Homegrown Indian Brand, Heavy on Feature, Low on Price
Fire-Boltt has risen to the top of the wearable watches category in just 15 months. The company, led by a youthful team of co-founders, Arnav Kishore and Aayushi Kishore, has strongly resonated, positioned itself as youth-oriented and established a strong resonance with its target audience. By building solid in-house skills, creative product offerings, technical superiority, and successful relationships with online e-commerce partners, retailers, and distributors, the indigenous brand has established a position for itself in the country.
Hello Entrepreneurs had an exclusive chat with Arnav, a sports enthusiast and an international tennis player, at a very young age. Combining his passion for sports, technology and entrepreneurship, he is now exploring the world of wearable technology and heading Fire-Boltt, an innovative wearable tech company.
Q – Tell us something about Fire-Boltt?
Arnav Kishore – Started in 2015 with a vision to provide people with the best-in-class products made with superior quality technology in smart wearable devices, Fire-Boltt has been a frontrunner among brands manufacturing audio and wearable devices. In the last couple of years, we have enhanced our portfolio with products developed with the latest technology at competitive pricing.
Over the years, we have evolved our brand and product portfolio to offer the latest cutting-edge technology and premium quality products in the most affordable price range. Unique marketing initiatives and increasing product accessibility through organic routes have helped us carve a niche in the market in an industry that globally established brands dominate.
Fire-Boltt has officially been adjudged as the undisputed leader in the wearable watches market, according to the latest International Data Corporation (IDC) report. The brand has claimed the number 1 spot, captured a market share of 24.6%, and registered a 200 times YOY growth despite the industry growing at a stagnant pace. Fire-Boltt grew by 47.5% quarter-on-quarter and sold 916,765 units compared to 628,789 units, while the overall industry de-grew by 25% approx.
Q – What was the common thing that struck the founders to starting this venture together?
AK – We saw a gap between the amalgamation of fitness & technology. I was an athlete all my life, and during my training time, I used to wear several trackers, including a Garmin. Achieving my goals was a big problem for me, and it wasn’t easy to keep track of all my records and try to use the data. That’s when this idea of being able to capture data intuitively came to life with Boltt. So, you can say that the passion for developing trendy products, premium quality and technologically advanced to track your fitness levels has been the fundamental force that binds us here at Fire-Boltt. Over the years, we have witnessed that consumers look forward to the products which come with advanced technology and innovation at an affordable price. Keeping this in mind, we started developing solid in-house capabilities, innovative product offerings and technical superiority in the budget category. And with determination and commitment to offering the best of technology, Fire-Boltt became the biggest name in the wearable category within 15 months.
Q – What are the USPs that set the brand apart from the competition in the market?
AK – Fire-Boltt, since its inception, has been at the forefront of technological advancement and innovation, which has helped develop products that have become an integral part of many Indians. Product is the hero for any brand. We make each & every product with equal importance & in terms of interest, the product comes first for both Aayushi & me. We strongly believe that if the product experience is exceptional, then your brand experience will also be excellent. A wholesome experience further enhances this practice that the customers are provided with even after the product is delivered, an aftersales experience. The real differentiator leading to our phenomenal growth is the launch of over 30 smartwatches in the last six months. It catapulted by building a strong sales network so that consumers can easily ‘access’ our products from different parts of the country. We have partnered with effective alliances – online e-commerce platforms, retailers and distributors to ensure consumers can buy the products anywhere in the country.
Q – Can you throw some light on future trends in the smart wearable watch market?
AK – Today, customers are well aware of the latest technology and innovation in the market. While purchasing a product, they require something that can fulfil their need at a reasonable price with the best technology. We have witnessed the wearable industry growing at a rapid pace globally. With significant breakthroughs happening in all aspects of technology, taking cues from these developments, in the foreseeable future, the demand for features that can be used in specialized sports such as swimming, underwater diving, mountaineering, etc., will increase exponentially. Smartwatches with an in-built GPS feature that can help navigate and track the trail is something more and more customers are looking forward to. We at Fire-Boltt focus on giving our product an elevated aesthetic look. We will come with hybrid smartwatches that will make them fashionable and technologically well-equipped.
Q – Lastly, what is the mission of the company?
AK – We here at Fire-Boltt want to be the technological disruptor in the smart wearable industry and not just do business but also own the space of the wearables segment not only in India but across the globe.