India’s audible and wearable market grew by more than 45% in the last few years. The entry of Chinese smartphone brands raises the demand for mobile accessories and smart electronic devices. Today, you can spot a lot of people using the smartwatch, earphones, earbuds, and many more. However, one Indian-based startup that gets everyone’s attention is Aman Gupta and Sameer Mehta’s boAt lifestyle.
The company has the largest market share of 25.6% in the Indian wearable market. Do you know how boAt started as a startup and became one of India’s best audible and wearable brands? This is why boAt share price consistently increase with the company’s growth. If you are an investor, it will be interesting to know the journey of boAt becoming a giant in India’s audible and wearable market.
boAt Started To Sail In 2016
Great ideas create successful startups. It is also true in the case of boAt, which is the result of the revolutionary business idea of Aman Gupta and Sameer Mehta. The boAt set its sail in 2016 when both co-founders met at the House of Marley with their respective proposals for distributing the US-based brand’s headphones. It was the time when the Indian smartphone market was booming and ruled by e-commerce giants like Amazon and Flipkart.
During the meeting, an executive of the House of Marley suggested that Aman and Sameer meet each other. Fortunately, the duo decided to meet each other at the Bandra Hotel in Mumbai, Maharashtra. That small meeting gave birth to India’s homegrown consumer electronic brand, boAt. Aman Gupta had marketing knowledge, which helped boAt get recognition in a few years. Founded to provide a premium range of headphones at affordable pricing to GenX, boAt has become one of India’s best direct-to-consumer(D2C) brands.
According to the data shared by the India D2C Yearbook, the current estimated boAt valuation is $100 billion. In terms of financials, boAt has performed well since its inception and emerged as the top-performing company in the grey market. It reflects on boAt share price, which has remained high in the last few years. It is also interesting to know how boAt became India’s top audible and wearable brand. We will discuss it in the next section.
Reasons Behind boAt’s Success In India’s Audible & Wearable Market
The success of any brand depends on the demand for its product in the market and the business strategies it adopted during the initial stages. boAt understands the revolutionary trends and needs of GenX customers. From the beginning, boAt focused on targeting the young generation and providing a premium range of audible and wearable products at affordable rates.
Amid high competition from Chinese and local brands, boAt managed to make its position in the Indian market. Here are the major reasons behind boAt’s success in India’s audible and wearable market:
Leverage E-Commerce Platforms
The major turnaround for boAt was when it partnered with e-commerce brands like Amazon and Flipkart to sell its products online. It got exposure in front of millions of customers who shifted towards online shopping and loved to explore new audible and wearable brands. As a result, the distribution system of boAt strengthened, allowing it to deliver its products across India to 19,000 PIN codes.
boAt is famous for its targeted marketing, which made it climb the steps of success in a short period. The company uses influencer marketing and is associated with sports brands to promote its products among target audiences. Biggest Bollywood celebrities like Kartin Aryan, Rakul Preet Singh, and Neha Kakkar already promote boAt products via influencer marketing. In addition, boAt is also the audio partner of IPL teams like Royal Challengers Bangalore, Kolkata Knight Riders, and Gujarat Partner.
Made For India Initiative
The company successfully created its Made In India consumer electronic brand through successful campaigns. boAt lifestyle has a clear tagline of “Made For India, Made By India,” which makes people trust them. Over the years, the company became successful, and people shifted towards Indian-based brands and supported the Government’s initiatives. boAt manufactures its audible and wearable products in different cities of India as per the needs of Indian customers.
Started as a small startup, boAt is now India’s no. 1 wearable brand with a turnover of Rs 2,873 crore annually. Apart from this, boAt unlisted shares also perform well in the grey market, which is a positive sign for its investors.
Plan Your Investment In boAt Pre-IPO Shares
The business growth of boAt in the last few years remains exceptional, positively affecting boAt unlisted share price. Since the company delayed its IPO plans and might launch it in FY25-26, it is recommended to buy unlisted shares of boAt.
However, you should conduct your own research before investing in boAt pre-IPO stocks. If you find this process complex, you can leverage online unlisted shares trading platforms like Stockify. On this platform, you will get updated boAt share price along with its financial performance for different fiscal years. Plan your long-term investment in boAt pre-IPO shares now!