The famous D2C company boAt has set up a mergers and acquisitions arm for the purpose of acquiring national and international startups in the consumer tech space. The duty of the arm is to scout for strategic acquisition targets both in India and overseas.
boAt lifestyle is a consumer electronics brand launched in 2014 by Aman Gupta and Sameer Mehta. The company makes all sorts of consumer electronics like wireless earphones and headphones, wired earphones and headphones, smart watches, speakers, etc. The company has achieved several achievements as they have become one of the largest consumer electronics brand in the country.
The company was able to take a spot in the top 5 consumer wearables brand in 2021. It shipped around 26.8 million units, significantly lower than Apple (161.8 million units), but saw a 164% YoY growth. In 2020, boAt recorded a growth of only 2.3%. The company employs a high-value, low cost strategy which brings excellent results.
Imagine Marketing, the parent company of the boAt brand, has filed its DRHP with market regulator SEBI in January to raise Rs 2,000 crores from the public market and is currently awaiting approval. In other news, boAt co-founder Aman Gupta invested in Licious, an online meat and seafood seller, alongside several big names like founders of Zerodha, True North partner Haresh Chawla, Kotak PE and Axis Growth Avenues AIFI.
Highlight by Aman Agarwal.