The Business Bytes
TBB BUREAU
BHUBANESWAR, JUNE 22, 2022
Homegrown wearable and audio brand Fire-Boltt which surpassed the front-runners by being adjudged as the undisputed leader in the wearable watches market, aims to expand its outlets from 30,000 at present to 1 lakh in the next six months with a target to ship a million units every month, said a company official while speaking at a ‘meet and greet’ session with its top retail partners, here today. The brand has a presence across 1000 outlets in Odisha at present. The company also aims at tripling its revenue in the next year, from Rs 500 crore in the previous fiscal.
To celebrate the milestone, the brand organized a meet and greet session in Bhubaneswar with its top retail partners in presence of Amit Srivastava (Product Manager, FireBoltt), Kunal Bose (RSM, FireBoltt), Sujit Das (DGM Savex Technologies) and Jay Sadany MD of regional distributor RJS Enterprises.
The brand has split online and offline marketing ratio of 50:50, which helped them sold over 5,00,000 units every month.
Fire-Boltt is exclusively distributed in India by Savex Technologies, India’s third largest technology distributor.
The brand has claimed the number 1 spot and captured a market share of 24.6%, and registered a 2,000% YoY growth despite the industry growing at a stagnant pace. Fire-Boltt further grew by 47.5% quarter-on-quarter and sold a total of 916,765 units in comparison to 628,789 units while the overall industry de-grew by 25% approximately.
Commenting on this achievement, Arnav Kishore, Founder & CEO at Fire-Boltt said, “Odisha is an important market for us and we are glad to organize this retail meet with our partners. These sessions help us in engaging with our retail partners and get an on-ground understanding. With our focus on expansion, we will continue on organizing these meet-ups to stay connected with our retail partners. We look forward to achieving bigger milestones in the near future and Odisha will continue to be the leading contributor to our brand.”
Fire-Boltt has claimed this formidable spot within 15 months in the market and today is the biggest name in the wearable watches category. The homegrown brand has carved a niche for itself in the country by developing strong in-house capabilities, innovative product offerings, technology superiority, and effective alliances including online e-commerce partners, retailers and distributors across the country.
Adding to the excitement, Ayushi Kishore, Co-Founder, Fire-Boltt, said, “At Fire-Boltt, we believe that for expanding deeper into the Indian territories, it’s important to organize such meet-up sessions. It not only gives us an idea about the partners but also provides in-depth knowledge about the customer needs. Our focus will continue to expand our product line-up and do celebrity endorsements for aggressive marketing. With support from our brand ambassadors Virat Kohli and Vicky Kaushal, we aim to continue the winning streak and target the markets at a massy level to achieve bigger milestones.”
