In 2015, Arnav Kishore set up www.fire boltt.com along with his sister Aayushi. They rolled out a blueprint so that the business could go on. The best part about the venture was that they managed to tie up with Chinese manufacturers to sell the innovative brands at an affordable rate of INR 1,999.
Then, there were other prominent market players like Micromax and some domestic or local brands in India. The aim was to import it from China, brand it in India, and sell it at home. This concept was what Kishor tried to ape and succeeded in the same. This approach for www.firebolt.com proved a sure shot and hit the bull’s eye.
Why Did www.fireboltt.com Enjoy an Edge Over Others ?
The brother-sister duo enjoyed an edge over the others because Fire BoLtt has the backing of Savex Technologies, which happens to be the third-largest IT and telecom product distributor based in Mumbai. This meant that Kishor could piggybackride on Savex’s extensive retail network. In short, it implied success. He enjoyed being the right person at the right time, offering the right product.
Resilience and Reinvention: The Triumph of Fire Boltt
However, the success of www.fireboltt.com lost momentum since other market participants like Xiaomi were selling their products like hotcakes. Moreover, not many Indians were convinced to buy smart wristbands from Fire Boltt. Also, the Chinese profoundly influenced the phone and band markets, and this scenario did not let Kishor’s company stand.
However, as things grew gloomy, Kishor did not lose hope and enthusiasm for once. He knew things would turn around. And it did. His optimism paid off after a year. He decided to retake the plunge at the time of the pandemic lockdown. He introduced the smartwatches to the people for as low as INR2, 999. This let him end up with a meager market share of 0.3%. He did not give up on www.fireboltt.com and kept a tab on the market trends.
In 2021, he fine-tuned his approach and strategy. The Ninja series was introduced in the market for INR 1,699. Many celebrities were roped in for marketing and promoting the products. These included Vicky Kaushal, followed by Virat Kohli and Shubhman Gill. He added certain features to his products or smartwatches, including Bluetooth calling, heart rate monitoring, and bigger screens for display. With these strategies and efforts, the market share of www.fireboltt.com skyrocketed to 11.6% in 2021 from a mere 0.3% in 2020.
Following this success, the company did not have to look back much. With the launch of its Noise series, the company emerged as one of India’s most sought-after and popular smartwatch brands, with a market share of 28%. This was furnished as per data provided by Counterpoint Research.
Identifiably, three factors helped the brand www.fire boltt.com to leap. These include rolling out unique features, enhancing the brand’s offline presence, and a series of launches.
