Finschool By 5paisa

FinSchoolBy5paisa

Aman Gupta: Success Story of Boat Company’s Co-founder & CMO

Aman Gupta

Har Industry mein ek Gunda hota hai aur is industry ka Gunda Hum hai” – Remember these punch dialogues?

Boat Founder Aman Gupta

Yes you got it right! These lines were said to a contestant with Brand name Hammer in Shark Tank show by Judge Mr. Aman Gupta.   Mr. Aman Gupta-An Entrepreneur who has set an example in the business world in a short span and is known today for his Success and Dedication. Today we all have portable music systems with most trendy collections and that too at an affordable price. All credit goes to boAt.

boAt today has achieved huge success and Mr. Aman Gupta has captured the market through his business strategies. Earphones, headsets, smart watches, air pod, Bluetooth Speakers and Many more are the products through which boAt has touched consumer’s heart.

Music Lovers! Absolutely the brand is for them.

Mr. Aman Gupta is co-founder of this astonishing Brand. His hard work has definitely paid off. And so he is confident to say that his brand is ruling the market currently.

So, Let us understand Aman Gupta’s Success Story

Early life and Professional Career of Mr. Aman Gupta

  • Aman Gupta was born in the year 1982. He pursued his bachelor’s Degree in Commerce from Delhi University after which he joined The Institute of Chartered Accounts of India.
  • He also pursued MBA in General Management and Marketing as an Exchange student at the Kellogg School of Management from Northwestern University and then went for an MBA in Finance, and Strategy at the Indian School of Business.
  • He started his career as an Assistant Manager with Citi. He later became the CEO and Co-founder of Advanced Telemedia Pvt Ltd. He then joined as Senior Management Consultant at KPMG.
  • Later he joined as Sales Director at Harman International.
  • Ultimately Mr. Aman Gupta founded boAt in the year 2016 with Mr. Sameer.
  • He also co-founded Imagine Marketing India, which became the parent of boAt in 2014.  

Net Worth of Mr. Aman Gupta

Aman Gupta’s Net Worth

Rs 700 crores

Aman Gupta’s biggest source of earning is from his company boAt. The company launches its products at low and convenient prices. boAt earned a revenue of around Rs 500 crores in the year 2020. Aman Gupta’s success story is because of his Never Give Up attitude. He always had the ambition of doing something different and the journey has never been easy. Despite of challenges he has paved his way towards success.

Aman Gupta Personal Life

  • Gupta belonged to a middle-class family with his father, Neeraj Gupta, a director, and his mother, Jyoti Kochar Gupta, a housewife. 
  • Aman Gupta tied the knot with Priya Dagar and the couple gave birth to two daughters Mia Gupta and Adaa Gupta. 
  • He also has two siblings, namely Anmol Gupta his brother and Neha Gupta his sister.

The Birth of boAt

  • The first question that comes to our mind, is Why is an electronic accessories company named boAt? So here the company’s tagline is “Plug In to Nirvana.
  • Nirvana means attaining complete peace and freedom, which the company aims to extend to the audiophiles of the country and other users.
  • “When you take a boat, you leave everything behind. You plug into a new zone”-Says Aman Gupta.
  • boAt started as a bootstrapped company in the initial years with a funding of around 3 Lakhs from the founders and had to struggle initially for raising funds.
  • The company has faced numerous challenges day in and out for manufacturing trendy products and penetrate in to the market.
  • There are competitors in the market which boAt had to face to create an exceptional brand image for itself.
  • There are several brands that manufacture music devices but not everyone is cost effective.
  • boAt Company stepped in here and completely revolutionized the industry.
  • The founders—Sameer Mehta and Aman Gupta wanted to create a lifestyle brand that would deal with fashionable audio concentrated electronics. The boAt company started as a cable manufacturer and seller.
  • Initially banks didn’t believe in the company and refused to lend.
  • Investors shied away from investing in Indian hardware venture which was pitted against the Germans, Japanese ,Americans and Chinese and a battery of local players, consumers didn’t know what boAt was as there were over 200 brands vying for attention.
  • Apple chargers and cables were the very first products launched by boAt.
  • On Amazon, Apple chargers became the highest-selling products because these chargers were comparatively cheaper than the original ones, and the quality was also much high.
  • Unlike Apple’s original chargers and cables, which got damaged quickly in a brief span, boAt chargers and cables were super sturdy, long-lasting, and pocket friendly.
  • Aman Gupta’s brilliant marketing strategies led boAt to its new heights in a brief period, and it became one of the country’s most profitable lifestyle electronic wearable brands.
  • The growth of the boAt company is mainly driven by its distribution partnerships. Initially, the company was selling its products and devices on Amazon, Flipkart, Myntra, and Jabong.
  • However, recently the company started its retailing at several Croma outlets and on the official website.
  • The good performance of the products has helped boAt in achieving the desired growth.

Aman’s Role in boAt as a Co-Founder

  • Aman Gupta got bored of his corporate life. He wanted to be Entrepreneur.
  • Gupta got hooked to the music, and ideology, of legendary reggae singer and writer Bob Marley. ‘Love the life you live, and live the life you love’ became his mantra.
  • The chartered accountant, who took to accounting because his dad wanted him to, started charting an ambitious and independent path. It all culminated with boAt.
  • What also gave Gupta an edge was a slew of India-specific innovations he rolled out. Much of India is humid throughout the year.
  • The boAt launched water-resistant and sweat-proof hearable products. 
  • The brand started talking to the consumers in their language; millennials started identifying themselves with the product; and for the first three years word-of-mouth spread like wildfire for the direct-to-consumer brand.
  • Aman Gupta’s major professional emphasis is his commitment to Image Marketing, which is BoAt’s custodian firm
  • The sole aim of boAt company was to provide affordable, durable, and more importantly, ‘fashionable’ audio products and accessories to millennials.
  • Mr. Aman Gupta and Mr. Sameer came together and laid the foundation of the company in the year 2016.
  • In 2019, he won Business world Young Entrepreneur Award and was listed as an under 40 achiever in 2020.
  • Followed by 2020, he won Entrepreneur of the Year.
  • Later, in 2021 he won Lokmat Most Stylish Entrepreneur of the year. Similarly, he was listed in the Top Entrepreneur India tech 25 class in 2019.
  • His brand stood up a standard among World’s Top wearable brands. Finally, in 2021 he was listed in under 40 Economic Times.

