576 percent year-on-year (YoY) growth was seen in this quarter, with the top five models list for shipment hotspots during the March quarter, contributing to almost 50 percent of the shipments of the top 5 models.
The boAt has continued to dominate the wearables (True Wireless Stereo) market in India during the period between January-March 2021, with a 28 percent market share. The boAt is a Delhi-based headphones and audio products brand. “A key USP for boAt is providing justified value. The BoAt provided a connection to premium brands – with accessible high-tech features to the “average” Indian”.
Aman Gupta and Sameer Mehta founded the brand boat in the year 2016 which had a 37 percent market share in the Indian personal audio products market in 2020, as per Kalagato, with Realme at second spot with 8 percent share.
For consistency in growth, the company has a developed marketing tactic and with the designer Masaba on board, who was in the event “Lakme Fashion Week” it developed a brand-new colorful design for headphones.
“Lakme Fashion Week is the Mecca of fashion in India and as a lifestyle brand, which makes it an ideal platform to partner and showcases the authority when it comes to stylish consumer electronic products,” Gupta said in an interview to BW Disrupt.
To sustain its products, boAt also signed various Bollywood stars and cricketers and partnered with six Indian Premier League (IPL) teams, helping further its presence in the market.
The company raised $100 million for the month of January 2021 in a funding round led by private equity firm Warburg Pincus.
Moreover, the company is wondering about the “delinking” from China and bringing manufacturing to India.
One Plus was at a distant second spot, with a 13 percent market share.
Kalagato, the five-year-old company is providing affordable quality products while growing. Aman Kumar is the Co-founder and head of the business of Kalagato.