(i) BoAt ("Imagine Marketing Services Pvt. Ltd.") is an India-based company that was incorporated in November 2013. BoAt markets earphones, headphones stereos, travel chargers, and premium rugged cables.

(ii) BoAt was co-founded by Aman Gupta and Sameer Ashok Mehta. And, the notable products of Boat Unlisted Shares are mentioned below. 

a) Wireless earbuds

b) Tethered wireless earbuds

c) Wireless headphones

d) Wired headphones and earbuds

e) Smart watches

f) Portable wireless speakers

g) Home audio equipment

h) Mobile accessories

g) Special editions: BoAt promotes its products through a combination of influencer marketing and brand tie-ins with sports teams and public events. BoAt calls its brand influencers "BoAtheads." Its brand influencers include Indian singers like Neha Kakkar and rapper Naved Shaikh (also known as Naezy), as well as athletes like cricketers Hardik Pandya and Shreyas Iyer, among others.

The company has done brand tie-ins with sports franchises like cricket teams Chennai Super Kings and the Mumbai Indians. Additionally, BoAt has co-branded its audio devices with music events like Sunburn Festival and other large-scale events like the Lakmé Fashion Week.

(iii) As of September 30, 2021, for the second quarter of Financial Year 2022, Boat ranked #1 in India among the wireless hearables brands by value and volume and #2 among smartwatch brands in India in terms of volume (Source: RedSeer Report). Moreover, Boat market share in both wireless hearables and smartwatch segments has consistently increased over time, and for the quarter ended September 30, 2021, they had a market share of 48% and 23% in terms of volume, and 30% and 13% by value, in the branded wireless hearables and smartwatch markets, respectively (Source: RedSeer Report).

(iv) Portfolio of Boat

   
(v) Online Vs Offline Sales


Most of the boat unlisted share sales comes from Online Marketplaces such as Amazon and Flipkart. Almost 85% sales comes from these channels. So, Boat today is totally dependent on Amazon and Flipkart marketplace to sell its products. And, this is the biggest risk too in the business. However, having said that Boat is also focussing on increasing sales via omni-channel and offline presence. As of September 30, 2021, Boat products were available for sale in over 23,000 retail stores across India, and facilitated by a retail network of over 51 distributors and more than 180 sub-distributors in India, with a presence in over 32 states and Union Territories.

(vi) Expansion Strategy by Boat Boat is currently exploring opportunities in overseas markets, which company believes can be a compelling growth vector for them. As part of the growth initiatives, Boat seeks to leverage the established presence of online marketplaces with whom they  work in the overseas markets. The overseas expansion efforts are focused in international markets such as the United Arab Emirates, Nepal and countries in the South East Asia region, which Boat unlisted share believe have a large Indian diaspora and/or a population with similar tastes and preferences as the audience in India.

(vii) Industry Analysis According to the RedSeer Report, the hearables market has grown from approximately ₹99 billion in 2018 to ₹170 billion in 2020, at a CAGR of approximately 31%.Hearables are expected to grow between 25% to 35% in terms of CAGR in the next 5 years and is projected to reach between ₹515 billion and ₹765 billion by 2025. The RedSeer Report also states that the wearables market has grown from ₹16 billion in 2018 to ₹32 billion in 2020, at a CAGR of approximately 39%. The wearables market in India is projected to grow at a CAGR of between 40% and 55% in the next 5 years and is projected to reach between ₹170 billion and ₹275 billion by 2025. So, huge growth opportunities are available for the company to tap.