Singh has invested an undisclosed amount in Boat, becoming a key stakeholder
New Delhi: Bollywood star Ranveer Singh has invested in the fast-moving electronics goods (FMEG) brand Boat, a release by the company said earlier this week.
With the investment, Singh has become a key stakeholder in the company, the release added.
“Ranveer’s infectious energy and passion for music resonate perfectly with Boat’s core values,” said Aman Gupta, co-founder, and chief marketing officer (CMO), Boat.
“His investment and strategic involvement validate our mission to revolutionise the audio experience in India. Together, we’ll push boundaries, redefine sound, and create a community that thrives on passion and innovation,” Gupta adds.
This collaboration sets the stage for Singh’s pivotal role in Boat’s upcoming campaign for the ‘Nirvana series’ sub-brand offering premium & superior audio products which include TWS, and headphones crafted for the ultimate listening experience.
Founded in 2016 by Sameer Mehta and Aman Gupta, Boat invests heavily in research and development (R&D) to ensure the tech, quality, specifications and user experience of its products. Boat currently has an R&D team of 40 people working on its audible products while its double is working in the R&D team on its wearable products. The company plans to take on the world market with India-designed, India-developed products, shouldering even bigger challenges.
Boat sells a lion’s share of its products through online channels that account for about 68% of its total sales. About 27% of business comes through its network of about 30,000 mom-and-pop stores and it has enlisted distributors in most of the major cities.
