Imagine Marketing — the parent company of earwear brand boAt and electronics manufacturing firm Dixon Technologies — on Tuesday announced a 50:50 joint venture to manufacture wireless audio products.
Both the companies will come together to co-invest in the evolving Indian mobile accessory market, thereby paving the way towards ‘Make in India’ in this category.
“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.
The joint venture is an important milestone in boAt’s journey to establish a manufacturing base in India.
The association will enable the companies to meet the evolving needs of customers by delivering high-quality and aspirational lifestyle-focused hearable solutions, backed by quality manufacturing and robust R&D.
“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.