Homegrown Boult aims Rs 1,000 crore in revenue this fiscal year: Co-founder
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Homegrown wearable brand Boult has clocked a turnover of Rs 750 crore in FY24 and audio products accounted for 75 per cent of its revenue, the company’s co-founder Varun Gupta said on Friday.
In the past quarter, “we've experienced significant momentum,” Gupta told IANS.
“We are setting ambitious revenue goals, aiming for a target of over Rs 1,000 crore in the coming fiscal year,” he added.
The company executive said that the journey has been characterised by bootstrapped growth and profitability from day one.
Within just two years of inception, the company grew its customer base to over 1 million users.
After seven years, it has a customer base of more than 25 million.
“Within seven years, we have achieved more than 11 per cent market share among our competitors,” said Gupta.
Overall, in the Indian wearable market, “we rank as the fifth largest player with over 7 per cent market share and have experienced a growth of more than 130 per cent in the last year,” he added.
The company on Friday introduced its first soundbar called ‘BassBox SoundBars’. The ‘BassBox X120’ will be available at a launch price of Rs 4,999 and the 'BassBox X180' at Rs 5,999.
It is equipped with Bluetooth version 5.3, AUX, USB, Optical, and HDMI connectivity options, and integrates with a wide range of devices, including smart TVs, computers and mobiles.
“We are confident that through strategic category expansion and a continued emphasis on retail expansion into real Bharat that is the tier 2, 3 and 4 cities, we will be able to deliver innovative and high-quality products to a wider audience,” Gupta told IANS.
