand. Misfit is a new sub-brand launched by boAt for today's modern man that offers them to become the best version of themselves through multi-utility grooming kits and trimmers.
Change is the only constant in life, and in the world of business. Like everything else, music €” from how it €™s composed to how it €™s consumed has evolved dramatically over time.
In terms of music types €” from folk and country music to hip-hop and electronic dance music (EDM), and in terms of output i.e. from gramophones in the late 1800s to CD players in the late 1900s to iPods in the early 2000s and finally to wireless digital playback systems today.
The current size of India €™s music industry is $122.2 Mn (including both physical and digital music platforms), showcases the growing demand for not just production but also on how it will be consumed. For example, income from subscription-based audio streaming stood at a staggering $31.6 Mn in India in 2018, a three-fold growth from subscription-based revenue in 2017.
And to cater to these diversifying needs for music, global giants such as Apple, Sony, Bose, JBL, and Sennheiser offer a plethora of output devices ranging from wired headphones to wireless bluetooth speakers.
However, not every Indian can afford these high-end products. But on the flipside, their low-cost counterparts lack quality €” both in terms of music output and shelf life. However, despite being a price-sensitive country, Indian users want a great experience at an affordable price.
This was the thought that led Aman Gupta, a music aficionado and a chartered account on a quest to find the right product for the right price. Soon after starting, Gupta, a former director of sales at speaker maker Harman International, met Sameer Mehta, a former executive director at Kores (India) Ltd, who shared his passion for music. The result €” the inception of boAt, a consumer tech company offering bass-focused music accessories.
Launched in January 2016, the startup produces fashionable consumer electronics such as earphones, headphones, speakers, travel chargers, and premium cables for millennials €” who are primary consumers of high-bass (a powerful, low-pitched and deep-toned musical sound) music. Interestingly, India has the largest
youth population of 400 Mn as of 2017.
€œboAt creates the kind of music experience millennials in India desire, €™ €™ says Gupta.
Within two years into operations, boAt registered $15.4 Mn (INR 108 Cr) gross sales in FY18, which is almost a 300% hike since the last financial year.
At present, boAt sells roughly 6,000 units per day at an average of 4 units per minute.
boAt €™s Fight For Acceptance
It hasn €™t always been smooth sailing, though. Like any other startup, boAt has had its share of hurdles. Gupta says that the biggest challenge was winning the trust of people, especially in the presence of bigger and established brands in the music output space.
Back in 2016, the acceptance rate of boAt products by both consumers and retailers was low. But with time, things have changed. €œPeople started using boAt products and building faith in us, € adds Gupta. This is one of the reasons that 30% of its customers fall under the repeat category.
In terms of distribution, boAt started out with selling its products on only popular ecommerce platforms such as Amazon and Flipkart, and has now adopted the offline mode as well by selling in third-party retail stores.
An Ocean Of Competition
The music accessory sector is crowded with a number of well-established brands, including renowned brands such as Sony and Sennheiser and Indian players such as Karbonn, iBall and Intex and MuVu. Then, there are the €˜easily available €™ low-cost Chinese products that inundate the market, giving a wide range of choices to millennials.
So, how did boAt strike the right chord?
boAt sets itself apart in this crowded sea of players with its focus sharply set on millennials who want to experience high-bass music and for whom music accessories are more than just a piece of audio equipment.
While products of these global brands start at an average price of $15, boAt offers similar products in a price range of below $10. Whereas other locally manufactured products offer music accessories at as low as $1.43, but they lack quality and have a low shelf-life. On the other hand, boAt products are made up of tangle-free wires and with metallic finish, small touches which go a long way.
According to the company, the low-price devices, which come with value-added features have been important factors fuelling the growth for them. For instance, boAt Airdopes 211 True Wireless Earbuds are available at a price of $35.9 (INR 2,499) whereas products similar to it offered by big players such as Apple are priced at $184.24 (INR 12,900), Nokia at $142.81 (INR 9,999), and Sennheiser at $357.05 (INR 24,999).
