boAt raises Rs 500 crore to expand in smart watches

Imagine Marketing, the parent company of boAt, raises Rs 500 crore from existing shareholders and others

e4m by e4m Desk
Published: Oct 28, 2022 10:25 AM  | 3 min read
boAt

Imagine Marketing (parent company of boAt), announces its plans to fuel the expansion of its business given strong operating momentum across its categories. The company is raising Rs 500 crore from its existing shareholder, an affiliate of Warburg Pincus, a leading global private equity fund and new investor Malabar Investments. 

The investment will enable the company to accelerate its plans to attain leadership in the smartwatches category, scale up its business across channels and geographies (both within and outside India), further strengthen its category leadership within audio, enhance its R&D and design capabilities, and support building a local manufacturing ecosystem under the Make-in-India initiative. 

Aman Gupta, Co-founder & Chief Marketing Officer, of boAt, said “We have established clear leadership in our core personal audio category and are the number two player globally in earwear. It is a matter of great pride that a brand that was born in India is now ranked amongst the top brands in the world. We now want to make smartwatches our second core and will replicate the boAt digital playbook to become global leaders in this category as well. The new funding will allow us to invest significantly to disrupt the smart watches spaces with more innovative products. And we are thrilled that investors continue to have strong conviction and confidence in the boAt story”. 

Less than a couple of years ago, boAt entered the smartwatches category. boAt has made significant progress in expanding into this fast-growing space, established itself as one of the leading brands in the category, and taken large strides towards building a health and wellness wearables ecosystem. 

Partnerships with leading global companies like Qualcomm (also a shareholder in boAt), Dolby, Dirac, and others have helped in bringing the best technology to consumers. boAt is condidered as the top audio brand in the country and number two. earwear brand globally. The boAt brand is loved by millions of Indians, including GenZ and millennials, with the highest brand awareness in the category said in a statement by the company.

Sameer Mehta, Co-founder & Chief Product Officer, of boAt, added: “We are very excited about the potential of smartwatches. The market today is in the early stages of evolution and most players don’t have control over the end-to-end stack to offer compelling features to consumers. There is a significant opportunity to build the category and launch more distinctive and technologically advanced products. Through boAt labs (our 120-person in-house R&D team) and our acquisition of KaHa Technologies, (a world-class wearables technology and IoT platform, with 64 patents and patent applications), we are developing the next generation of products. These products will provide richer features and deeper insights to consumers on their health and wellness to enable them to lead more active and fulfilling lifestyles”.

Along with driving growth in the core audio category and adding smartwatches as a second core, the company is making significant progress in diversifying its manufacturing footprint via partnerships with various leading EMS players in India, including Dixon, with whom it has also created a manufacturing JV. A significant proportion of boAt’s products are now being produced in India (~1 million units every month currently). The company is also putting plans in place to take the boAt brand overseas. 

The strong operating momentum these investments have created has resulted in boAt having built significant scale (it closed FY (March) 2022 with net revenue of approximately Rs 3,000 crore), industry-leading revenue growth (~100 per cent ) year on year while building a profitable business and investing for the future.

 

 

Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)

For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube

Swiggy calls for review of Rs 200-crore media account

Havas Media Group India is the incumbent agency

By Sonam Saini | Sep 15, 2023 4:43 PM   |   1 min read

swiggy

Swiggy India has called for a review of its media duties account, e4m has learnt. The mandate is currently with Havas Media Group India. 

According to reliable sources, the account is valued at Rs 200 crore. e4M has also learnt that the pitch process has seen participation from all big agencies, including Essence Mediacom and Madison.

Havas Media Group India won the account in 2016.

According to Pitch Madison Advertising Report 2023, Swiggy spent Rs 250-350 crore on advertising last year. 

e4M reached out to Havas and Swiggy for confirmation of the news, but is yet to get a reply.

 

Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)

For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube

e4m-Zee Media Business Leaders Meet to be held on September 15 in Kanpur

At the roundtable, experts will share insights on the theme 'Building Bharat-First Brands'

By e4m Desk | Sep 13, 2023 9:06 AM   |   2 min read

e4m-zee meet

The exchange4media Group is set to host the much-awaited e4m-Zee Media Business Leaders Meet on September 15 in Kanpur, Uttar Pradesh. The one-of-its-kind gathering will see the coming together of business owners, Managing Directors, CEOs and other business leaders of Kanpur under one roof and explore key topics of brand building. Driving the theme 'Building Bharat-First Brands', industry experts from across the city will share insights on the current scenario of the markets where MNCs and mega corporations are looking to take over the Indian market in their respective sectors.

