GOBOULT's Push Towards Premium: A Rebranding for Future IPO
Hearable and wearable device company Boult has rebranded to GOBOULT, aiming to focus on premium products before its planned IPO in 18 months. The company seeks to enhance its financials by increasing revenue to Rs 1,000 crore, investing in R&D, and adopting an omni-channel strategy.
- Country:
- India
GOBOULT, previously known as Boult, is steering towards premium product lines as it prepares for a public listing. Co-Founder Varun Gupta revealed that the rebranding is pivotal to boosting the company's financial position ahead of the potential IPO slated for 18 months from now.
With a target of achieving a revenue milestone of Rs 1,000 crore, GOBOULT is committing 25% of its profits to research and development to enhance its offerings. The company aims to project stability and innovation as it escalates its Average Selling Price (ASP) to over Rs 2,000 per product, according to Gupta.
GOBOULT is also expanding its distribution strategy by increasing the number of physical stores, positioning itself as an omni-channel retailer rather than depending solely on e-commerce. Currently operating in over 3,000 stores, the brand plans to reach 30,000 locations nationwide.
(With inputs from agencies.)
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