boAT to increase local manufacturing

26 Sep 2022 , 09:36 AM

Imagine Marketing, the parent company of the wearables brand BOAT, has solidified plans to become a Made-in-India global lifestyle brand by expanding its international reach.

A Rs 1100 crore public offering, of which Rs 1100 crore will be a fresh issuance and the other Rs 200 crore an offer for sale, is currently pending regulatory approval.

Under its “Make in India” strategy, the business plans to produce 60 lakh units (almost twice as many as it currently produces) in H1 of FY23 and scale it further as demand and market reach increase, which would also enable it to introduce goods more quickly and at a lower price.

Imagine Marketing, founded in 2013 by Aman Gupta and Sameer Mehta in Mumbai, offers a product portfolio that includes everything from smartphone accessories and audio equipment to smart wearables and personal grooming goods.

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