Being a tech startup, boAt has always focussed on innovation. It recently came up with boAt Stone 700A €” a waterproof and shockproof portable smart speaker with built-in Alexa, priced at around $49.97 (INR 3,499). Similar products from other brands start roughly around $57.12 (INR 3,999). boAt even offers Apple-certified metallic lightning cables for iPhones and iPads which they claim are indestructible.
boAt products, which are manufactured in China on a contract basis, undergo a €œsix-people quality check € to ensure better-build quality. They are made of eco-friendly and non-hazardous materials.
€œIf the rating of any of our product goes below 3.5, we discontinue the product and look for better ways to improve our next product. € €” Gupta
However, although India is a price-sensitive market, it is also value-driven. Gupta says, €œIf we reduce our product prices further, we will get a better market, but we are here to build a sustainable business. €
Tuning Into The Future
According to Inc42 DataLabs, with a total of 27 deals securing $111 Mn funding from 2018 to February 2019, the consumer technology sector looks promising. Industry reports state that the market of Indian appliances and consumer electronics (ACE) reached $31.48 Bn (INR 2.05 Tn) in 2017, making the country one of the largest electronics markets in the world. It further states that the market is expected to grow at 41% CAGR between 2017-20 and reach $400 Bn. Analysts also forecast that with the rising number of startups such as GenRobotics, SectorQube, boAt and Planys Technologies, the consumer technology sector is set to make a mark in the overall Indian startup industry.
Building a product for the younger generation makes sense, especially when it comes to music. €œMillennials shop in a different manner, which is more logical. They conduct a wide research and know the difference between low-cost and quality yet affordable products, € adds Gupta.
Encashing on the opportunity, boAt has hit its benchmark of $15 Mn in gross sales in a short span of two years. Moving forward, the startup plans to come up with more fashion-oriented innovative products, home-audio devices and aims to reach its next milestone of more than $70 Mn in sales within the next five years.
boAt was a Gifting Partner At Inc42 €™s flagship conference €” The Ecosystem Summit.
boAt announced their official partnership with six IPL teams this season - Chennai Super Kings, Royal Challengers Bangalore, Kings XI Punjab, Kolkata Knight Riders, Delhi Capitals and Mumbai Indians.
boAt also launched limited-edition earphones, headphones, and speakers inspired by the insignia and design theme of the teams, to truly bring the stadium home for fans.
Nikhil Bardia, head of sales, IMG Reliance, said, €œExcited to have boAt as our official audio partners, they truly know how to increase the decibel of excitement for the millennial of the country. €
The brand €™s very own boAtheads: Hardik Pandya, Shikhar Dhawan, Shreyas Iyer, Rishabh Pant, Prithvi Shaw, and KL Rahul will also play with their respective teams.
Aman Gupta, co-founder, boAt Lifestyle , said, €œIPL season will give the right push to not only speakers, sound-bars, and earphones but the overall audio industry.
We are optimistic with our limited edition of headphones and speakers, the experience for our consumers will be bass-heavy."
In a year that was 2020, grit and perseverance was the key to success. At boAt, it was a year unlike any other, bringing us on the global map for wearables, and becoming the most loved TWS brand in the country.
In search of the most influential leaders of our generation BW Businessworld conducted the 4th edition of BW Disrupt 40 under 40 Awards and Summit.
The award recognises and highlights the brightest young entrepreneurs, innovators and change-makers in the country.
Aman Gupta, co-founder of boAt Lifestyle, managed to keep boAt in its tracks and as a testament to his passion and innovation, ranked among the top 40 under 40 winners of 2020.
Aman was picked from among 190 participants who were also vying for the distinguished honour which includes some of the most inspiring and up & coming individuals the country has seen.
boAt Lifestyle is elated and humbled to see Aman being recognised with this honour!
boAt collaborated with celebrity Designer Masaba Gupta to launch a limited edition collection of spunky headphones at the LakmÃ© Fashion Week 2020.
Together, they have launched a line of products to cater to the millennial audience, bringing back the disco style of the 70s.
Masaba Gupta, excited about the collaboration, said, €œWe are super excited about collaborating with boAt. I am very excited to be collaborating with a brand that is always willing to push the bar & do something young, fun & new. And I think lending House of Masaba €™s aesthetics to boAt €™s headphones, which are again superior products, will invite a new consumer and excite the existing ones with cool, fresh & quirky products.
