Boat, one of the rising Indian Brands, on Friday announced that Vivek Gambhir will join its operations as New Chief Executive Officer(CEO). Boat is known for its consumer-oriented audio products. Gambhir was earlier working with Godrej as Consumer Products Executive.
Vivek Gambhir Joins Boat
Gambhir will join co-founders Aman Gupta and Sameer Mehta to accelerate company growth further. In his previous job at Godrej, Gambhir helped the company to grow internationally. Under his leadership, Godrej saw a surge in its global operations. He also changed the work environment to make more profit.
Gambhir has rich experience in the FMCG area. He was also the founding member of Bain & Company. It is known for the consulting activities worldwide. Initially, he looked at the consulting operations of the firm in India. Later, he worked in Boston and Singapore under the same company.
Boat co-founder Aman has very high expectations from Gambhir. He also praised Gambhir for his extraordinary career journey.
“Gambhir is an industry veteran and has a proven track record in growing organizations, improving operations, and delivering stellar returns to stakeholders,”
Boat has already established its name in consumer tech products. With the help of the new CEO, the company plans the next phase of growth. The company looks to benefit from the rich experience of Gambhir.
Gambhir also showed great happiness in joining the Boat. He said that the company has already shown amazing growth in past years. He also feels that it just the beginning. There are a lot more possibilities to grow in the future.
Gambhir further added that as a team, we will more focus on innovation. The company will also look for new opportunities to grow further. Since the company environment plays a great role in firm growth, we will build a unique supportive culture to grow together.
Boat Growth, Future Plans, and Other Details
Boat earned a total revenue of Rs 500 crore in the fiscal year 2020. It was a 108% growth from the revenue of FY2019. The company sells different audio products like headphones, speakers, earphones, etc. It also started selling chargers, cables, and smart bands.
The current pandemic helped the company to earn more revenue due to the work from home culture. Its products like headphones, speakers, and earphones were in demand due to their strong connection with online video/audio calls.
The company plans to double the revenue by FY2024. Company growth in pandemic was so high that it increased the hiring 50%.
Boat was founded in the year 2016. It’s the largest wearable brand in India. At the global canvass, Boat stands strong with 5th rank among the most wearable tech brands. In January, it received fresh funding of $100 million from a New York-based investor. Boat claims to sell 12000-15000 units a day. Currently, it has a total of around 150 employees.