Boult Rebrands as Goboult to position himself as a premium player before public mention

Appeal and portable device maker Boult has renamed itself Goboult because it seems to go to premium products before he goes for a public list, said a top official from the company.

Co-founder of Goboult Varun Gupta told PTI that the company has plans to go for a public list after 18 months and the rebranding is the key to improving the Bottom Line in the company’s financial book for a good first public offer.

“We have an internal target to go for an IPO, which will be from now on in 18 months. As soon as we have reached the RS 1,000-crore target, then we want to go for an IPO. This rebranding is also a gun because we want a very clear, defined identity, because once we go for a logo, he said,” he said.

The company in the 2024-25 financial year had a turnover of approximately RS 750 Crore and is expected to have RS 1,000-crore marking in the current tax.

Gupta said that Goboult started investing approximately 25 percent of the annual profit in research and development for the development of premium products with an average selling price (ASP) of more than RS 2,000 each.

“We want to be positioned as the most stable player we have had for a while. We realize that for growth and higher up in our ASPs and therefore have a better Bottom Line, we have to do new things to ensure that we can control a premium for our customers. In general, to see a better Bottom line for an IPO, we also had to go for this Rebrandinging. Gupta said that Goboult will follow an Omni-Channel strategy instead of just being dependent on e-commerce companies. “The word” go “simply shows that it is more young, more energetic, more powerful, and that is why we have added this. Secondly, we also realize potentially to go to offline channels and as a company that now focuses more on becoming Omni-Channel,” he said.

Gupta said that in the last 15 months Goboult has now had more than 38 distributors and already live in more than 3,000 stores in the country.

“We want to go to more than 30,000 stores in the country, where the largest player in this category is already present,” he said.

Goboult, formerly Boult, was the third largest player in the portable category with 8.6 percent market share according to market research agency IDC.

The company was the second largest in the TWS category (wireless earbuds) and celebrated in the Smartwatch segment in 2024 in India according to the research agency.