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We go after the youth aspiring to Apple Watch: Fire-Boltt chief

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NEW DELHI : In the April-June quarter, Fire-Boltt, a wearables, gaming and audio brand offering fitness and fashion products, emerged as the market leader in the smartwatch category. Owned by Boltt Games Pvt. Ltd and incubated by Savex Technologies, the company’s market share was captured at 28% by Counterpoint Research and 25% by IDC India. In an interview, Arnav Kishore, founder and CEO of Fire-Boltt, said the brand aims to build loyalty through innovations, new products and competitive pricing. The company wants to touch 2,000 crore turnover higher than the current one 500 crore by the end of FY23, he said. Edited excerpts:

Your company has been around for seven years, but the brand has only recently grown. What were the challenges?

When we started in 2015, our vision and mission was to make India fitter by providing the best wearables in the segment. At the time, we were one of the first wearable technology companies in India, with very little competition. We’ve innovated a lot with sensor technology about how sensors can track your daily fitness, from running movements to speed, and other technical metrics that have been useful to athletes and cyclists. But at that time the market was very small and new. It was difficult to acquire customers. People didn’t really understand the meaning of wearable technology as such. So it took us some time to get started.

After the pandemic, in 2020, we saw an opportunity in smart watches where the fitness trackers started to decline and the idea of ​​smart watches started to click. There was a sudden awareness and people started to become more health and fitness conscious. However, there was a big gap in terms of the types of products out there, with the types of features and the price points. That’s where we wanted to position ourselves.

What is the plan for the future?

In less than two years, we have done a lot of work and have become the number 1 brand in the smart watch segment in India. The growth is the result of many things, including the right set of product development. We are very aggressive when it comes to product strategy. We launched the first smart watch with a built-in oxygen saturation tracker, the first Bluetooth calling watch in India and now we have more than 30 in our portfolio.

We also launched the industry’s first with a superior display watch called: 5,000 marks. We see a growth of 1,000% from last year on this year. We expect to cross the 2,000 crore and 15 million units plus in sales this year.

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