The experts will throw light on several key topics like customer segmentation outside India's metros, integrating localization into the vertical stack, Online vs physical models where the leaders will discuss what works for Bharat, and more. The real Bharat-based brands are becoming the forerunners of legacy and tradition and the leadership these regional brands, which are rooted to their culture, are creating through a customer-first approach.

At the e4m-Zee Media roundtable, participants will discuss the business journey of brands, their success strategies, and challenges faced by them in the Indian market and how they contribute to the growth of regional and national economy. Several seasoned experts from the media, advertising, and marketing ecosystem will also participate in the event.

Our speakers for the e4m-Zee Media Business Leaders Meet include Rishi Katyal, Panem Steels Pvt Ltd, Rajeev Kumar Dwivedi, TTRC at LOHIA CORP LTD; Yogesh Agarwal, Rimjhim Ispat Ltd; Abhishek Gupta, Ashok Griha Udyog Kendra Private Limited; Rishabh Jain, Kataria Ecotech Pvt Ltd; RC Gulati, Jyoti Capsule Pvt. Ltd; Ajay Lohia, Threads (India) Ltd; Raman Tandon, Aditya flexipack; Udit Narain Trivedi, Naraina Group of Institutions and Divyansh Agarwal, KD Polymers Pvt. Ltd.

Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)

For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube

Gaurav Burman of Dabur acquires 7.5% stake in mental health start-up Mitsu

The company also has as angel investors successful entrepreneurs including Shivashish Chatterjee and Yuvraj Singh and Harpreet Singh Grover

By e4m Desk | Sep 12, 2023 3:39 PM   |   2 min read

dabur

Gaurav Burman, a member of the Burman family and Director of Dabur International, has acquired a strategic 7.5% stake in healthcare start-up Mitsu. Mitsu is a mental health tech start-up offering a convenient and scientific self-therapy program that helps individuals who feel anxious or depressed build skills for lifelong emotional well-being.

"I am delighted to be a part of this healthcare revolution called Mitsu. Mental Health is an extremely important issue and affects most of us at some stage in our lives. Mitsu has developed a science-based approach to helping those who feel anxious or depressed in a novel, confidential, and affordable manner. I have been a firm believer in Mitsu from the very beginning, as early as its concept stage. This investment is part of my mission to invest in companies that are shaping the future of healthcare through innovative and people-centered solutions. I am confident that Mitsu will continue to take this fast-growing business to even greater heights,” said Gaurav Burman, who has now joined the board of Mitsu.

The company also has as angel investors successful entrepreneurs including Shivashish Chatterjee and Yuvraj Singh (founders of DMI Finance) and Harpreet Singh Grover (who founded and exited CoCubes).

“We are thrilled to welcome Mr. Gaurav Burman as an investor in Mitsu. His support and guidance will help us move ahead with our strategy to create an accessible, convenient, and scalable solution for mental healthcare that can benefit over 40% of the adult population,” said Mitsu founder Mr. Amit Singh.

Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)

For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube

Reliance Retail acquires 51% stake in Alia Bhatt’s Ed-a-Mamma brand

The partnership will see the brand grow into new areas like personal care and baby furniture

By e4m Desk | Sep 6, 2023 7:06 PM   |   2 min read

isha

Reliance Retail Ventures Limited (RRVL) signs a joint venture with Alia Bhatt’s conscious clothing brand of kids and maternity-wear, Ed-a-Mamma for a 51% majority stake.

“RRVL aims to take the brand on a dynamic growth trajectory by closely collaborating with founder Alia Bhatt and leveraging the management strength of its subsidiary Reliance Brands Limited to spearhead the business. This partnership also marks a significant step forward in promoting sustainable fashion for the younger generation,” stated a press release.

Ed-a-Mamma was founded by Alia Bhatt in 2020 as an apparel brand for 2–12-year olds. In a significant stride last year, the brand expanded its range to include maternity-wear which was thoughtfully timed to coincide with Alia Bhatt’s pregnancy which was soon followed-up with a line for infants and toddlers - further demonstrating the brand's versatility.

