India’s Pride : boAt creates history; becomes 5th biggest wearable brand in the world
- boAt grew by 4X to in the September quarter to share the fifth position with Google’s owned Fitbit worldwide
Breaking all barriers, home-grown consumer audio & accessories brand boAt Lifestyle has placed India on the global map by becoming 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.
Rise in ‘from Home’ culture like ‘Work from Home’, ‘Study at Home’ and ‘Stadium at Home (with IPL) continues to act as a catalyst this festive season for consumers to buy boAt products that offer great sound experience. Aggressive marketing backed with strong product line-up at affordable prices, strong channel partnerships, portfolios across various price tiers, and building a strong consumer base are some of the strategies that worked for boAt.
Congratulating boAt on this historic occasion Rajesh Sharma Executive Director and Principal Advisor at Indian Cellular and Electronics Association (ICEA), “It’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”.
On the global recognition, Aman Gupta, Co-founder, boAt said, “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 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. It has already created 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 is a ‘Made for India’ lifestyle brand started in 2016 that deals in hi-quality aesthetically designed consumer electronics. boAt has been defying barriers in a sector dominated by established global brands boAt creates exceptional user experience across its extensive range of products of headphones, earphones, wearable (fitness bands), speakers, travel chargers & premium cables. The products are designed keeping in mind the preferences of listeners looking for stylish and quality products that are premium looking yet affordable and which resonates with their personality. In a short time span, boAt has built traction and has created a community of over 3 million boAtheads online (consumers). The company today sells more than 15,000 units a day.
boAt was founded by Aman Gupta and Sameer Mehta. The company has raised venture debt from Flipkart Co-founder Sachin Bansal’s BAC Acquisitions and InnoVen Capital and equity from Fireside Ventures to date.
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