I think this is a perfect collaboration because I love music; It is a big part of my runway shows, my presentations & I think through music, through these headphones & through our summer collection we will be able to transport people into a parallel universe which I can €™t wait to share it with them. I am looking forward to this. €
Regarding the collaboration, Aman Gupta, co-founder of boAt Lifestyle said, €œLakmÃ© Fashion Week is the Mecca of fashion in India and as a lifestyle brand it became an ideal platform for us to partner and showcase our authority when it comes to stylish consumer electronic products. This season was extra special to us as we are commencing our partnership with Masaba.
Her designs are defined to be a blend of contemporary and traditional with a pinch of modernity. As one of the leading fashion designers in the industry, she connects well with our audience. She understands boAt €™s design philosophy and the same is displayed in the limited edition €˜boAt X Masaba €™ collection of headphones. We believe our boAthead community will be truly inspired by the new and refreshing designs. €
This is definitely one of the most exciting partnerships to be happening in the times!
Affordable audio brand Boat has launched its latest product, the Boat Airdopes 411 true wireless earphones. Priced at Rs. 2,499, the Boat Airdopes 411 are available now on Amazon, and will add to the growing competition in the affordable true wireless earphones segment thanks to its feature set and pricing.The true wireless earphones are available in five colour options, of which two are currently available and the other three will be launched in the coming weeks.
There are other modern specifications and features on the earphones as well.
boAt Airdopes 441 specifications
The Boat Airdopes 441 are the latest product in the Airdopes range of true wireless earphones from Boat, and come with better features while maintaining the affordable pricing that is the forte of the Indian audio brand. The earphones feature Bluetooth 5.0 for connectivity, and are powered by 6mm dynamic drivers. There is also IPX7 water resistance on the earphones, making them suitable for all kinds of outdoor and fitness use; this will be particularly useful as India heads into the monsoon season this month.
boAt Airdopes 441 price in India vs the competition
At Rs. 2,499, the Boat Airdopes 441 is a bit more expensive than the recently launched Rs. 1,799 Redmi Earbuds S. However, Boat hopes to win over customers with better features, including USB Type-C charging and up to 25 hours of battery life, as well as better water resistance and colour options. There is also a feature called €˜Insta Wake N' Pair' which is said to offer faster connectivity when opening the lid of the charging case.
The earphones are also a significant step up over the Boat Airdopes 411 which was launched last year for Rs. 2,999. Boat is a popular brand in the affordable audio space, competing with other Indian and international audio manufacturers in segments that includes wireless earphones and headphones, true wireless earphones, and portable wireless speakers.
The results of the Great Lifestyle Brands awards were announced post the insightful conference on the same theme at Crowne Plaza, Gurugram yesterday. Forty metals were won across categories including - Mainstream Media, Visual Merchandising, Social Media and Experiential. The product groups included Alcoholic Drinks, Consumer Electronics, Apparel, Foods and Beverages, Automotive-four wheelers, Automotive-two wheelers, Personal Accessories, Personal Care, Consumer Durables and Retail.
The Great Lifestyle Brands initiative has been crafted with a vision to help marketers, agencies and all in the business of brand communication to review the best practices that go into creating truly great lifestyle brands.
Apart from the categories, there were four special awards. These awards were based on overall performance in groups such as 'Most Sincere', 'Most Exciting', 'Most Sophisticated' and 'Most Competent'. Tanishq was named the Most Sincere brand of the year. Lifestyle emerged as the Most Exciting brand of the year. Fabindia coveted the Most Sophisticated brand of the year award, and Dell was awarded the Most Competent brand of the year title.
ALSO READ:Â 35 agencies strike gold at Foxglove Awards 2019
Here are the brands that managed to strike Gold this year across various categories:
Geist for 'Girls who Drink Geist â€“ Brew Tour Experience' in the Experiential category.
Jim Beam for 'Jim Beam Stop Motion Videos' in the Social Media category.
Sterling Reserve for 'Sterling Reserve project' in the Social Media category.
