A naukri.com initiative
VIE Stories
4w
40
Image Credit: VIE Stories
boAt Company India’s largest wearable brand Growth Net worth and Business Model & Strategy and Future Plan
- BoAt is an audio equipment and electronic gadgets manufacturer founded in 2016 by Aman Gupta and Sameer Mehta in Haryana, India.
- The country’s electronic hardware output climbed from Rs. 4.43 trillion in FY19 to Rs. 5.47 trillion in FY20. India’s demand for electronic devices is estimated to exceed $400 billion by FY24.
- BoAt's business model is entirely focused on what their customers want and is based on a D2C model that ensures its products are affordable and durable.
- BoAt's revenue from operations was Rs 1511.7 Cr, while its other income was Rs 19.57 Cr in FY2021, making it one of the fastest-growing electronic and audio companies in India.
- BoAt is the largest wearable brand in India providing affordable, durable, and fashionable electronic gadgets and audio-centric devices such as wireless speakers, earbuds, wired and wireless headphones, earphones, and many other technological accessories.
- BoAt aims to help Indians obtain all high-quality technology equipment by producing more and more items and strengthening its position as a leader in the electronic gadgets industry.
- Aman Gupta, the co-founder of BoAt, formed the company and journeyed from being a CA to an entrepreneur, struggling with a challenging journey with a Rs 10,500 crore-worth company.
- Most of the BoAt's products are made in China with third-party manufacturers, which caused the company to face many issues in importing products from China due to the India-China dispute and COVID-19.
- Under the PLI scheme, BoAt has recently set up a 50:50 joint venture with Dixon Technologies to manufacture some BoAt products in India.
- The consumer digital economy in India is estimated to reach US$ 800 billion by 2030, up from US$ 85-90 billion in CY20, causing an increase in online purchasing.
Read Full Article
2 Likes
For uninterrupted reading, download the app