“At Reliance, we have always admired brands that lead with a strong purpose and embody a unique design ethos exemplified perfectly by Ed-a-Mamma and its founder Alia Bhatt. With sustainability as its core proposition the brand has garnered acclaim for its meticulous attention to detail, using ethically sourced materials and eco-conscious production processes. This aligns seamlessly with Reliance Brands' vision of fostering a more responsible future for the fashion industry,” said Isha Ambani, Director, Reliance Retail Ventures Limited.

“Alia’s daughter and my twins are two weeks apart and we pretty much went through our pregnancies at the same time coincidentally wearing Ed-a-Mamma maternity, and now dressing our children in Ed-a-Mamma kidswear, which they love! So, this is special – The product, brand and the partnership are especially close to my heart,” added Isha Ambani on a personal note.

Speaking about the joint venture, Alia Bhatt said, “Isha and I found a wavelength as two new moms discussing what mothers want. I told her what we were already doing at Ed-a-Mamma and how there’s scope to do so much more. She said Reliance can bring strengths in everything from supply chain to retail to marketing. With this joint venture, we look forward to taking Ed-a-Mamma to many more kids and parents and continuing to inspire a love for nature through everything we do.”

The partnership will see the brand grow into new areas like personal care and baby furniture while retaining its core values of being child-friendly, parent-friendly, and planet-friendly. Also on the anvil is children's story books and an animated series that will breathe life into the enchanting world of Ed-a-Mamma, the release stated.

Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)

For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube

Tata in talks to acquire 51% stake in Haldiram’s: Report

If the deal is successfully concluded, it would see the Indian conglomerate directly compete with Pepsi and billionaire Mukesh Ambani's Reliance Retail

By e4m Desk | Sep 6, 2023 3:54 PM   |   2 min read

Haldiram's
Tata Group's consumer unit is in talks to buy at least 51 per cent of popular Indian snack food maker Haldiram's but is not comfortable with the USD 10 billion valuation sought, two people briefed on the matter said.
If successfully concluded, a deal would see the Indian conglomerate directly compete with Pepsi and billionaire Mukesh Ambani's Reliance Retail.
Haldiram's, a household name in India, is also talking with private equity firms including Bain Capital about the sale of a 10 per cent stake, they said.
Tata Consumer Products, which owns UK tea company Tetley and has a partnership with Starbucks in India, is negotiating the stake purchase, the sources said.
A third person with direct knowledge of the talks said Tata wanted to buy more than 51 per cent but has told Haldiram's that its "ask is very high."
The potential acquisition represents an exciting opportunity for Tata, the person said, adding: "Tata (Consumer) is seen as a tea company. Haldiram's is huge in the consumer space and has a wide market share."
The sources spoke on condition of anonymity.
A spokesperson for Tata Consumer Products said it "does not comment on market speculation". Haldiram's Chief Executive Krishan Kumar Chutani and Bain declined to comment.
Family-run Haldiram's traces its origins back to a tiny shop founded in 1937 and is well-known for its crispy "bhujia" snack sold for as little as 10 rupees across mom-and-pop stores.
It has almost 13 per cent share of India's USD 6.2 billion savoury snack market, according to Euromonitor International. Pepsi, famous for its Lay's chips, also has around 13 per cent.
Haldiram's snacks are also sold in overseas markets like Singapore and the United States. The company has around 150 restaurants selling local food, sweets and western cuisine.
 
 

Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)

For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube

Bloomberg expands India-centric offerings

The new content includes a newsletter authored and curated by Bloomberg senior editor Menaka Doshi

By e4m Desk | Sep 5, 2023 4:11 PM   |   2 min read

bloomberg

Bloomberg News is expanding its India-centric offerings spanning digital platforms and Bloomberg TV, it was announced today.

The new content includes a newsletter authored and curated by Bloomberg senior editor Menaka Doshi, who has more than 27 years of experience reporting on Indian business and markets.

Bloomberg’s enhanced India coverage across platforms includes:

  • India Edition with Menaka Doshi: Launched on August 31, this weekly newsletter is an insider's guide to India as an emerging economic powerhouse, and the billionaires and businesses behind its rise. Leveraging the unique insights of Bloomberg journalist Menaka Doshi, this newsletter will help readers make sense of the robust India growth story, from within. It will offer the best of Bloomberg's exclusive reporting on India.

