Noise booms in the wearable space in India
In a recent conversation with YourStory’s Daily Dispatch powered by HSBC, Gaurav Khatri, Co-founder of Noise, discussed how the company has evolved in the wearable sector, as well as talked about future expansion plans.
Consumer electronics brand , which started by selling smartphone accessories, has evolved to become one of India's biggest smartwatch brands. According to a report by Counterpoint Research, it led the market in 2021 with a 27 percent market share and showed over 278 percent year-on-year (YoY) growth. The report suggests that four of the top ten models in the year were from Noise.
In an episode of YourStory’s Daily Dispatch, Gaurav Khatri, Co-founder of Noise, discussed how the wearable sector has exploded in India recently, and how Noise has been at the forefront of this growth. This category accounts for 70 percent of the company's overall sales, he said.
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In terms of growth goals, he stated that the company is aiming to double the growth in the coming year. It is targeting a revenue of Rs 850 crore by FY23.
“Audio is going to be a big lever for our growth, along with the wearables,” he said.
Going forward, the company would continue to focus on the wearable and audio categories while also attempting to expand geographically. The company also intends to enter the eyewear segment.
Noise, which is presently available in 4,000-6,000 offline stores, is expected to penetrate deeply into the offline space. The first stage of expansion, according to Gaurav, would come from already existing offline partners and retailers. There are plans to open experience centres in select locations as well.
According to some media reports, Titan was recently speculated to be interested in acquiring Noise. Gaurav dismissed it as a rumour and indicated that future partnership plans for Noise would be dependent on the types of opportunities that arise.
Edited by Kanishk Singh
