Type- Private. Industry- Lifestyle Electronics Devices. Category- Manufacturing. Founded- Nov 2003. Headquarters- Mumbai, India Area served- India. Key people- Sameer Mehta, Aman Gupta. Products- Headphones, Earphones, Speakers, Mobile Cable, etc Revenue- 704 Cr ( 2020 Year) Number of employees- Website- https://www.boat-lifestyle.com
BoAt Audio Company.
Industry- Lifestyle Electronics Devices.
Founded- Nov 2003.
Headquarters- Mumbai, India
Area served- India.
Key people- Sameer Mehta, Aman Gupta.
Products- Headphones, Earphones, Speakers, Mobile Cable, etc
Revenue- 704 Cr ( 2020 Year)
Number of employees-
Boat Lifestyle, an Indian-based consumer electronics company headquartered in Mumbai, Maharashtra, has rapidly emerged as a prominent player in the world of audio devices and accessories. Founded in 2013 by Sameer Mehta and Aman Gupta, Boat initially started as Imagine Marketing Private Limited. The company’s mission was clear: to provide high-quality, fashionable electronic consumer products to the Indian market, which at the time had limited options for headphones and similar devices.
A Journey of Innovation
Boat Lifestyle officially established itself in 2015, focusing on distributing stylish and trendsetting consumer electronics. Their product catalog boasts a wide range of audio devices, including headphones, earphones, speakers, smartwatches, charger cables, and more. Notably, Boat’s earphones and headsets have garnered immense popularity among the fashion-conscious young adult demographic.
As of the current fiscal year 2021, Boat Lifestyle continues to make waves as the fifth-largest wearable brand globally, competing head-to-head with industry giants such as JBL, Samsung, Sony, Realme, Bose, and OnePlus in India.
Boat prides itself on designing and marketing a diverse array of audio devices, encompassing wireless earbuds, wired headphones, Bluetooth headsets, wireless speakers, home audio equipment, and mobile phone accessories. Their products are available both in retail stores and on popular e-commerce platforms like Flipkart, Myntra, and Amazon.
Under the Boat Rockers and Nirvana brand names, the company distributes wireless headphones, while their popular Boat Earbuds are offered under the Airdopes brand. Boat’s home audio offerings include soundbars and subwoofers tailored to complement televisions and home theater systems, featuring multiple input options like Bluetooth, USB-A, and auxiliary cables.
Celebrity Endorsements and Brand Collaborations
Boat Lifestyle leaves no stone unturned when it comes to marketing and promotion. They have successfully harnessed the power of social media and advertising campaigns to engage their target audience, primarily the 18-plus demographic. The company refers to its influencers as “BoatHeads,” including Bollywood celebrities such as Jacqueline Fernandez, Kartik Aaryan, Parineeti Chopra, and singers like Neha Kakkar. Renowned athletes like Hardik Pandya, Rohit Sharma, Shreyas Iyer, and Shikhar Dhawan have also joined the BoatHeads roster.
Furthermore, Boat Lifestyle has established brand tie-ups with popular sports franchises like IPL cricket teams CSK and MI. They have co-branded their audio devices with prominent music events such as the Sunburn Festival and Lakme Fashion Week.
Funding and IPO Aspirations
In a significant development, Boat Lifestyle secured a funding of Rs. 50 crore from Qualcomm Ventures, a leader in wireless technologies. This investment is set to bolster the company’s brand marketing efforts and target the next generation of consumers who are drawn to Boat devices. It also signifies Boat’s commitment to growth and innovation, with plans to expand research and development capabilities and manufacturing facilities in India in collaboration with Qualcomm.
Looking ahead, Boat Lifestyle is gearing up for an ambitious initial public offering (IPO) to raise approximately Rs. 3,000-3,500 crore, valuing the company at Rs. 11,000 crore (approximately $1.5 billion). This move follows their impressive revenue generation of Rs. 700 crore for the fiscal year 2020.
Boat Lifestyle’s journey from a visionary idea to becoming a leading player in the Indian consumer electronics market is a testament to innovation, quality, and strategic marketing. With a diverse product range, celebrity endorsements, and collaborations with major brands and events, Boat continues to chart a course for success, offering trendsetting audio devices to consumers across India and beyond.