ColorPlus for 'Mom, my first stylist' in the Experiential category.
Love, Bonito for 'Love Bonito E-commerce' in the Mainstream Media category.
Celio for 'World Denim Day' campaign in the Social Media category.
Lifestyle for 'Colors Fest' in the Visual Merchandising category.
Bajaj Platina for 'Platina Aaram rath' in the Experiential category.
Bajaj Auto for 'Bajaj â€“ the world's favourite Indian' in the Mainstream Media category.
Harley Davidson for 'The #FindYourFreedom Internship' in the Social Media category.
PT Astra for 'Presence in Digital Channel' in the Mainstream Media category.
Franke Faber India for 'First-ever real virtual showroom on a website to drive omnichannel strategy' in the Experiential category.
Nescafe for 'E by Nescafe launch campaign' in the Social Media category.
Dell for 'Dell Gaming & Alienware 2018' in the Experiential category.
BoAt for '#iamaboAthead' in the Mainstream Media category.
Razer for 'Razer e-commerce implementation' in the Social Media category.
Dell for 'Dell gaming and alienware 2018' in the Social Media category.
Foods and Beverages:
Mondelez for 'Mondelez India e-comerce/online' in the Mainstream Media category.
Devyani Foods for 'Cream Bell BonBon increased in-home consumption using social, TikTok and Radio' in the Social Media category.
ITC B Natural fruit beverages for 'Rendition of Vande Mataram for Independence Day' in the Social Media category.
Tanishq for 'AR Product trials â€“ Airport Activation' in the Experiential category.
Tanishq for 'Best use of consumer insights' in the Mainstream Media category.
Fastrack for 'Fastrack E-commerce' in the Mainstream Media category.
Tanishq for 'Utsava - Tanishq wali Diwali campaign' in the Social Media category.
Lifestyle for 'Desserts and Ants â€“ Handbag' in the Visual Merchandising category.
LUX for 'The Soap With A Lump' in the Experiential category.
Lifestyle for 'Festive Surreal Symphony' in the Mainstream Media category.
TataCliq Luxury for 'TataCliq Luxury E-commerce implementation' in the Mainstream Media category.
Spykar for 'What is GYM JNS?' in the Social Media category.
The award-winning consumer audio brand â€“ boAt has associated with Percept Live as their official Audio Partner. boAt will take centre stage as Audio Partner for the musical extravaganza Sunburn, a Percept Live Intellectual Property, ranked as Asiaâ€™s Premiere Electronic Dance Music (EDM) festival. The association will also see boAt as the official Audio Partner for Bollyboom, a Percept Live IP, and the worldâ€™s first and biggest Bollywood Dance Music Festival. boAt will partner with Bollybomâ€™s multicity tour with legendary singer and boAt ambassador Guru Randhawa.
boAt will be running a 360-degree marketing campaign for fans and musicophiles giving them a chance to attend all the Sunburn and Bollyboom concerts pan-India through 2019-2020. While Bollyboomâ€™s Guru Randhawa multi-city tour will give Bollywood music fans a chance to groove to the singerâ€™s talent and boAtâ€™s state-of-the-art audio technology, Sunburn will see boAt partner on the audio front on a multiplicity of event formats pan-India including Sunburn Arena, Sunburn Campus Tours and the much awaited three day Sunburn Festival which will be held in Vagator, Goa from 27-29 December 2019.Â
Sunburn, a Percept Intellectual Property, is Asiaâ€™s Premiere Electronic Dance Music (EDM) Festival, and is ranked amongst the worldâ€™s biggest music festivals. Started in 2007 as a 3 day music festival in Goa, Sunburn has grown to become an aspirational lifestyle brand boasting an eclectic mix of music, entertainment, experiences and celebration that has seeded music tourism in India. Over the past decade, Sunburn has brought together renowned International and Indian artists to entertain millions of dance music lovers across the globe, and has positioned India as a prime dance festival destination to the world. SunburnÂ has the distinction of having brought down to India the worldâ€™s top 10 DJs, including Swedish House Mafia, Martin Garrix, Tiesto, Avicii, Hardwell, Deadmau5, Armin van Buuren, David Guetta, Afrojack, Above & Beyond, The Chainsmokers, Dimitri Vegas & Like Mike, Marshmello, Paul Van Dyk, Skazi, Pete Tong, Dash Berlin, and Nicky Romero.Â RankedÂ recurrently as Asiaâ€™s No. 1 Live Experience Fest since 2009, Sunburn is positioned in the Top 3 Festivals in the world alongside Tomorrowland and Ultra Miami festival.
