The past few years have seen a boom in companies manufacturing smart consumer wearables like Bluetooth headphones, smartwatches, and more. Competing in a market where giants like JBL, Bose, Sony, Realme, and others have secured a tight spot, takes a lot of willpower, perseverance, and quality. Noise is one such consumer electronics brand that has carved a niche for itself in this industry and with a bang! Today, Noise sells Rs 25cr worth of Bluetooth earphones, and consumer electronics every month. Read on to know further about the founders, their business model, revenue, and future plans.
About Noise
Noise is a Gurugram-based company founded in 2014 by cousins Gaurav Khatri and Amit Khatri. Originally a pilot, Gaurav saw an opportunity in the booming market for smartphone accessories and decided to venture into the segment. Amit, a fashion management professional and supply chain partner for international brands, joined Gaurav in the business. Together, they invested their savings of Rs 7.18 crore ($1 million) to start Noise. The company specializes in designing and manufacturing smartphone cases, covers, Bluetooth earphones, and other electronic accessories.
Back in 2017, when Noise was operating in the mobile accessories market, it generated sales of around Rs 24 crores. At that time, they were a bootstrapped and profitable company. However, after they pivoted to smartwatches, their growth rate increased rapidly.
With the rise of e-commerce giants like Flipkart and Amazon India, Noise quickly established itself as a leading player in the Indian market. Today, the company has a wide range of products available online and in stores across India. Noise has also expanded globally and is now present in several countries, including the United States and the United Kingdom. The cousins’ shared vision and passion for entrepreneurship have driven the success of Noise, making it a household name for tech-savvy Indians.
About the Founders
The founders of Noise, Gaurav Khatri and Amit Khatri, did not come from a business background but shared a strong desire to start their own venture. Amit grew up in Bikaner, Rajasthan, and pursued his passion for design by studying at the National Institute of Fashion Technology (NIFT), Hyderabad, after finishing high school. Meanwhile, Gaurav went on to become a commercial pilot after finishing school and later pursued business studies. Despite their different paths, they both had an entrepreneurial spirit and eventually came together to start Noise in 2014.
Business Model
The business model of Noise is centered around providing value-for-money products that offer a good customer experience. They work with original design manufacturers (ODMs) in China known for their experience in delivering quality products for renowned brands. The in-house R&D and design teams at Noise collaborate with the ODMs to finalize the products, which are then shipped to India. By working with efficient Chinese factories and reducing their margins, they offer products at lower prices than competitors, which has helped them stay competitive in the market.
Marketing Strategies
Noise targets millennials between 18 and 35 years living in metro cities who are early adopters of technology. Their marketing strategy includes focusing on customer feedback to develop and launch new products regularly. Their best-selling products are priced between Rs 3,000-Rs 5,000, and they have a customer base of one million. Noise is one of the leading brands in the truly wireless Bluetooth earphones and smart wearables segments.
The company is slowly expanding its reach to Tier II and III markets through offline selling and plans to partner with large-format retail stores to boost its presence. The shared vision and passion for entrepreneurship of the founders, Gaurav and Amit Khatri, have driven the success of Noise, making it a household name for tech-savvy Indians.
Noise has been frugal in its marketing approach, focusing more on performance marketing rather than traditional marketing techniques. The brand has also forged interesting partnerships with companies like Bragi to launch an intelligent range of audio devices powered by the proprietary Bragi OS in India. In addition, the company partnered with HRX to introduce a range of Fitness Trackers and associated with SBI Card to offer a Noise ColorFit Pulse Smartwatch as a welcome gift to cardholders who pay the enrollment fees for the newly launched ‘SBI Card PULSE.’
To build excitement and win consumer trust quickly, Noise has roped in brand ambassadors like Taapsee Pannu and Rishabh Pant, which has helped the brand gain attention and credibility. The company has also been actively building a community around its products. According to Gaurav, winning trust is difficult for any new direct-to-consumer brand, but with the shift towards online buying and the addition of brand ambassadors, Noise has successfully gained consumers’ confidence.
NoiseFit App
In order to establish a robust customer community, Noise has focused on maintaining a strong online presence through its NoiseFit app. The app allows smartwatch buyers to interact with the brand and its community through various features and virtual marathons, helping to build and strengthen the brand-consumer connection.
Future Plans
According to the statements made by Gaurav Khatri, the CEO, and Amit Khatri, the Managing Director, Noise plans to continue providing customers with the best technology and innovations. They aim to launch new products to keep up with the rapidly-changing world and to strive towards making their journey even better. The brand also plans to expand its reach to Tier II and Tier III markets through offline selling and tie-ups with large-format retail stores. Additionally, aggressive marketing campaigns are on the cards for both online and offline markets. By 2023, Noise wants to reach over Rs 500 crore in annual net sales. In short, Noise plans to continue providing customers with high-quality, value-for-money products, while expanding its reach and sales.
Final Thoughts
Many companies today believe in the ‘bootstrapped’ concept that allows them to invest and re-invest in the company without having to worry about loans and installments. The ‘Striking the iron when it red hot’ philosophy of the founders, their belief in bootstrapping, and their sheer passion for smart wearables have skyrocketed Noise to where it is today. With many more tech-savvy concepts and ideas in toe, we can see Noise scaling to unreachable heights in the near future!
