Introduction

Listening to good music is the best way to treat yourself and if the
device you are listening on is a boAt device, it is indeed icing on the
cake. Such has been the revolution of this lifestyle brand which
provides us affordable, stylish, and good quality consumer electronics. 
 
The brand offers us a range of products from an extensive catalog of
headphones, earphones, speakers, to travel chargers & premium
cables. There have been excellent brands in the market that offered a
great range of products but the problem with them was that they were
either very expensive or looked awful to the eyes. This is where the
boAt lifestyle brought-in the revolution. This India based startup has
managed to attract customers with its stylish products.
 
So, in this blog, we will be covering the small but interesting journey of
boAt Lifestyle. We will also learn about their products in brief to
understand the extension of their catalog. We will also look at their
investors and market performance over the years. 
So, to begin with, let us start with the minds and ideas behind this
startup. 
What was the idea behind boAt?

 boAt Lifestyle doesn’t boast of a very prevalent history. It is a Delhi-based

startup that was started in 2016 by Aman Gupta and Sameer Mehta. The
company term itself as a lifestyle brand that deals in fashionable
consumer electronics. boAt Lifestyle was started with the sole aim of
bringing affordable, durable, and more importantly, ‘fashionable’ audio
products and accessories to millennials. 
  
 Having started as a cable manufacturer and seller company, today, it has
expanded its catalog. Now it sells a wide variety of fashionable
electronic goods ranging from travel chargers and premium cables to
headphones, earphones, speakers. The company is steadily growing and
extending its services to millions of ‘boAtheads’ (A term the company
uses for all its consumers and brand ambassadors). It has been only four
years since the journey but the company stands tall with more than
800,000 happy customers.
Investors and market performance of the company over the
years

 boAt Lifestyle is a company that has just started to sail in the deep sea of audio
devices market. However, the numbers are promising for them as they continuously
rise amidst all the competition. The company struggled in its initial two years. Aman
and Sameer had started with a capital of around 3 million, coming from the two
founders. 
 
 In 2018, Kanwaljit Singh of Fireside Ventures invested 60 million in the

company. Singh was impressed with the founders’ ability to white spots, the product
quality, and right targeting. 
 
 The company is continuously performing in the market. It has clocked more than Rs

100 crore in domestic sales alone. From just two founders, the company is now a 35-
member team and has its offices in the top two metro cities- Mumbai and Delhi. 
 
 According to filings with the Registrar of Companies (RoC), boAt’s FY2018 revenues

grew to Rs 108 crore from only Rs 27 crore in FY2017. That is more than three times
growth year on year. The young consumer electronics player claims that it now sells
over 6,000 units per day with four units sold every minute. 
 
 It also adds one boAthead to its family every three minutes. boAt is now projecting

sales of Rs 500 crore over the next five years. boAt audio was ranked as the leading
brand in the ear wear segment, as per the market data released by leading IT market
research and advisory firm International Data Corporation (IDC).
 
 In 2019, boAt audio was the leading brand with a 27.3 percent market share in the ear

wear category. 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. 
 
 In its initial days, boAt sold its products mainly on e-commerce platforms- Amazon

and Flipkart. Today, the company is present in 5,000 retail stores, supported by 20
distributors. The company claims to be selling 10,000 units a day and four million
units per year. It says it has served more than 20 million Indians till now.   
 

 (Referred blog: The journey of Dream 11- The Title Sponsors of IPL 2020)
Reasons behind their success
 

 There is no single mantra for success. It

requires connecting several dots to form
a line. boAt is no exception in the terms of
the process. However, they modified their
approach from the beginning when they
projected themselves as a lifestyle brand
and kept on improvising. There are
several factors that put boAt on the road
to success. So, let’s discuss them. 
 Consumer-first approach and

improvisations 
 Portrayal as a lifestyle brand

 Continuously expanding catalog 

4. Right targeting
  Online marketing
 Conclusion
We have almost covered the small journey of this lifestyle brand. They have just entered the market but have already acquired a fig percentage of it. boAt
lifestyle offers stylish as well as durable products which has been the highlight. Their effect on the market has been so much that the popularity of products
of boAt has forced big giants like JBL to lower down the prices of their products to compete in the affordable audio segment. It is interesting because, as
mentioned above in the blog, Aman was a former employee at JBL. 
 
Technology has made our lives better and it is the biggest enabler in the world we live in right now. boAt Lifestyle wants to be at the forefront of the changes
in the audio market. The brand doesn’t seem to stop but rather embark on a great journey ahead. CEO Aman Gupta in  an interview said he is hopeful to come
out of the pandemic strongly and regain the momentum.