 

  • In-depth G-20 coverage: With the world’s attention turning to India as it hosts the B20 and G20 Summits, Bloomberg TV will launch a four-part video series ‘Is This India's Moment?’ and broadcast special TV programming around the G20, hosted by Menaka Doshi and Chief International Correspondent for Southeast Asia, Haslinda Amin. A special team of Bloomberg reporters will cover the high-level summit through exclusive stories and a live, rolling blog throughout the first week of September.

 

  • India Focus TV Segment: Airing every day at 9:10 AM IST globally, the ongoing India Focus segment on Bloomberg TV features business interviews with influential Indian newsmakers.

 

  • New Voices India: Since 2018, Bloomberg has sponsored intensive media training workshops, individualized for women and diverse executives in business and finance in 15 global cities and counting. A new cohort for India will be launched this October.

 

  • Enhanced financial markets coverage: Bloomberg News continues to deepen its analysis of Indian asset markets. New and upcoming offerings on the Terminal include Non-Deliverable Forwards/Options Insights, a Weekly Cross-Asset Newsletter and a Weekly Derivatives Newsletter that harness the power of data and analytics.

 

Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)

For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube

Who will be IMPACT Person of the Year, 2022?

The award recognises and celebrates excellence in the advertising, media and marketing ecosystem

By e4m Desk | Sep 4, 2023 5:21 PM   |   3 min read

IPOY

The much-awaited list of nominees for the IMPACT Person of the Year (IPOY) award for 2022 is finally out! Like every year, this year too, we have a stellar list of nominees for IPOY. The marketing and advertising world is keen to know who will be the IMPACT Person of the Year, 2022. The game-changers who made it to the nominees for the 18th edition this year include Aman Gupta, Co-founder & CMO, boAt; Darpan Sanghvi Founder & CEO, Good Glamm Company; Ghazal Alagh, Co-founder & CIO, Mamaearth and Varun Alagh Co-founder & CEO, Mamaearth; Harsh Jain, Co-founder and Culture Enforcement Officer, Dream 11; Harsh Mariwala, Founder & Chairman, Marico; Mohit Burman, Chairman, Dabur India Ltd; N Chandrasekaran, Chairman, Tata Sons.

The other great minds who have made to the nomination list of the prestigious award are Nisaba Godrej, Executive Chairperson, Godrej Consumer Products Ltd; Peyush Bansal, Co-founder and CEO, Lenskart; RS Agarwal, Co-founder & Chairman Emeritus, Emami Limited; RS Goenka, Co-founder & Non-Executive Chairman, Emami Limited; Sanket Ray, President, India & Southwest Asia, The Coca-Cola Company; Vineeta Singh & Kaushik Mukherjee, Co-founders, Sugar Cosmetics.

Dr Annurag Batra, Chairman and Founder exchange4media, commented, "Impact Person of the year over the last 18 years has become synonymous with excellence and impact at scale and someone who makes a huge impact on the digital , media, advertising and marketing ecosystem through building their own businesses and also being a game changer for their companies and the industry."
 
"This year's nominees have taken the scale and impact of excellence to a new level," he added.

The nomination list exemplifies the spirit of the ‘IMPACT Person of the Year’ award by pushing boundaries, challenging the status quo, and making a lasting impact in the industry. The nominees’ contributions serve as an inspiration and a testament to the power of dedication, innovation and creativity.

IPOY is presented to one or more individuals who have made an impact in the advertising, media and marketing sphere and influenced the industry with their significant contribution. IPOY, the exchange4media Group’s flagship property, recognizes and celebrates the best minds who have demonstrated extraordinary leadership qualities and outstanding contributions to the industry during their career. The person/s should have made a substantial contribution to his/her own business as well as industry bodies and the practice adopted by him/her should have had far-reaching effects in the foreseeable future.

The past winners include Sanjiv Mehta, then CEO and MD of HUL (2021), Sanjiv Puri, Chairman & MD of ITC Ltd (2020), Byju Raveendran, Founder & CEO, Byju’s (2019); Rajan Anandan, then MD, Google India (2018); Baba Ramdev of Patanjali Ayurved (2017); Vijay Shekhar Sharma, Founder and CEO of Paytm (2016), Arnab Goswami, former President & Editor-in-Chief, Times Now and ET Now (2015), Punit Goenka, MD & CEO, Zee Entertainment Enterprises Ltd (2014); Vineet Jain, MD, Times Group (2013); Ambika Soni, then Minister for Information & Broadcasting (2012), amongst others.

Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)

For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube