boAt, an audio equipment and electronic gadgets manufactured company, founded by Aman Gupta and Sameer Mehta. Back in 2016, boAt was established in Haryana with the vision of making a lifestyle brand, that enhances the quality of life through audio and wearables.
Boat’s success story began when Aman found a significant gap, noticing that many people are struggling with the durability of audio equipment and electronic gadgets.
BoAt comes under both the Indian electronic market and the audio industry. And according to a report by ibef.org, the headset market in India is booming and is projected to grow and become $77 million US dollars by the year 2027, at a CAGR of 4.7 percent, owing to increased consumer usage of wireless headphones.
By 2025, the appliance and consumer electronics sector is predicted to quadruple to Rs. 1.48 lakh crore (US$ 21.18 billion). According to the Retailers Association of India (RAI), sales of consumer electronics and appliances climbed by 23.5 percent in the third quarter of FY21 compared to the same period the previous fiscal year.
The country’s electronic hardware output climbed from Rs. 4.43 trillion (US$ 72.38 billion) in FY19 to Rs. 5.47 trillion (US$ 89.38 billion) in FY20. India’s demand for electronic devices is estimated to exceed $400 billion by FY24.
The consumer digital economy in India is expected to reach US$ 800 billion by 2030, up from US$ 85-90 billion in CY20, owing to an increase in online purchasing.
boAt: India’s largest wearable brand
boAt is a consumer electronics brand, founded by Aman Gupta and Sameer Mehta in 2016. It offers affordable, durable, and fashionable electronic gadgets and audio-centric devices, like wireless speakers, earbuds, wired and wireless headphones, earphones, and many other technological accessories.
Know more about Wearables Startups in India for 2025.
boAt’s Business Model & Strategy:
boAt’s business model completely focuses on what their customer wants. boAt works with a D2C model and makes sure that its goods are affordable and durable. boAt’s team has been prepared in such a manner that they devote themselves to business by reading human behavior. They focus on developing a customer-brand relationship and creating products that are fashionable and affordable for Indians.
boAt’s Growth:
Over the last years, boAt is one of the fastest-growing companies in the electronic and audio industries. As a result, this Rs 10,500 crore-worth company has flourished in the sector, rising from Rs 704 crore in FY20 to Rs 1531 crore . in 21. In FY21, boAt’s revenue from operations was Rs 1511.7 Cr., while its other income was Rs 19.57 Cr. During FY21, boAT’s EBITA was reported to be Rs 1271.1 Cr.
boAt’s Future Plan:
With the goal of providing affordable and durable electronic gadgets, boAt is currently aiming to produce more and more items. He wants to help Indians in obtaining all of the high-quality technology equipment.
Looking to the future, boAt aims to strengthen its position as a leader in this electronic gadgets industry. He states, “ Har industry ka ek gunda hota h, aur is industry ka gunda mai hu.”
Aman Gupta Founder of boAt
Aman Gupta is an Indian entrepreneur, angel investor judge, and an investor in Sony TV’s business reality show, Shark Tank India. How empowering looking at this journey as much as this was challenging. Around 15 years have been to this journey, from CA to entrepreneur, in which he struggled with a challenging journey with a Rs 10,500 crore-worth company.
Aman Gupta’s Early Life & Education:
Aman Gupta was born on March 4, 1982, in Delhi. He completed his schooling at the prestigious Delhi Public School (DPS) R.K. Puram. Later, he graduated in a B.com course at Shaheed Bhagat Singh College, Delhi University. Aman was encouraged by his father. In 2002, at the age of 20, he completed his CA qualification, but he was not happy with what he was doing. This was the point from where his challenging and learning journey had started.
Aman Gupta’s Family:
He comes from a middle-class family, where his father is Neeraj Gupta and his mother is Jyoti Kochar, a housewife. Priya Dagar is Aman Gupta’s wife, and he has two daughters, Mia Gupta and Adaa Gupta.
Aman Gupta’s CA to Entrepreneurial Journey:
After completing his chartered accounting qualification, Aman began his professional career, working at Citibanks, where he served as an assistant manager from 2002 to 2005. During this time, he felt like something was missing in life and wanted to do something big and interesting, but he was unable to find that one.
In September 2005, he embarked on his entrepreneurial journey by co-founding Advanced Telemedia Pvt. Ltd. with his father, playing the role of CEO. But this business was not as successful as they thought because they had to face many challenges. During this challenging period, Aman Gupta found himself unable to address the issues at hand. Identifying this weakness, he made the decision to enhance his skills by pursuing further studies.
At the age of 29, he enrolled in the Indian School of Business’s MBA program, specializing in finance and strategy, in 2010. As part of his studies, he also participated in an exchange program at the studies. He also participated in an exchange program at the Kellogg Graduate School of Management, where he focused on general management marketing.
Following his MBA, Aman gained insightful experience in the field of consulting and sales. He worked as a senior management consultant to KPMG from 2011 to 2012, followed by director of sales at HAPMAN International from 2012 to 2013.
He worked for around 2 years, and he again got bored, so he quit his job and sat at home. Aman had always had a desire in his heart to do something different. This time, he found a gap in the audio industry and decided to change the game, turning this gap into an opportunity. In 2016, Aman embarked on his entrepreneurial journey, launching his startup, boAt.
Challenges faced by Aman Gupta:
Most of the BoAt products are made in China with third-party manufacturers, and in 2020, due to the India-China dispute and COVID-19, the companies are facing many issues in importing the products from China. So to solve this issue, under the PLI scheme, they have set up a 50:50 joint venture with Dixon Technologies to manufacture some boAt products in India.
But even this will not resolve the issue in the short term as it is costly to manufacture in India, and even by 2024, around 50% of the BoAt products will be made in China.
Aman also faced challenges during the journey of entrepreneurship and took them as learning. Finally, he embarked on his new chapter, launching boAt.
