Latest news with #VarunGupta
Hans India
a day ago
- Business
- Hans India
Boult Rolls Out Bold New Identity ‘GOBOULT' to fuel Premium Play, Targets 1000cr Goal this year, 10x Retail Expansion, and Global Push
The digital-first consumers of today live fast, think forward, and act without waiting for permission. They demand brands that move at their speed, and GOBOULT delivers on that momentum. The word "Go" signals a mindset shift, with speed, ambition, and transformation woven into the brand's DNA. And this transformation is extended across the entire business strategy, from product design and retail expansion to global positioning and consumer experience. The new brand logo features two symbolic elements: a screwhead and an arrow. The screw embodies inner strength, innovation, and precision, while the arrow signifies the addition of the word 'Go' in the brand, implying movement of the brand into building futuristic tech, and transformation. Together, they embody who GOBOULT is and where the brand is headed. Varun Gupta, the Co-founder of GOBOULT, shared, "Boult has always been more than a brand to me; it started as a passion project, something I built from scratch with heart, hustle, and belief and with GOBOULT, it's not just a new name; it's a personal milestone. We are changing the way we think, operate, and build. GOBOULT is a brand that aligns with and is prepared for the pace and personality of the next generation. The rebrand reflects our commitment to moving faster, thinking bigger, and taking Indian innovation global. For me, this is not just about keeping up with change but leading it. GOBOULT is a rebuild, a reboot, and a step toward creating a global Indian tech brand that's as bold as the youth we serve.' GOBOULT is advancing into the ₹2,000+ average selling price (ASP) segment, where it will provide a product portfolio that prioritises design and places a greater emphasis on wearables, fashion-aligned audio devices, and tech-driven personal gear. The brand is bolstering its premiumization strategy by prioritising product innovation, Gen Z design sensibilities, and an omnichannel presence. GOBOULT will increase its retail presence from 3,000 to over 30,000 stores in general trade, modern retail, and experience-first formats over the course of the next 18 months. It is expected that this will lead to a significant shift in the company's revenue balance, as offline sales become a critical aspect of the business The company is allocating a sum of 25 crores to R&D and design innovation, with a particular focus on the development of an AI-first company, building more intelligent hardware, the deeper integration of software, and the creation of intuitive user experiences. Furthermore, it plans to build up its engineering and design teams to facilitate this expansion. GOBOULT is presently in the process of preparing for international expansion by next year, with an initial focus on the United States, Europe, Southeast Asia, and East Asia. The new name and identity have been developed to resonate with both Indian and global audiences, positioning GOBOULT as a personal tech brand that is prepared for the future. "We are coordinating to ensure that all touchpoints of our business deliver a premium experience, including the retail floor, packaging, and product. Our expanded retail presence, robust product pipeline, and global expansion strategy position GOBOULT for its next growth chapter as we build toward our ₹2,000 crore vision by 2030," said Tarun Gupta, Co-founder of GOBOULT. Additionally, the organisation is emphasising partnerships that integrate technology and pop culture, as well as design-first collaborations, including limited-edition product releases. Its most recent Mustang collaboration was the catalyst for this trend. This transformation reflects GOBOULT's aspiration to become one of India's most prestigious personal technology brands, thereby laying the foundation for future IPO readiness and long-term global expansion.
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Business Standard
6 days ago
- Business
- Business Standard
Boult becomes GoBoult, aiming for ₹1K cr sales and international expansion
Smart wearables and hearables manufacturing company Boult is undertaking a brand image change and will adopt the name GoBoult to capture the more premium segment of users, the company's co-founder and chief executive officer, Varun Gupta, said. The rebranding comes at a time when production at most hearable and wearable manufacturing units in India, including Boult's, has been halted or slowed down due to a shortage of rare-earth magnets and other crucial elements that are imported almost exclusively from China. Gupta, however, said that the production stoppage was also necessary since the company wanted to liquidate all the old stock before rolling out the rebranded products. 'Thankfully, it was not so much of a problem for us because, anyway, we were going through a transition. We had to maintain low stock for the last 45 days and the next 30 days as well. We did not want to be producing a huge amount of stock under the old name Boult,' Gupta said. The company may, however, face hiccups even after the rebranding exercise is complete, as the rare-earth magnet supplies from China continue to be constrained, he said. 'The supplies have been constrained. We are looking at alternate suppliers in China; sometimes we are looking at importing, while at other times, it takes a premium to get the same material. As much as we would like to avoid it, we also face issues and capacity constraints,' Gupta said. The company aims to hit the market with the rebranded products starting in September, Gupta added. 'We are looking at a Rs 1000 crore+ number this year. We want to do a few strategic things, such as going international and going for an IPO (initial public offering) as we hit Rs 1000 crore,' he said. The company, which was founded in 2017, will target the Rs 2000 and above average selling price segment for both wearables and hearables, Gupta said. He added that the audio segment contributes to about 75% of the company's total revenues, while smartwatches and other wearables contribute to the other 25%. The digital-first company, which sells nearly 93% of its products through online channels and e-commerce websites, is also planning to expand its retail and offline-store presence, aiming to reach more than 30,000 stores within the next 18 months, he said. GoBoult, the rebranded company, plans to foray into the US, European, Southeast Asian, and East Asian markets within the next five years, Gupta said.
