Smart wearables and hearables maker Boult recently branded itself as GOBOULT. Co-founder Varun Gupta, in an interaction with S Shanthi, explains the reasons behind the move, the company’s AI-first approach, offline and international push, revenue goals, and IPO roadmap. Excerpts:
Q. You have recently re-branded to GOBOULT. Why now?
We have been around for eight years and the business has grown steadily. But we want to move upwards and onwards. The category expanded rapidly in the last five years, but prices dipped and now growth is flattening. Consumers are seeking a premium experience, and we want to lead that shift. When we launched products with Mustang and our Klarity professional series, the premiumisation strategy was validated. At the same time, we want to carry forward the credibility Boult has built. We have sold over 30 million products and have strong market presence. Instead of discarding the old, we are making them cooler and aspirational. This re-branding, with a new logo and identity as GOBOULT, reflects a complete DNA shift.
ALSO READAshok Leyland forays into battery manufacturing with Rs 5,000 crore investment Q. Besides premiumisation, what else is changing?
At the corporate level, we are evolving into an AI-first, futuristic tech company in the wearables space. We are preparing for an IPO in 18 months. To enable this, we are investing over Rs 25 crore in R&D this year, scaling our in-house manufacturing and expanding both offline and international presence. This requires a fresh brand perception, inside and out. We are also rolling out our biggest-ever marketing campaign to tell this new story.
Q. What’s the plan for offline expansion?
We launched offline just a year ago. Today, about 30% of sales in our category come from offline channels, which can potentially add Rs 500 crore to our topline. Omnichannel presence builds credibility and accessibility. We are already in 3,000-plus stores, contributing 5% of revenue. Over the next 18 months, we aim to be in 30,000-plus stores through modern trade and general trade. Currently, we are in 1,000 modern trade outlets like Croma, Reliance, Vijay Sales and Sangeetha, and 2,000 general trade stores. There are over 100,000 smartphone counters in the country, and we want to reach 30% penetration there. Interestingly, many retailers are already buying our products informally from e-commerce due to lack of supply.
» Read More
