boAt strengthens leadership team; pay hikes and ramps up hiring by 50% during COVID-19
– Work from home (WFH), workout from home, the stadium at home, entertainment at home, and study from home has acted as catalyst and boAt has witnessed a 20% surge in demand for its products in COVID times
New Delhi, October 14, 2020
boAt – India’s No.1 mobile & audio accessories brand have added newer members to its leadership team, as it looks to expand its product offering across newer segments, strengthen its distribution & supply chain network and fortify the online presence. The team will be based out of New Delhi and Mumbai office, and work closely with the co-founders Aman Gupta and Sameer Mehta to ensure the rapid growth of the company.
In this time where employees have been given pink slips, boAt has ramped up its hiring and offered pay hikes to all its employees. The company currently has more than 100 members on its team across Delhi, Mumbai, and Bengaluru. boAt also rolled out salary hikes for all its employees as it registered a 20% surge in demand for its products in COVID times.
The company has appointed:
1. Sushant Dalmia as Chief Financial Officer – With over 16 years of experience
Sushant has worked across Pharma, Healthcare, Education, and Hospitality sectors leading the Accounting Operations, Taxation, Strategic Financial Planning, Merger & Acquisition, Fund Raising, and People Management. He has been an integral part of concluding successful M&A deals (>USD 200 mn) in the Healthcare and Education space. He is a certified CA, CFA (US), and has a Diploma in International Financial Reporting. At boAt, he is heading the finance function and working closely with the senior management team to streamline & restructure the vertical.
2. Damandeep Singh Soni as Vice President – Growth – A marketing maverick Daman has grown multiple products to 50+ million user base in record time. Earlier he was the CMO and growth head at Mobikwik, Milkbasket, and WeCash. He was also the India Head for LINE. He is also an advisor and consults many start-ups on marketing, growth, and India entry and their go-to-market strategies. Daman is an ISB alumnus and completed his Engineering from NIT Rourkela. At boAt, Daman heads growth and is building a team and systems to make boAt the largest consumer tech company in the country.
3. Divyanshu K as Vice President – Strategy – The Young Turk Divyanshu has been responsible for strategically transforming companies across sectors. An IIM-Indore and IIT alumnus, Divyanshu comes with more than 8years of work experience. At boAt, he will be responsible for driving the strategic initiatives for the next leg of swift and sustainable growth.
4. Pankaj Raut as Vice President – Supply Chain – Prior to boAt, Pankaj has worked for more than 14 years in companies like GE Energy, Robert Bosch, WNS Global Services and GEP Worldwide. He has an MBA in Supply Chain Management from Purdue University and a Bachelor's in Computer Engineering from MumbaiUniversity. At boAt he is focussing on driving a strong supply chain function. Avid interest in using technology to improve efficiency and effectiveness, he enjoys setting up new business practices and processes from scratch.
Speaking on the appointments, Sameer Mehta, Co-founder, boAt Lifestyle said, “We are excited to welcome Sushant, Daman, Divyanshu and Pankaj to our core leadership team as we enter the next phase of growth. They bring in a wealth of experience and best practices from global companies. The combined skills and experience give us huge confidence to scale up and in build a high-performance centric culture in the organization.”
boAt was founded in 2016 by Aman Gupta and Sameer Mehta. Since inception boAt’s financial performance has been strong and is EBITDA positive. It is one of the first digitally native brands in India to record a revenue of 500cr in FY19. The company has raised venture debt from Flipkart Co-founder Sachin Bansal’s BAC Acquisitions and InnoVen Capital and equity from Fireside Ventures to date.
boAt is a ‘Made for India’ lifestyle brand started in 2016 that deals in hi-quality aesthetically designed consumer electronics. boAt has been defying barriers in a sector dominated by established global brands and was recently ranked as the No.1 brand in the earwear segment, with around 20% market share as per the data released by leading IT market research and advisory firm International Data Corporation (IDC). It is one of the first digitally native brands to record a revenue of 500cr in FY19
boAt creates exceptional user experience across its extensive range of products of headphones, earphones, wearable (fitness bands), speakers, travel chargers & premium cables. The products are designed keeping in mind the preferences of listeners looking for stylish and quality products that are premium looking yet affordable and which resonates with their personality. In a short time span boat has built traction and has created a community of over 3 million boAtheads
(consumers). The company today sells more than 15,000 units a day.
boAt was founded by Aman Gupta and Sameer Mehta. The company has raised venture debt from Flipkart Co-founder Sachin Bansal’s BAC Acquisitions and InnoVen Capital and equity from Fireside Ventures to date.
For more information, please visit: https://www.boat-lifestyle.com/
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