Awards and Recognitions

The boAt founder Mr. Aman Gupta has received many awards. Let us look at those with the list below

NAME OF THE AWARDYEAR 
Business world Young Entrepreneur2019
Entrepreneur India Tech 252019
Super 30 CMO2020
Entrepreneur of the year2020
40 under 40 achievers in the business world2020
Lokmat Most Stylish Entrepreneur of the year2021
The world’s top 5 wearable brands2020
40 under 40 lists of economics Times2021

Interesting Facts

  • Generally, a company takes several years to endorse celebrities and personalities as their brand ambassadors. But if the brand is successful it is just matter of years. boAt is among them. From crickets to singers and actors boAt has on boarded famous personalities like Shikhar Dhawan, Hardik Pandeya, and KL Rahul to actors such as Jacqueline Fernandez, Kiara Advani, and Karl Tik Earl, the brand is touted.
  • If your brand is related to music, you need an ambassador for the music industry. Neha Kakkar and Diljeet Dosanjh, who are also Boat’s brand ambassadors, are two of the biggest stars in the music industry.  boAt has on boarded Actress Rashmika Mandanna for their wearables category and their women’s day campaign ‘#DanceThroughLife’.
  • Boat is a new brand in the market, but it has established itself in the same way that many other electronics brands have. A brand that is endorsed by a well-known figure, on the other hand, appears to be genuine and gets client trust. And it’s because of this that boAt has such a large consumer base.
  • IPL six teams collaborate on a boAt. The Chennai Super Kings, Royal Challengers Bangalore, Kings XI Punjab, Kolkata Knight Riders, Delhi Capitals, and Mumbai Indians are the six IPL clubs that boAt has announced its official partnership with this season. Limited-edition earbuds, headphones, and speakers inspired by the team’s emblem and design concepts were also released by boAt, bringing the stadium closer to fans. boAt sponsors the Sunburn Music Festival.
  • If the product is about music, how can a brand miss a music event? Tanning is Asia’s largest music festival, and boats sponsor this event. boAt is a part of another epic event, Lakme Fashion Week. At fashion events, brands are advertised as fashion accessories. The model walks the ramp with a boAt product. boAt has collaboration with Lakme Fashion Week. The brand has a large customer base in event marketing. 

Aman Gupta as an Investor

Aman Gupta was so far an active put in money before joining the reality show Shark Tank India. He has invested in many organizations and startups. Some of his speculations are listed here-

 

 

Shark Tank India has become one of the most popular shows among people these days. The energy, ideas, and—everything is top-notch. The co-founder of boAt, with his great marketing strategies, has made his products the top choice of all.

PeeschuteThe Renal Project
Hoovu FreshWickedGud
STAGEBummer
Gear Head MotorsShiprocket
Skippi Ice PopsWYLD
Very Much IndianAnveshan
LiciousAyuRythm
Floryo10Club
Jain ShikanjiBeyond Water
Namhya FoodsInACan
Revamp MotoFarda Clothing
NuutjobAriro
Raising SuperstarsAltor
BrainwiredBluepine Foods
LokaGrowfitter
Beyond WaterCOCOFIT
Beyond SnackChargeup
InACanFind Your Kicks India
EventBeepHammer

Marketing Lessons we can learn from Success story of Mr. Aman Gupta

  • “Being an entrepreneur requires you to surf through different turfs in one go.  This needs passion and love for what you are doing” – Quote by Mr. Aman Gupta.
  • He is one of those entrepreneur who has changed the mindset of the world, and introduced wearables which are in vogue today.
  • As all Business man Sets an example for everyone, Mr. Aman Gupta is now one of the coolest entrepreneur who has set example for many.
  • His perseverance, Dedication and Focus has paved his way to success. His enthusiasm and passion for music and music systems has helped him to achieve his dreams.
  • Nothing comes easy! Mr. Aman loves to Dream. He believed in his Dream and Had Goals in his Life.
  • He believed that irrespective of whether he achieves his Dream or Not, it is very important for one to try.
  • He always wanted freedom for his ideas and implementing them, well it became possible with his Entrepreneurship.
  • He was always inspired from his father. Since childhood he admired his father and wanted to be like him. He believed that before doing anything there must be adequate research and nothing should be done with the aim of self-benefit.
  • He always believed that in the journey of Entrepreneurship one should be genuine and work for the betterment of his society.
  • He wakes up with the aim to achieve something. Mr. Aman Gupta is a strong believer of the word “Karm” and every little steps will help him reach his goal.
  • More than that he is good leader. He believes that

A good leader does not have to be someone with authority. A good leader is someone who understands situations and people and also believes in his decision making.  A good leader is not someone who does not fail but someone who learns from failures.”

  • Aman Gupta has taught us not be afraid, Patience is important , Appreciate your Hard work, Do productive activities in free time and never do anything for yourself.
  • So in a way we can say that Mr. Aman Gupta is a personality where one can admire and can be role model for many.
View All