Boult rebrands as GOBOULT to position itself as premium player before public listing
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)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
6 minutes ago
- India Today
Rs 67,000 crore plan approved to enhance operational capability of Armed forces
The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, on Tuesday approved proposals worth approximately Rs 67,000 crore to upgrade the operational capabilities of the Indian Armed Forces. The decisions cover key acquisitions and upgrades for the Army, Navy, and the Air Force, an official statement the Army, the DAC approved the procurement of Thermal Imager-based Night Sights for drivers of BMP infantry vehicles. This move is aimed at enhancing the nighttime mobility of mechanised infantry units, improving their operational effectiveness during low-visibility Navy will get a boost with the procurement of Compact Autonomous Surface Craft (CASC), which are designed for anti-submarine warfare. These unmanned vessels will boost the Navy's ability to detect, identify, and neutralise underwater threats. Additionally, the Navy will receive updated BrahMos missile fire control systems and launchers, along with an upgrade to the existing BARAK-1 missile system, improving its point defence a significant move to enhance air surveillance and defence, the Air Force will procure advanced Mountain Radars. These radars are designed to improve monitoring and threat detection along India's mountainous DAC also cleared the upgradation of the SAKSHAM/SPYDER weapon systems, allowing them to be integrated with the Integrated Air Command and Control System, thereby strengthening the overall air defence three services—Army, Navy, and Air Force—will benefit from the acquisition of Medium Altitude Long Endurance Remotely Piloted drones are capable of carrying multiple weapons and payloads, and can operate over long distances for extended durations. Their deployment will significantly enhance surveillance, reconnaissance, and combat readiness around the addition to new acquisitions, the DAC also approved long-term maintenance and support measures for critical existing systems. This includes support for the Air Force's C-17 and C-130J transport aircraft fleets, as well as a comprehensive annual maintenance contract for the S-400 long-range air defence missile the proposals fall under the 'Acceptance of Necessity' category, marking the first step in the procurement approvals reflect India's continued push towards enhancing self-reliance in defence and strengthening the capabilities of its armed forces across all domains.- Ends
Indian Express
6 minutes ago
- Indian Express
Gujarat's Keshod Airport to facilitate operations of larger AB-320 aircraft by January 2027: Govt
The Keshod Airport in Junagadh will be able to facilitate operations of AB-320 type aircraft by January 2027, the Ministry of Civil Aviation said on Tuesday in its response to an unstarred question by a Rajya Sabha MP from Andhra Pradesh. Parimal Nathwani, the Director of Corporate Affairs at Reliance Industries Limited, and a member of the upper house of Parliament from the YSRCP, on Tuesday asked a series of unstarred questions about the Keshod Airport that were answered by Murlidhar Mohol, the MoS for Civil Aviation. In his response to questions regarding infrastructure upgradation at the airport, Mohol, in a written reply, said: 'The Airports Authority of India (AAI) has undertaken the extension of the runway at Keshod Airport in Gujarat, to a length of 2500 metres to facilitate the operation of AB-320 type of aircraft. The estimated cost of the project is Rs 190.558 crore and the timeline for completion of the project has been set at 18 project is underway with no reported delays. The projected date of completion of the project is January 2027.' Replying to a question regarding the terminal building upgrade and its capacity, the ministry replied, 'The AAI has undertaken the development of Keshod Airport in Gujarat at an estimated cost of Rs 364 crore which includes the New Terminal Building at a cost of Rs 142.17 Crore. The new terminal building, spanning 6,500 square meters, is designed to handle a peak hour capacity of 400 departing and 400 arriving passengers simultaneously. The tender for construction of the new terminal building has been floated, and the timeline for completion of the project is 15 months from the date of the award of the work.' Talking about the reasons behind him asking these questions, Nathwani said, 'By upgrading Keshod Airport to allow operation of large-body aircraft, it will become easier for wildlife enthusiasts across the globe to travel to Gir National Park to see the only remaining Asiatic Lions in the world. At the same time, the Somnath temple owns a special place amongst the twelve jyotirlings, and Keshod Airport will facilitate devotees of Lord Shiva from India and abroad to visit this famous temple with much greater ease.' Other questions asked by Nathwani related to flights at the airport were available on the Rajya Sabha website. According to the site, in a response to questions on the current flight schedule at Keshod Airport, the ministry said, 'Presently, there are no scheduled flight operations from Keshod Airport.' Regarding flights cancelled since January 2025, the reply stated, 'Since January 2025, 29 flights of Alliance Air on Ahmedabad-Keshod-Diu sector and 23 flights of Alliance Air on the Mumbai-Keshod-Mumbai sector were cancelled due to aircraft issues.' Nathwani also wanted to know about the steps taken by the DGCA 'to bring back the lost confidence of people to fly subsequent to the tragic incident of plane crash in Ahmedabad'. 'Post the tragic crash in Ahmedabad, DGCA has ordered enhanced safety inspection of Air India's Boeing 787 fleet and carried out heightened surveillance across various regions in India to ensure safe operations of aircraft. DGCA has also issued General Safety Circular 01 of 2025 for a comprehensive special audit to assess the aviation ecosystem and strengthen aviation safety architecture. The government has reviewed the safety practices of all major airlines and airports,' the ministry replied.
Time of India
6 minutes ago
- Time of India
ChrysCapital gets CCI nod to acquire majority stake in bakery chain Theobroma
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Fair trade regulator Competition Commission on Tuesday cleared homegrown private equity major ChrysCapital 's proposal to acquire a majority stake in Mumbai-based bakery chain ChrysCapital is acquiring the stake in Theobroma through its affiliates, Infinity Partners, Aqua Investments Ltd and Atreides Investments BV."The proposed combination relates to the acquisition of certain equity shareholding of Theobroma Foods Pvt Ltd (Theobroma) by Infinity Partners, Aqua Investments Limited and Atreides Investments BV," the Competition Commission of India (CCI) said in a is engaged in the business of manufacturing and sale of bakery and confectionery products, food and beverages through its patisseries and stores present in over 30 cities in India and via its online platform and other online sales channels."CCI approves acquisition of certain equity shareholding of Theobroma Foods Pvt Ltd by Infinity Partners, Aqua Investments Ltd and Atreides Investments BV," the regulator said in a post on to reports, ChrysCapital is set to acquire a 90 per cent stake in Theobroma Foods for an estimated Rs 2,410 signed a deal to acquire a majority stake in Theobroma from its promoters and the current existing investor ICICI Venture , as per reports. However, the founders will retain around 10 per cent holding in the Venture owns nearly a 42 per cent stake in Theobroma. It had invested nearly USD 20 million in was founded in 2004 by sisters Kainaz Messman Harchandrai and Tina Messman beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
