- Boat Audio had captured 27.3 market share in the earwear category in 2019
- These figures were highlighted in a recent report published by International Data Corporation in 2020
Boat audio has been ranked as the leading brand in the earwear segment, as per the latest market data released by leading IT market research and advisory firm International Data Corporation (IDC). The brand said that it has created a community of over two million consumers.
“We are overwhelmed and humbled at the same time. This recognition is a testament to our irrevocable decree of commitment to offer aesthetically & ergonomically designed future-ready products at a fitting price point in a competitive environment,” stated Aman Gupta, co-founder, Boat audio.
Boat sells 8,000 to 10,000 units every day
The brand informed that it sells 8,000 to 10,000 units of earwear every day. It is to be noted here that Sachin Bansal’s investment firm had committed Rs 20 crore as venture debt for the company in 2019. Boat had also raised Rs 60 million from Fireside Ventures in May 2018.
“Venture Debt helps us keep the capital structure intact. BoAt’s financial performance has been strong since inception. Our efficient and lean business model coupled with targeted business insights have allowed the brand to enjoy logical margins so that we can earn money and not burn money,” Boat co-founder Aman Gupta had earlier explained through a statement.
The company had generated Rs 100 crore in revenue in 2017-18. Boat was founded in 2016 by Aman Gupta and Sameer Mehta. Its offices are located in Delhi and Mumbai.