Listening to good music has always been a therapy for stress release and is one of the best ways to treat us and especially when you are listening to the music on the BoAt device it is just a cherry topping on the cake. The boAt has started acting as a revolution of the regular lifestyle brand which offers us decent quality, stylish and most importantly affordable consumer electronics.
The brand boAt provides a various range of products and devices from a substantial catalogue of starting from premium cables, to travel chargers, speakers, earphones and headphones. In the Indian market, there are more excellent rivalries brands which provide a huge range of a variety of similar products or devices but the only problem with those products are either their looks are found to be awful to the eyes or it is found to be very much expensive as compared to this particular brand’s products. This is the point where the lifestyle of boAt was brought into revolution. The Indian based startup venture boAt has started to attract and fascinate customers with its affordable range of prices and the most stylish looks of the products.
Therefore in this case study, we will cover the successful and interesting drive of boAt lifestyle. In this context, we will also explain about their devices to know their catalogue extension and also will discuss the marketing performance and investors over the years.
The Idea behind the Brand
The brand BoAt lifestyle does not have a very common history. The boAt was a startup venture based in Delhi which was launched in the year 2016 by Sameer Mehta and Aman Gupta. The company portrays itself as a brand of lifestyle which includes fashionable consumer electronics. The only aim to start the brand boAt lifestyle was to bring the most important fashionable audio accessories products which have to be affordable and durable to millennials.
Currently, the company sells a huge variety of fashionable consumer electronics goods starting from speakers, earphones, headphones to premium cable and travel chargers. The company boAt is consistently extending its business and growing its services to millions of so-called ‘boAtheads’. The boAt has been starting its journey only for four years but the brand stands tall with over 800,000 happy and satisfied customers.
Investors & Marketing Performance of the boAt over the Years
The company boAt has just started its journey with the market of the audio product to sail in the deep sea. Like all other startup ventures, this brand also had to struggle in the initial days of the business. Sameer and Aman started their business by investing capital of around three million approximately.
The company received an investment of sixty million from the fireside ventures of Kanwaljit Singh in the year 2018. The investor was very much impressed with the founder’s ability to right targeting, the product quality and the ability to white spots. The company consistently started performing well in the market and also it has clocked over Rs 100 crores only in domestic sales. The company was started with two founders but now it has a team of thirty-five members and its office is located in two of the top metropolitan cities that is Delhi and Mumbai.
BoAt revenues started growing from Rs 27 crores in FY2017 to Rs 108 crores in FY2018. Thus it had a growth of three times more in a year. It is claimed by the young consumers of electronics that it sells more than six thousand units per day along with 4 units sold every minute. In FY2020 it crossed revenue of Rs 500 while in FY2019 it was Rs 239.44 crores.
In the initial stage of the business, the boAt used to sell its products and devices mainly through e-commerce platforms like Flipkart and Amazon. Curr the brand is available in five thousand retail stores associated with tweety distributors. The company has sold ten thousand units per day and 4 million units a year. The company claims that the boAt has served more than twenty million Indians as of now.
The Reason behind the Brand’s Success
For any startup, business success cannot be achieved with only one strategy. It needs to kink and connect numerous numbers of dots to draw a line. The company boAt has no exception in terms of the methods to reach its goal. Therefore the brand took a bit different approach from the start when they began to project themselves as a trending lifestyle brand and kept on improving and improving the process. There are various marketing strategies which make the company boAt on moving in the right path of success.
- Online Marketing
- Right Targeting
- Expanding Catalogue Continuously
- Showing It As A Lifestyle Brand
- First Consumer Approach And Improvisation
In the above case study, we have discussed the successful drive of the lifestyle brand boAt. They have just started with their business and captured the market but have still achieved a lot out of it. The highlight of the brand boAt lifestyle is that it serves durable products at a very affordable price and keeps it stylish as well. They have affected the market of the music audio device segment in such a way that big brands like JBL had to deliberately lower down the prices of their devices to compete with rival brand boAt. Technologies have made our life simpler and the smoother world we currently live in. The Indian based startup venture boAt has started to attract and fascinate customers with its affordable range of prices and the most stylish looks of the products. Thus, the brand boAt wants to stand at the forefront of the revolutionary change in the audio market segment. The company will not stop fetching more success, instead, it will embark on a great journey in future.
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