ETSA 2024 | ‘Bootstrap Champ’ Boult is marching to beat of its own drum
This is part of a series of interviews with the winners of The Economic Times Startup Awards 2024.
For wearables and electronic devices brand Boult, which started off as an audio products maker before getting into a wider range of items, the top spot in terms of market share has eluded the company despite high growth. But the two founders — brothers Varun and Tarun Gupta — insist that being profitable takes precedence over market share.
Boult’s ability to scale quickly — it is estimated to have posted Rs 800-850 crore in revenue in fiscal 2024 — without raising any external capital made it the winner in the ET Startup Awards Bootstrap Champ category this year.
“We do not want to participate in that race of just getting the No.1 spot while being lossmaking. We want to be sustainable — financially and economically,” said Varun Gupta, who is also the CEO of Boult.
According to market research firm IDC, Boult had the second highest market share for wireless earphones in the April-June quarter behind Warburg Pincus-backed rival Boat. In the overall smart wearables category, which includes smartwatches, Boult was at the third spot, after Boat and Noise.
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