Indian brand boAt Lifestyle, the manufacturer of headphones, earphones, speakers and smart watches, has decided to move its supply chain from China to India as the company suffered massive losses after the supply from China was disrupted owing to the pandemic.
The boAt has received an investment of $100 million from US-based private equity major Warburg Pincus.
They intend to use the proposed PLI scheme for wearable makers.
The Times of India reported that boAt made nearly Rs 700 crore in the year ended March and will make nearly Rs 1,000 crore this fiscal year.
Primarily started as a seller on Amazon, they want to expand their offline channel by establishing their own platform for a wider direct-to-direct consumer play.