boAt: The ‘BOSE’ Of The Indian Market
Enjoying wonderful music is the most acceptable way to pamper oneself, and if the device you are listening on is a boAt gadget, it is genuinely like an icing on the cake. Such has been the transformation of this lifestyle brand which delivers us economical, trendy, and decent quality electronic gadgets.
This blog will make you revisit boAt Lifestyle’s brief yet fascinating voyage. Additionally, we shall study their items briefly to comprehend the expansion of their catalog. Further, we will examine their investors and market performance over time.
A Startup with a bright future
boAt Lifestyle does not have a very illustrious past. A Delhi-based company was started in 2016 by Aman Gupta and Sameer Mehta. The firm describes itself as a lifestyle brand specializing in modern consumer electronics. boAt Lifestyle was created to supply millennials with low-cost, long-lasting, and most importantly, ‘fashionable’ audio products and accessories.
It began as a cable producer and marketer and has grown its portfolio. It now offers a diverse range of trendy electronic items, including travel chargers and luxury cables, as well as headphones, earphones, and speakers. The firm is progressively growing and reaching out to millions of ‘boAtheads’.
Reason Behind The Success
There is no one-size-fits-all formula for success. It entails joining multiple dots to create a line. boAT, being the top earwear brand, is not an exception to the procedure. However, they modified their strategy from the start when they positioned themselves as a lifestyle brand and continued to improvise. Numerous things contribute to boAt’s success.
Investors And Market Success Throughout The Years
boAt Lifestyle is a firm that has just recently begun to navigate into the deep waters of the audio gadget industry. However, the market figures are encouraging for them, as they continue to grow, despite the fierce competition. Aman and Sameer, the two founders contributed around $3 million to start this company, and later they succeeded to make it a multi-million company.
Kanwaljit Singh of Fireside Ventures made a $60 million investment in the firm in 2018. Singh praised the entrepreneurs‘ abilities to identify white spaces, the product’s quality, and their targeted approach.
boAt lifestyles focuses on both fashionable and durable items. The success of boAt products has forced industry giants like JBL to lower their prices to compete in the low-cost audio sector. It’s noteworthy because Aman Gupta, one of the co-founder of boAt was a former JBL employee.