Abstract
boAt is an Indian-based consumer electronics business that sells earbuds, headphones stereos, portable chargers and luxury tough cables. It was founded in 2015. The co-founders Sameer Ashok Mehta and Aman Gupta founded Imagine Marketing Services Private Limited, in November 2013 which does business as boAt. The company has emerged as one of the prominent home-grown D2C brands that challenged market leaders in the earphones and wearable space. Overall, the company’s total annual profits surged nearly 61% to Rs 78.6 crore (INR 786 million) during FY21 from Rs 48.8 crore (INR 488 million) during FY20. The company’s success continued into FY22, where its revenue soared to 28.86 billion, accompanied by a profit (after tax) of ₹79 crore (INR 790 million). boAt’s remarkable performance in the consumer electronics market made it a notable player in the industry. In the fiscal year 2021–2022, boAt had set a revenue target of 500 crore (INR 5 billion). It was then the responsibility of the managing director, Aman Gupta, and his team to devise a strategic plan to achieve this goal. They faced the challenge of addressing potential issues anticipated by the team. Aman and his staff were particularly concerned with the corporate plan to offset the declining return on equity. They also had to formulate marketing strategies aimed at ensuring future sustainable growth for the company. This case study offered valuable insights into the changing landscape of India’s consumer device market and the strategies implemented by boAt’s management for successful navigation in the industry.
Keywords
Get full access to this article
View all access options for this article.