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The Bro Code - Meet The Sound Industry's New Disruptors
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 café 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.
boAt bets big on cricket, ropes in Shikhar Dhawan, Jaspri...
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.
Tuning in: Co-founder Aman Gupta has ˜plugged into a new...
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 Lakmé 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 scripts a new strategy for a melodious growth in India
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. €
Brand Solutions
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.
India's awards tally, shortlists and more: Click here for complete coverage on Cannes Lions 2019
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.)
BoAt Lifestyle: Addressing The Issues Faced By 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
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.
Excerpts:
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.
The USP
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.
Business model
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.
Overseas foray
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.
Social touch
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.
Tech disruptions
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.
Self-realisation
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.
boAt Audio Introduces New Range of Earphones & Speakers a...
boAt launched their new range of audio products - Stone 170 Portable Bluetooth Speakers, Airdopes 311V2 and SpinX Portable Wireless Speaker at the recently concluded Lakmé 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, €œLakmé 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 Lakmé Fashion Week.
Product Details
boAt Stone SpinX 2.0 portable Wireless Speaker with Extra basss
Product Description:
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
Product Description:
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.
Qualcomm Ventures invest in boAt to power ˜Make in India...
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.
Cricketer Shreyas Iyer new face of audio brand boAt
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.
--IANS
Facebook joins VC fund SAIF Partners to mentor small busi...
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 Dominates India's TWS Market For The Third Consecuti...
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.
boAt Collaborates With Masaba For An Exclusive Collection
boAt collaborated with celebrity Designer Masaba Gupta to launch a limited edition collection of spunky headphones at the Lakmé 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, €œLakmé 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!
Source: BWDisrupt
Gold in consumer electronics for #IamaboAthead
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:
Alcoholic Drinks:
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Geist for 'Girls who Drink Geist – Brew Tour Experience' in the Experiential category.
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Jim Beam for 'Jim Beam Stop Motion Videos' in the Social Media category.
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Sterling Reserve for 'Sterling Reserve project' in the Social Media category.
Apparel:
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ColorPlus for 'Mom, my first stylist' in the Experiential category.
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Love, Bonito for 'Love Bonito E-commerce' in the Mainstream Media category.
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Celio for 'World Denim Day' campaign in the Social Media category.
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Lifestyle for 'Colors Fest' in the Visual Merchandising category.
Automotive two-wheelers:
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Bajaj Platina for 'Platina Aaram rath' in the Experiential category.
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Bajaj Auto for 'Bajaj – the world's favourite Indian' in the Mainstream Media category.
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Harley Davidson for 'The #FindYourFreedom Internship' in the Social Media category.
Automotive four-wheelers:
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PT Astra for 'Presence in Digital Channel' in the Mainstream Media category.
Consumer Durables:
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Franke Faber India for 'First-ever real virtual showroom on a website to drive omnichannel strategy' in the Experiential category.
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Nescafe for 'E by Nescafe launch campaign' in the Social Media category.
Consumer Electronics:
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Dell for 'Dell Gaming & Alienware 2018' in the Experiential category.
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BoAt for '#iamaboAthead' in the Mainstream Media category.
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Razer for 'Razer e-commerce implementation' in the Social Media category.
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Dell for 'Dell gaming and alienware 2018' in the Social Media category.
Foods and Beverages:
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Mondelez for 'Mondelez India e-comerce/online' in the Mainstream Media category.
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Devyani Foods for 'Cream Bell BonBon increased in-home consumption using social, TikTok and Radio' in the Social Media category.
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ITC B Natural fruit beverages for 'Rendition of Vande Mataram for Independence Day' in the Social Media category.
Personal Accessories:
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Tanishq for 'AR Product trials – Airport Activation' in the Experiential category.
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Tanishq for 'Best use of consumer insights' in the Mainstream Media category.
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Fastrack for 'Fastrack E-commerce' in the Mainstream Media category.
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Tanishq for 'Utsava - Tanishq wali Diwali campaign' in the Social Media category.
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Lifestyle for 'Desserts and Ants – Handbag' in the Visual Merchandising category.
Personal Care:
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LUX for 'The Soap With A Lump' in the Experiential category.
Retail:
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Lifestyle for 'Festive Surreal Symphony' in the Mainstream Media category.
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TataCliq Luxury for 'TataCliq Luxury E-commerce implementation' in the Mainstream Media category.
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Spykar for 'What is GYM JNS?' in the Social Media category.
Consumer audio brand boAt set to enthral Music lovers
The award-winning consumer audio brand – 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 Asia’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 world’s first and biggest Bollywood Dance Music Festival. boAt will partner with Bollybom’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 Bollyboom’s Guru Randhawa multi-city tour will give Bollywood music fans a chance to groove to the singer’s talent and boAt’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 Asia’s Premiere Electronic Dance Music (EDM) Festival, and is ranked amongst the world’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. Sunburn has the distinction of having brought down to India the world’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. Ranked recurrently as Asia’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, Aman Gupta, Co-founder, boAt said, “Sunburn, 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 Live commented, “We 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 ‘hearables’. 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 consumer’s personal style statement. The trendy look and feel of the boAt speakers and headphones have led to the new category of ‘hearables’ 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 Partners With Six Teams For IPL 2021
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.
