Music devices aren’t easily transportable! As a result, we all want a computer to take with us while we fly. I think music and window side are a perfect match! Users will communicate with their souls by perfect songs, forming a barrier between themselves and the living world. Are you really close to the sound level? Do you like music? Do songs transport you to another world? If you want a pair of earphones that look good?
Boat is a brand that offers an incredible selection of earphones, earbuds, headphones, and portable speakers in a variety of styles. It is India’s most popular audio earwear brand. It encourages consumers to get both a spiritual and an energetic feeling at the same time.
boAT: India goes vocal for local
The tradition of boAt Lifestyle isn’t particularly illustrious. It is a Delhi-based company founded by Aman Gupta and Sameer Mehta in 2016. The business describes itself as a luxury brand that sells trendy consumer electronics. boAt Lifestyle was established for the main purpose of providing millennials with inexpensive, durable, and, most notably, “fashionable” audio products and accessories.
Boat’s co-founder and Chief Product Officer is Sameer Mehta. He went to St. Xavier School in Mumbai for his education. He is also the Executive Director of Kores. Boat’s co-founder and chief marketing officer is Aman Gupta. He attended Delhi Public School for his education. He worked with HARMAN International as the Director of Sales.
The creators decided to create a luxury company that dealt with cutting-edge audio-focused electronics. Boat is the product of those thoughts today. The Boat was established with the aim of providing consumers with inexpensive audio accessories and devices. The business began as a cable producer and distributor, and it has since grown into a multibillion-dollar conglomerate.
The Idea behind boat
BoAt was founded in 2016 by Sameer Mehta and Aman Gupta with the intention of avoiding another me-too sourced from China product “without getting a clear view on the architecture and Intellectual Property.” boAt is a pun on a person’s trip to a spot where they can relax and forget about their problems.
With Rs 30 lakh raised from family and friends, the two founders founded Imagine Marketing, the parent company of boAt, in 2014. They developed and launched the first product, boAt BassHeads225, in 2016. It began as a cable maker and distributor, but has since extended its product line. It also offers a wide range of trendy mobile products, including travel chargers and luxury cords, as well as headphones, earphones, and speakers. The business is rapidly expanding, and its offerings are now available to millions of ‘boAtheads.’
Boat: Fifth Latest Wearable Brand in the World
The company’s tagline is “plug into nirvana.” The term “nirvana” refers to achieving total harmony and equality. With the support of 20 dealers, boAt is now available in 5,000 retail locations. The startup continues to sell over 10,000 units a day and four million units a year, and claims to have supported more than 20 million Indians. Currently, its offline market accounts for 20% of its revenue, or nearly Rs 100 crore. The startup’s brands are also available at Reliance Digital and Croma stores.
BoAt was able to discover something other advertisers didn’t want to know — why Indians liked a product that could be a part of their lifestyle — by paying attention to millions of consumer feedback online. According to IDC numbers, boAt was the leading brand in the earwear category in 2019, with a market share of 27.3 percent. In the industry, the business is consistently doing well. Its domestic sales alone have surpassed Rs 100 crore. The corporation has grown from two entrepreneurs to a 35-member team with offices in the top two metro cities of Mumbai and Delhi.
Funding and Revenue Model
It produced Rs 500 crore in revenue in FY 2020, up 108.8% from Rs 239.44 crore in FY 2019, and the company has been profitable for five years in a row. The co-founders are now focusing on establishing a global audio company out of India. The founders put their findings into practise and created goods that were inexpensive, long-lasting, and trendy. It concentrated on the customer-brand relationship, treating purchasers as members of the Boat family.
Croma stores carry the company’s merchandise, and it also sells them on Myntra, Amazon, Jabong, and Flipkart. Boat’s development has been aided significantly by the goods’ excellent results. In March 2020, the company raised Rs 20 crore in venture debt from Sachin Bansal’s BAC Acquisitions to build its team. boAt Lifestyle is a company that has just started to sail in the deep sea of audio devices market.
What drives the future of boat
At the moment, boAt has a number of influencers, including cricketers such as K L Rahul and Rishabh Pant, as well as fashion models, singers, and actors. The lifestyle section, according to the group, can only expand as young Indians consume more. The business claims that purchasing earphones in conjunction with modern smartphones is still a theme. This idea seems to be Boat’s next avenue of success. Every three minutes, it also introduces a new boAthead to its kin.
The creators plan to triple boAt’s sales in four years. The company plans to continue focusing on its online market while further improving customer experience. To reduce its reliance on Chinese manufacturing, the startup has been in contact with manufacturing partners in Southeast Asia. Technology has improved our lives and is the most important enabler of the world we live in today. boAt Lifestyle aspires to be at the forefront of the audio industry’s evolution. The brand does not seem to be coming to a halt, but rather is setting out for a fantastic path.