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The New Warrior of Wearable: Varun Gupta, Co-founder, BOULT The business grew about 66 per cent in 2022-23 to around Rs 500 crore and they are now expecting revenues to grow to INR 1,000 crore with a four-fold jump in sales of smartwatches

By Punita Sabharwal

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Varun Gupta, Co-founder, BOULT

Varun's professional journey kicked off with an internship at Yahoo Research in Barcelona, paving the way for roles at Business World and Snapdeal. Before BOULT, he ventured into three other startups, delving into advertising, community-based reselling platforms, and e-commerce consulting.

"I think consumer centricity is at the heart of our company's belief and this is what has helped us build a strong and fastestgrowing wearable brand. Considering the competitive nature of the wearable technology sector in India, apart from ensuring that our products are top notch in its technological prowess, we have kept our focus on design and a competitive price-point throughout. One of our proudest achievements as a brand is our commitment to being 'Made in India' as over 90% products sold today are being manufactured in the country," claims Varun Gupta, Co-founder, BOULT, who started the brand with his brother. Boult's journey began with the neckband category.

Establishing itself by making a mark there, it ventured into headphones, true wireless stereo, and speakers in the audio category. It is the 2nd largest selling brand across major marketplaces in the current year 2022. Expanding further into the smartwatch category, and despite being a new entrant in this market segment, it holds the record of the fastest selling and best rated smartwatch on Flipkart. "We have launched our range in the UK and are going to be live in five countries by the end of the next quarter," shares Gupta.

The business grew about 66 per cent in 2022-23 to around Rs 500 crore and they are now expecting revenues to grow to INR 1,000 crore with a four-fold jump in sales of smartwatches.

BOULT has successfully sold over 2.5 crore units to date, reaching more than 99% of the zip codes in the country, with a targeted gross revenue of $60 million for this financial year. Notably, the brand has consistently achieved over 100% annual growth for the past five years and, remarkably, has maintained profitability while being entirely bootstrapped.

FACTSHEET:

No. Of Co-founders: 2

No. Of Employees : 400+; Fulltime 5000 overall

Year Of Inception: 2017

Punita Sabharwal

Entrepreneur Staff

Managing Editor, Entrepreneur India

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