The company has a range of wide variety of products like audio gear, smart wearables, personal grooming products, and mobile accessories.
Consumer electronics brand boAt’s parent company, Imagine Marketing Pvt Ltd, has taken up into a 50:50 joint venture with Dixon Technologies Ltd to created wireless audio products in India. The two players anticipated the JV entity to achieve revenues of ₹1,000 crores by the end of four years.
Vivek Gambhir, CEO, boAt told Business Line, “In a short period, they have established crystal clear leadership in the personal audio sector. They continued to strengthen their existence by emphasizing launching aggressive and more creative products, adapting their supply chain, and making important funding in design, research and development, and technology partnership.
This joint venture with Dixon is an important breakthrough for them to establish a strong manufacturing ecosystem in India. It will help us to become more sharp launch more innovative products and also bring down the cost of products for consumers
The joint venture will help boAt to establish a manufacturing base in India and de-risk its supply chain by anchoring on the high quality and low-cost structure of Dixon Technologies. They felt confident by the end of the fourth year, the JV will achieve a profit of about ₹1,000 crores.
The total Capex over four years will be to the tune of ₹40 crores. Out of this about ₹15 crores will be the investment made by both the partners as equal contribution and the balance ₹25 crores will be supported through strong cash flow generation by the JV entity.”
The joint venture will focus on manufacturing Bluetooth-enabled wireless audio devices initially and at a former stage, they also inspect occasions to make other lifestyle-related products. Gambhir added that this will go far away from manufacturing and also focus on building skills in IP development and strengthening in-house design capabilities.
They will hope to develop innovative products through this JV not only for the Indian consumers but also for international markets.
Established in 2013 Imagine Marketing Pvt Ltd. offers a range of products that includes audio gear, smart wearables, personal grooming products, and mobile accessories, among others.
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