Imagine Marketing Ltd is preparing for an Rs. 1100 Crore of IPO and awaiting the exchange board’s approval. Meanwhile, it is planning to upscale its manufacturing to target overseas markets. boAt has a considerable presence in domestic mobile phone accessories and wearables market. Now the brand is focussing on the global markets to become an Indian global lifestyle brand.
Therefore, boAt has developed a marketing strategy to expand its manufacturing units. However, before we dive into the expansion details, let us understand boAt’s position in the domestic market.
Where Does boAt Stand In Indian Wearables & Mobile Accessories Market?
boAt retains a leading position in the Indian wearable market with a 32.1 percent dominance. The brand is the largest earphones and smartwatch manufacturer and seller in India. The Indian wearable market is expanding, and more smartwatches are being sold every quarter. E.g. the third quarter of FY2022 saw a 56.4 YoY growth in the number of wearables manufactured. In all the categories, smartwatches are the fastest-growing trend in India.
Moreover, the user preference is aligned toward the better display, larger screen, e-sim features, and better connectivity. Therefore, it has been challenging to accommodate the quality preference in the affordable budget price range. This gives way for established flagship foreign brands like Samsung, One Plus, and Apple to set their foothold in the Indian wearables market. Although a significant percentage of users prefer Apple, Samsung, and One Plus, boAt maintains a leading position in the Indian wearables market. Other prominent manufacturers in this industry are Fire – Boltt, Noise and Realme.
boAt Has A Leading Position In The World As Well
boAt is registered as a business under its parent company, Imagine Marketing Ltd. Manufacturing, selling, and shipping a large number of earphones and smartwatches has made Imagine Marketing Ltd one of the largest brands in global wearables. boAt (Imagine Marketing Ltd) now holds the spot in the world’s top five biggest wearable brands. India’s huge population and user base have allowed boAt to gain a top spot in the world after it dominated one-third of the Indian market.
How Likely boAt To Succeed In The World Stage?
After achieving dominance in India, a lifestyle giant would naturally seek hegemony at the global level. When an Indian brand is tested internationally, would learning of the Indian wearable market prove crucial? An Indian brand would have the following challenges and opportunities when it tries its hands in a foreign market.
- The Indian wearable market is a cosmopolitan hub and invites global players like Apple and Samsung. Therefore, Indian brands would already have competitive experience with these brands and know how to compete worldwide.
- The market size of the Indian wearable industry is quite large, providing enough expertise and learning opportunities for Indian brands. These learnings and marketing strategies would also help them in their ventures overseas.
- However, competing with the credibility and brand image of flagship brands like Apple and Samsung will be a challenge for the boAt. In global market, where people are ready to pay more for wearables, elevating the quality wouldn’t be a problem. boAt still have a chance to cater the needs of customers while keeping the products affordable.
The Plans To Reach Overseas Market
“We are humbled, overwhelmed with the confidence and support entrusted by boAtheads over the years. It is a moment of pride for all Indians as it validates the growing acceptance of home-grown brands globally. With the support of our Govt. we will aim to become a global lifestyle brand. We at boAt understand the requirement of millennials and will continue doing what we do best to serve the community of boAtheads”
- Co-founder, Aman Gupta
After a victory in the home ground, the focus now is the global market. The co-founder has confirmed that Imagine Marketing Ltd, boAt’s parent, is planning to become a global lifestyle brand. Therefore, now the company has decided to ramp up its manufacturing units.
- boAt will be manufacturing double the total amount of wearables it manufactures. Therefore, it is expected to produce 60 lakhs units, compared to 30 lakhs.
- The company is awaiting approval from the Securities And Exchange Board Of India for floating an IPO of Rs. 1100 crores.
How Would The Expansion Affect boAt Pre-IPO Shares?
A good performance in the global market will bring more engagement for boAt and increase the demand for its shares. Therefore, a successful expansion will likely increase the investments and demand for boAt stock price. However, seeing how boAt fairs out in international markets will be interesting.
Regardless, boAt’s key position in the Indian market has made it one of the top performing unlisted stocks. Therefore, boAt pre-IPO shares are the best choice for retail investors seeking multi-bagger investment opportunities. Buy boAt unlisted shares on our platform, where you can also check boAt stock price. Stockify is India’s most reliable platform for trading pre-IPO stocks.
Frequently Asked Questions About boAt Unlisted Stocks
- Which is the parent company of boAt?
boAt is registered as a business under its parent company, Imagine Marketing Ltd. Manufacturing, selling, and shipping a large number of earphones and smartwatches has made Imagine Marketing Ltd one of the largest brands in global wearables.
- Who owns shares in boAt company?
Many shareholders hold boAt unlisted shares with some prominent names, including Sameer Gupta, Aman Gupta, and South Lake.
- What is the name of boAt company in share market?
boAt is both popular as Imagine Marketing Ltd and boAt in share marketing.
- Who is the largest shareholder of boAt?
Aman Gupta and Sameer Mehta hold the top spot for their shares in boAt unlisted stocks, each owning 40 percent.
- Is boAt a profit-making company?
boAt is a profitable company that is expanding in the global market. If you are looking for profit making company to invest in, boAt unlisted shares are your best bet. Explore more top-performing stocks on Stockify.