When Sameer Mehta and Aman Gupta launched boAt in 2016, the goal was to avoid another me-too sourced from China product “without having a clear vision on the design and Intellectual Property”.
Today, boAt is present in 5,000 retail stores, supported by 20 distributors. The startup claims to be clocking sales of over 10,000 units a day, and four million units per year, and says it has served 20 million Indians so far.
In FY 2020, it clocked a revenue of Rs 500 crore, up by 108.8 percent from Rs 239.44 crore in FY 2019, while the business has been profitable for five years straight.
Behind boAt’s growth is a consumer-first approach, which has made the startup one of the most sought-after youth brands in India. Almost 80 percent of its sales coming from ecommerce channels such as Amazon and Flipkart.
By paying heed to millions of customers’ reviews online, boAt was able to learn what other brands did not want to learn —that Indians loved a product that can be part of their lifestyle.
“Our hypothesis was to listen to the consumer and to address their needs. In the D2C world, the consumer’s feedback is instant and that is what we listen to build our brand,” Aman tells YourStory.
Narayana Murthy-backed Paper Boat is giving traditional Indian beverages a makeover
Building a global D2C audio brand
According to Aman, at the time boAt launched, Indian players couldn’t compete with Chinese brands and their financial muscle.
… Read the rest
“That is why we focused on product quality and starting with small numbers. We started our business by launching indestructible charging cables in 2015, and realised that owning the IP in a brand is very important rather than just sourcing products from China, which a lot of other brands