A 50:50 joint venture was announced Tuesday between Imagine Marketing, the parent company of the earwear brand boAt, and electronics manufacturer Dixon Technologies.
These two companies will join forces to develop the Indian mobile accessory market, paving the way toward ‘Make in India’ in this sector.
“Ramping up domestic production will significantly help in enhancing India’s share in the global markets contributing to the vision of an Aatmanirbhar Bharat. It will also give an impetus to build in-house design capabilities and to develop lifestyle-oriented products to delight our ‘boAtheads’,” Sameer Mehta, Co-founder, and Chief Product Officer, Imagine Marketing Pvt. Ltd said in a statement.
In its journey to establish a manufacturing base in India, boAt’s joint venture is an important milestone.
As a result of the association, the companies will deliver aspirational lifestyle-focused hearable solutions backed by high-quality manufacturing and research and development.
“Through our partnership, we aim to provide boAt with a faster ability to scale up manufacturing in India with our low-cost structure, high quality, and superior execution track record. We strive to develop innovative products with boAt for not only the discerning Indian consumers but also for global markets,” Atul B. Lall, Vice Chairman and Managing Director, Dixon Technologies Limited, added.
(With inputs from IANS)