Economic Times
6 days ago
- Business
- Economic Times
Boult eyes 4x profit in FY26, rebrands to GoBoult for premium push
Boult expects a fourfold rise in net profit and 40% revenue growth in FY26, driven by premiumisation and rebranding to GoBoult. It aims to shed its value-for-money image and target higher average selling prices to cross Rs 1,000 crore in revenue. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Homegrown wearables maker Boult expects its net profit to surge four times on a 40% growth in revenue in this fiscal year through March 31, 2026, boosted by its premiumisation push, its co-founder Varun Gupta told ET. He added that the company is aiming to shed its value-for-money image amidst huge competition at the lower end, with a new name and logo for the which started operations in 2017, has seen its revenues doubling to Rs 800 crore in two years in FY2025, is aiming to cross the Rs 1,000 crore mark in FY26 on the back of average selling prices expected to cross over Rs 2,000, from Rs 1200 currently, Gupta bootstrapped wearables brand reported a net profit of Rs 2.5 crore, amidst intensifying competition as it saw its marketing and customer acquisition costs rise. Following the rebranding exercise, Gupta is targeting its net profits to cross Rs 10 crore in the next company is renaming itself to GoBoult, with the aim to shift its image from being a value-for-money brand to a more premium, youthful, contemporary brand image.'We are changing the way we think, operate, and build. GOBOULT is a brand that aligns with and is prepared for the pace and personality of the next generation. The rebrand reflects our commitment to moving faster, thinking bigger, and taking Indian innovation global,' Gupta said that despite the overall wearable and smartwatch segments declining in double digits and the truly-wireless audio segment remaining flat, Boult has not seen its growth slow down. It remains in the top five brands for both audio and smartwatches in the March quarter, according to company aims to move into higher ASP categories, by launching premium products and forming partnerships with legacy brands. Boult currently has a partnership with US auto brand Mustang. It is also partnering with Dolby for audio products.'We are the only bootstrapped and profitable player among the top five in the wearables industry. This shift is crucial because ASPs in the category have been declining, leading to lower gross profitability for the industry,' Gupta told part of its rebuild, the company wants to aggressively tap into offline retail, something which Gupta said was being hampered by its rival brands which had a higher market share in the offline space.'We encountered unfair practices from competition when we first started tapping into offline channels in February-March 2024. Some of our competitors, who had been in the space for 8-10 years and much larger in scale were pushing retailers not to stock our products,' Gupta hiccups, though, have now been solved, he said, adding that the company products are now available across 1,000 offline stores. It has now hired over 30 people for offline sales, with over 38 distributors and over 100 people out in the streets building its retailer network. The aim is to expand to 30,000 counters within the next 18 months, Gupta said.'The offline channel currently generates around Rs 5 crore in revenues every month. The goal is to increase it to a monthly Rs 25 crore. The largest player in the offline space is doing Rs 100 crore a month,' Gupta added.