Bollyboom, a Percept Intellectual Property, is a forerunner that introduced a new genre called Bollywood Electro Music, a fusion of Bollywood music and electronic sounds in the festival market in India since 2013. Previous editions have witnessed live performances by Sonu Nigam, Salim-Sulaiman, Shaan, Shveta Pandit, Shraddha Pandit, DJ Raftaar, DJ Aqeel, DJ Shilpi Sharma, DJ Zulfi Syed, DJ Aman and Guru Randhawa. Apart from Arenas and Pop-ups, Bollyboom has hosted multiple Club Nights across the country.Â
Commenting on the association,Â Aman Gupta, Co-founder, boAtÂ said, â€œSunburn, Bollyboom and boAt have grown to become lifestyle brands offering and celebrating music experiences unlike any other. Sunburn is one of the most-awaited music festivals of the year and we are thrilled to be associated with Percept Live. As a millennial audio brand we will continue to partner with such properties that resonate with our target audience.â€
Karan Singh, Chief Operating Officer, Percept LiveÂ commented, â€œWe are excited to partner with boAt. Both Sunburn and Bollyboom have challenged the status quo and emerged as a favourite among Millennials and Gen Z. We innovate, experiment and scale up our products every year to provide fans a world class entertainment experience with the best artist line-up, state-of-the-art technology and a wide range of activities to keep them fully immersed and entertained. This year too, we intend on raising the bar and our Audio Partnership with boAt will certainly offer our fans an entertaining musical experience like never before.â€
In a sector dominated by established global brands, boAt has ramped up quickly in a short span of three years, through its core high-quality audio product line of smart, efficient, stylish and durable â€˜hearablesâ€™. The brand has already registered INR 100 crores in FY'18 as gross sales and is eyeing INR 500 crores in the next few years. With a strong focus on consumer desires and aesthetics, the brand has created products that seamlessly integrate into the evolved consumerâ€™s personal style statement. The trendy look and feel of the boAt speakers and headphones have led to the new category of â€˜hearablesâ€™ akin to fashion accessories. boAt has already created a community of over 1,200,000 boAtheads (consumers) who want to be seen listening and wearing their favorite audio accessories to make a lifestyle statement.
boAt products are available both online (Amazon, Flipkart, Myntra, Snapdeal, etc.) and offline (Croma retail, Vijay Sales, Poorvika Mobiles, etc.)
boAt Lifestyle has partnered with six IPL teams, becoming the official audio partner for the 2021 Indian Premier League Twenty20.
In partnership with Chennai Super Kings, Kolkata Knight Riders, Punjab Kings, Mumbai Indians, Delhi Capitals, and Royal Challengers Bangalore, boAt has launched limited edition products under its Airdopes, Bassheads and Rockerz brand which is inspired by the style, design and colour combinations of the respective teams.
Regarding the partnership, Aman Gupta, co-founder of boAt Lifestyle, said,
IPL is back to India and in its original summer window. Cricket has always been a religion in our country and the league will boost overall consumer confidence. We want to welcome the IPL teams back to India by launching TWS earbuds with the teams €™ insignia. €
Nikhil Bardia, head of sponsorship sales, RISE Worldwide, added,
We have been working with boAt for five years and witnessed their growth trajectory. It is intriguing to see them continue to expand their partnerships with IPL teams and grow in the cricket sponsorship space. boAt's large appetite to come up with new and exciting products has helped them connect with millennials and become market leaders. I can't wait to see their new merchandise for this year's IPL."
boAt has also launched a digital campaign €˜#SoundOfChampions €™ to celebrate the spirit of cricket champions that coincides with the ethos of boAt Lifestyle.
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