boAt Appoints Vivek Gambhir as Chairman, Mehta as CEO

On 14th March 2024, boAt announced the promotion of CEO Vivek Gambhir to the position of Chairman in the company. The Co-founder, Sameer Mehta will be taking the role of CEO in place of Vivek Gambhir. In his new role, Vivek Gambhir will guide the company’s leadership team on strategy, organization development, and future growth. He will also be working closely with Sameer Mehta at the forefront of business and social development to help the company scale up and create value.

Who is Vivek Gambhir?

Vivek Gambhir joined boAt in February 2021 as the CEO of boAt Lifestyle before getting promoted to the Chairman of the Board. Previously, he held the MD and CEO position at Godrej Consumer Products. He has also served as a member of the Board of Directors of Metropolis Healthcare, Honasa Consumer Limited, and Magicpin. At present, he acts as the venture partner of Lightspeed India.

Who is Sameer Mehta?

Sameer Mehta is the Co-founder of Imagine Marketing Private Limited, the parent company of boAt. His prior experience includes owning Redwood Interactive from 2007 to 2015, followed by his role as the Executive Director at Kores (India) Ltd.

What do Vivek Gambhir and Sameer Mehta have to say about their new roles?

As the newly appointed Charmain, Vivek Gambhir said, “It is a matter of great pride that a brand born in India is now among the top brands in the world. And I am excited about the next phase of Boat, under the co-founders’ visionary leadership.”

While Sameer Mehta, the Co-founder and CEO of boAt quoted “We have scaled up tremendously over the last several years and it has been amazing to have Vivek as a valued partner in our growth journey. We are deeply grateful to Vivek for his partnership, inspirational leadership, strong values, and friendship. And we look forward to his continued support as we chart the next phase of our transformation.”

How can Vivek and Sameer together change the growth trajectory of BoAt?

Together, the collaborative efforts of Vivek Gambhir and Sameer Mehta will propel boAt to new heights. Through its strategic vision and leadership, boAt will expand its market presence and diversify its product offerings. The company is also looking at enhancing its brand reputation to stay ahead of the competition. Vivek Gambhir and Sameer Mehta will guide the company’s development in its next phase.

What does Aman Gupta have to say about it?

On the new developments, Founder Aman Gupta said, “We are incredibly thankful to Vivek for his friendship and partnership over the last several years. Boat today is in a much stronger position, and we firmly believe that our best days are ahead of us.”

What is the future of boAt?

boAt has become a leading player in the wearable electronics industry. The company has scaled up tremendously over the years since its launch in 2016.

Earlier in 2022, the company had filed a draft red herring prospectus (DRHP) with the Securities Exchange Board of India (SEBI) for Rs. 2000 Crore IPO. However, the company withdrew its DRHP. As per the founder, Aman Gupta, boAt is looking at FY25-26 for the IPO launch. Under the leadership of Vivek Gambhir and Sameer Mehta, the company plans to emerge as a consumer-tech powerhouse that is admired globally.

The future goal of boAt is to become an industry leader across multiple product segments across countries and create excellent shareholder value and boost boat valuation. Currently, the startup is well-capitalized and enjoy the status of the number two player globally in the earwear category. In the future, boAt plans to implement its headphone segment strategies in the smartwatch category as well.

Interested in buying boAt’s shares?

As the company continues to expand and innovate, the early investors can see substantial returns on their investment. Investing in boat unlisted shares can provide an opportunity to participate in the company's growth story before it potentially goes public. Currently, boat share price is Rs. 1455 in the unlisted market. Stockify offers a reliable platform for purchasing and selling unlisted shares in India.