In 2015 Aman Gupta and Sameer Mehta started a creative brand high on fashion and technology ‘BoAt’. It is owned by Imagine Marketing who made their competitors to introduce a lower version of their product in India. The main purpose of BoAt is to give a quality ‘fashionable’ audio products and accessories to millennials.
They introduced a term BoAthead which means people who own the products of BoAt are referred to as BoAthead. Over the years their team has expanded to 25 members and also have offices in Delhi and Mumbai.
- In last two years, they recorded a sale of Rs100 crore. They have consistently performed well in the market and made a community of 8,00,00 BoAtheads.
- BoAt claims that they sell lifestyle accessories to their customers and not just any consumer electronics goods.
- They want to position their product as a durable fashion accessory which can be a part of consumers daily routine. This strategy will help them get the attention of millennials.
- BoAt was a part of Lakme Fashion Week Mumbai where the model walked the ramp for a designer wearing only BoAt accessories.
- It is currently being sold on all major e-commerce platforms such as Amazon, Flipkart, Myntra and Jabong and is also in retail giant Croma.
- They are also planning a shop in shop concept for the consumers as their 20% sales come from offline sales.
- BoAt believes that celebrity ambassadors and endorsers helped them to reach a wider audience across the country and word of mouth has really benefited them.
- In 2018 fireside Ventures invested Rs 6 crores which helped the BoAt to raise their first round of equity.
- They also have plans to partner with phone manufacturers and provide earphones to them so the consumers do not have to separately invest in earphones just like Samsung has Harman and JBL, and Apple has Beats.
BoAt is a successful consumer electronic lifestyle brand and has managed to set a trend because of its quality, durability & style. BoAt has plans to enter the global market, but before that, they want to create a strong base in India.