Boat is an electronics branch that was established in 2015 in India. The company’s real name is Imagine Marketing Services Private Limited. It was founded by Sameer Ashok Mehta and Aman Gupta, incorporated in November 2013. Boat company markets consumer-based electronic devices like earphones, headphones, travel chargers, and premium rugged cables.
Moreover, it also designs and markets wireless products like wireless earbuds, headphones, speakers, smartwatches, and other phone accessories. From 2015 till now, the boat has become a first preference of the Indian consumers in the market of electronic gadgets and mobile accessories. Boat business model has observed a drastic positive change in the revenue and its priority in the market. So, focussing upon this business venture as a brand, reaching every house of the nation, let’s discuss Boat success story.
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WHY IS THE BOAT COMPANY FAMOUS?
Before Boat, many brands were marketing speakers, headphones, and other electronic items for the customers. But, in 2016, Aman Gupta thought of doing something incredible. Failed by the rejections on investments, Gupta still has a belief that when his brainstorming idea would launch into the market, it will not only cover the world’s largest brands but also run a marathon to become the highly-preferred brand. So, after investing hard work and a million of money in the market for four years, the Boat business model finally became the fifth largest wearable brand in 2020. It not only overtook Xiaomi and Samsung but Apple also. This was the first turning point in the Boat success story. The brand not only raised its revenue in crores sold at least 15,000 units per day. It seems like people took the tagline of Boat ‘Plug into Nirvana’ seriously!
Now, what could help a company to reach the doorstep of every second home of the nation so quickly? What could help a company to get a direct invite on becoming a member? What could help a company to let the millennials live their lives from radio to wireless devices? It’s nothing but the quality, affordability, and world-class designs that the company provided. Now, Boat stole the show by becoming India’s no. 1 earwear audio brand, another turning point in the Boat success story.
WHO IS THE OWNER OF BOAT?
So, Aman Gupta is the co-founder of India’s top audio brand Boat. Talking about his early life and success story, Aman found this company with his partner Sameer Mehta. He has completed his graduation from Delhi University. He is not only an entrepreneur but also a Chartered Accountant. Gupta has worked with Citi Bank for two years as an assistant manager. Before Boat, Aman founded Advanced Telemedia Pvt Ltd. Aman has also worked as a senior consultant at KPMG and completed his master’s in MBA from Kellogs School of Management the same year. Aman is popularly known as one of the Shark Tank India Investors.
HOW DID BOAT BECOME SUCCESSFUL?
Boat business model designs and markets highly demanded and valued consumer-friendly electronics products. It ranges from wired headphones to wireless earbuds, and wireless speakers. The company also designs home audio equipment, smartwatches, and several mobile phone accessories. These products are the only reason how the company became successful in such a short period. So, let’s know about some of the best products of Boat.
The wireless earbuds of Boat are high in demand with the brand name Air dopes. Its retail process ranges from Rs.4,000 to Rs.6,000. Many other brands are now competing with Boat’s earbuds. But the quality and feature of Bluetooth connectivity is what makes the product high in Demand. One of the best reasons why people prefer boat ear dopes is that they include built-in batteries that can charge wireless earbuds inside the box when they are not in use.
TETHERED WIRELESS EARBUDS
The company markets tethered wireless earbuds under the brand name Rockerz and Boat. Consumers can buy tethered earbuds ranging from Rs.3,000 to Rs.5,000. These earbuds are connected with each other through a wire or a band. Such bands control the batteries and processors. It also helps to drive the speaker in the earbuds. So, consumers wear this band around their neck or behind the head.
Boat business model also markets wireless headphones in both on-ear and over-ear form. The company distributes wireless headphones under the brand name BoAt, Rockerz, and Nirvana. Consumers can purchase the product at any cost ranging from Rs.3,000 to Rs.8,000. Boat’s wireless headphones are not connected to an audio source through any wire or cable. Its device outlays the Bluetooth connectivity to play audio from any audio source like a mobile phone, computer, or stereo system. These wireless headphones contain lithium-ion batteries which are integrated into the device. Many wireless headphones of this company arrive with an auxiliary audio cable/ Consumers can attach those cables into standard headphone jacks.
WHAT IS THE TURNOVER OF BOAT COMPANY?
Boat business model observed a double revenue from the financial year 2020 to the financial year 2021. It increased its profit by 61 percent in 2021 to Rs.78 crore. So, the company’s turnover proves all the reasons valid in Boat success story.
IS BOAT A PROFITABLE COMPANY?
Yes, Boat is indeed a profitable company. The founders did not only prove that investing in this business venture is worth the risk, but they also promise to engrave a mark on the iconic history of electronic gadgets. The coming generation is tech-savvy. Boat, not only connected millennials with technology, but also welcomed generation z with modern products. Boat has become successful in such a short period. However, it is just the beginning. There will be ups and downs in the journey. But, the company would always find some way or the other to fight against the competitors. There will be many more new products that consumers will prefer for a longer duration in the future. The company will achieve a lot more things and break enormous records in this technological world. Also, there would be much more to discuss the boat success story.