How Does boAt Make Money: Business Model Explained

Emerging as a winner in the race of the best earphones and wearables segment, boAthas captured a significant market share in the mid-range segment and has been on the growth trail ever since. The boat has used different marketing strategies and has bagged good returns not only in the financial and business sector, but Boat’s unlisted share has also been a good performer in the grey market. Let us overview boAt and its business plan sailing the company through the markets. 

The Homegrown Showstopper’s Business Model Decoded 

The company has gone through leaps and bounds to stand as a sole player in the audio device markets and be the flagbearer of homegrown audio devices and wearable brands. The following section will explain how boAt became a successful brand growing nationally and internationally. 

What Led To The Rise Of Boat

Aman Gupta and Sameer Mehta, in 2013, came up with the idea of establishing boAt, but it gained significant popularity in 2016. The reason was the launch of the latest “AirPods”, which gave its competitors a new product to recreate. On top of that, the launch of 4G services by  Jio made the internet more accessible, and people’s screen time substantially rose, and so did the demand for earphones. Along with these developments, mobile companies stopped shipping earphones along with smartphones after the rising dominance of wireless earphones. All this laid ground for the rise of a new segment in the wearables market, leading to the groundbreaking success of boAtalong with a push to the boAtstock price, making it grow in the financial market as well. 

boAt Tapping The “Undiscovered” Market 

A thread that connected the final dots in the growth journey of the audio device company is its exploration into the new market. boAt tapped into a new market segment and carved out a niche for itself. 

The earphone market was already saturated with major players like Apple and Bose, which targeted the premium segment. These companies fully catered to the demands of the upper premium market section. Priced a little higher, the products were good in quality and optimum in style. 

The next segment targeted the section of customers who preferred “cheaper” speakers and earphones and were not willing to invest much in them. This section was covered by the local players that offered cheap and affordable earphones. 

This is where boAt comes into the picture. It identified a segment of the market that wanted affordable yet quality products, and it grabbed the opportunity. boAt identified the loophole and targeted only the “economic” range of the market. 

In the segment, boAtwas not only the major player. Other earphone brands like Bolt and Mivi also entered the market but gained less popularity than Boat. These brands could not beat Boat, which led to its growth as a leader in the domestic market, and Boat’s unlisted share price took the unlisted share market by storm. 

Why Did boAtEmerge As The Leading Brand? 

boAtemerged as the sole leader of the domestic earphone category in the “economical price range” and captured a significant share in the TWS (truly wireless stereo) market. What led to the rise of boAt in the market was the efficient use of “celebrity endorsement”. The boAt resorted to Hardik Pandya to endorse the products, which created hype among the users and made the products stand out by building an aspirational value for the brand. 

Not only “celebrity endorsements” but collaborations with different brands have also increased the value of boAtunlisted shares. The company partnered with the leading designer Masaba to launch a “limited edition” headphone ahead of the fashion week. Even more,  the homegrown earphone brand has also partnered with Bira91 to launch “Boom”, a limited edition of audio devices. 

Is boAt Only Dependent On Marketing? 

Do you think boAt was only hyped due to its celebrity endorsements and collaboration game? Certainly not; the quality of the audio devices produced by the company is impeccable, which made the company sustain its popularity. The “boAt Stone”, one of the best speakers in the market, has claimed success, not by the aid of marketing, but due to the audio and product build quality. So, it is not only the marketing and advertising that made boAt popular, but the quality of the products also played a significant role in making boAt the leading market player, along with making it a lucrative option for the shareholders to invest in. Investors are ready to buy unlisted shares and generate good ROI. 

Did The Business Model Turn Profitable? 

The company has gained substantial growth in terms of profits little after it entered the market. Over the years, the company has been through crests and troughs but has been on a general uptrend ever since its inception. Not only in terms of financial reports, but Boat’s unlisted shares have also been generating positive hopes among investors to bet on the company. The boAt’s unlisted share price today is recorded to be Rs.785 per share equity. 

Frequently Asked Questions:

Is it legal to buy boAt unlisted shares in India? 

Buying boAtunlisted shares is legal in India. You can visit online platforms like Stockify to buy and sell unlisted shares. 

Where can I buy boAtunlisted shares? 

Stockify is one of the best platforms where you can buy boAtunlisted shares under the professionals’ guidance. 

What is the boAt share price today? 

The price of unlisted shares is subject to market fluctuations and hence changes often. Currently, the Boat’s stock price is Rs. 785. For the latest updates in the prices, you can visit Stockify. 

What is the issue size of the boAt IPO? 

The boAt is planning to launch its IPO with an issue size of Rs. 2,000 crore. 

Is it profitable to invest in boAt unlisted shares? 

boAt is a trusted company performing well financially, so the boAt unlisted share is expected to perform well in the grey market. It is still advised to consult an expert before trading. You can visit Stockify & connect with the experts.

Table of Contents

Sailing through the storms, boAt emerged successfully due to its full-proof business model and marketing strategies.


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Piyush Jhunjhunwala
Piyush Jhunjhunwala
CA, CPA, Ex. PepsiCo, Reckitt, Coty
CEO & Founder
Dubai, UAE.
Rahul Khatuwala
Rahul Khatuwala
Ex. Wipro & Finaco Founder
Bangalore, India.