Time of India
6 days ago
- Business
- Time of India
Boult eyes 4x profit in FY26, rebrands to GoBoult for premium push
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Homegrown wearables maker Boult expects its net profit to surge four times on a 40% growth in revenue in this fiscal year through March 31, 2026, boosted by its premiumisation push, its co-founder Varun Gupta told ET. He added that the company is aiming to shed its value-for-money image amidst huge competition at the lower end, with a new name and logo for the which started operations in 2017, has seen its revenues doubling to Rs 800 crore in two years in FY2025, is aiming to cross the Rs 1,000 crore mark in FY26 on the back of average selling prices expected to cross over Rs 2,000, from Rs 1200 currently, Gupta bootstrapped wearables brand reported a net profit of Rs 2.5 crore, amidst intensifying competition as it saw its marketing and customer acquisition costs rise. Following the rebranding exercise, Gupta is targeting its net profits to cross Rs 10 crore in the next company is renaming itself to GoBoult, with the aim to shift its image from being a value-for-money brand to a more premium, youthful, contemporary brand image.'We are changing the way we think, operate, and build. GOBOULT is a brand that aligns with and is prepared for the pace and personality of the next generation. The rebrand reflects our commitment to moving faster, thinking bigger, and taking Indian innovation global,' Gupta said that despite the overall wearable and smartwatch segments declining in double digits and the truly-wireless audio segment remaining flat, Boult has not seen its growth slow down. It remains in the top five brands for both audio and smartwatches in the March quarter, according to company aims to move into higher ASP categories, by launching premium products and forming partnerships with legacy brands. Boult currently has a partnership with US auto brand Mustang. It is also partnering with Dolby for audio products.'We are the only bootstrapped and profitable player among the top five in the wearables industry. This shift is crucial because ASPs in the category have been declining, leading to lower gross profitability for the industry,' Gupta told part of its rebuild, the company wants to aggressively tap into offline retail, something which Gupta said was being hampered by its rival brands which had a higher market share in the offline space.'We encountered unfair practices from competition when we first started tapping into offline channels in February-March 2024. Some of our competitors, who had been in the space for 8-10 years and much larger in scale were pushing retailers not to stock our products,' Gupta hiccups, though, have now been solved, he said, adding that the company products are now available across 1,000 offline stores. It has now hired over 30 people for offline sales, with over 38 distributors and over 100 people out in the streets building its retailer network. The aim is to expand to 30,000 counters within the next 18 months, Gupta said.'The offline channel currently generates around Rs 5 crore in revenues every month. The goal is to increase it to a monthly Rs 25 crore. The largest player in the offline space is doing Rs 100 crore a month,' Gupta added.
Economic Times
6 days ago
- Business
- Economic Times
Boult rebrands as GOBOULT to position itself as premium player before public listing
Hearable and wearable device maker Boult has rebranded itself as GOBOULT as it looks to move toward premium products before going for public listing, a top official of the company said. ADVERTISEMENT GOBOULT Co-Founder Varun Gupta told PTI that the company has plans to go for public listing after 18 months and the rebranding is key for improving bottom line in the company's financial book for a good initial public offer. "We have an internal target of going for an IPO, which is for 18 months from now. Once we hit the Rs 1,000-crore target that's when we want to go for an IPO. This rebranding is also a gun towards it because we want to have a very clear, defined identity because once we go for an IPO then we cannot make changes in our name or logo," he said. The company in the financial year 2024-25 had a revenue of around Rs 750 crore, and has projected to cross Rs 1,000-crore mark in the current fiscal. Gupta said that GOBOULT has started investing about 25 per cent of the annual profit in research and development for developing premium products with average selling price (ASP) of over Rs 2,000 apiece. "We want to be positioned as the most stable player that we've been around for some time. We do realize that for growth and moving higher up in our ASPs and thus having a better bottom line, we need to do new things to ensure that we're able to command a premium to our customers. Overall, to see a better bottom line for an IPO as well, we needed to go for this rebranding," he said. ADVERTISEMENT Gupta said that GOBOULT will adopt an omni-channel strategy rather than depending only on e-commerce firms. "The word "GO" just showcases that it's more youthful, energetic, more powerful, and that's why we added this. Secondly, we do also realize potential to go into offline channels and as a company now focusing more on becoming omni-channel," he said. ADVERTISEMENT Gupta said that in the last 15 months, GOBOULT now has 38-plus distributors and already live at 3,000-plus stores in the country. "We want to go to 30,000-plus stores in the country, which is where the biggest player in this category is already present," he said. ADVERTISEMENT GOBOULT, formerly Boult, was the third largest player in the wearable category with 8.6 per cent market share, according to market research firm IDC. The company was second largest in TWS (wireless earbuds) category and fourth in smartwatch segment in 2024 in India as per the research firm. (You can now subscribe to our ETMarkets WhatsApp channel)
