Imagine Marketing Ltd., the parent company of boAt branded wearables, is planning to achieve production target of 60 lakh units of boAt branded products locally in H1 FY23 (as of September 30, 2022) under its ‘Make in India’ strategy.
As ‘Make in India’ initiative continues to scale up, it is enabling the brand to roll out products faster and at lower prices, said Aman Gupta, co-founder and CMO, Imagine Marketing Ltd.
With the support of government schemes, Mr. Gupta said Imagine Marketing would become a global lifestyle brand..
Since the first quarter of FY22, many boAt products within the Rockerz, Bassheads, and Airdopes product ranges, as well as accessories (including cables and power banks) are being manufactured in India.
Mr. Gupta said considering the festive season, the demand for boAt’s product portfolio would rise due to their “gifting thrust and positioning”.
He attributed the growing demand to positive consumer sentiment, affordability, and a better feature set in the devices.
Watch-based wearables tend to be the fastest-growing category for Imagine Marketing showing momentum with 145% growth over the last year.
Established in 2013 by Aman Gupta and Sameer Mehta, Imagine Marketing offers a product portfolio ranging from audio gear, smart wearables, personal grooming and mobile accessories.