Towards the end of 2017, cousins Gaurav and Amit Khatri (Amit and Gaurav Khatri) were looking for their entrepreneurial exploration. Noise, an initiative he started in 2014, started a business selling mobile covers and accessories and it was going well but he was not happy about it.
Amit Khatri, co-founder, Noise, said, “It was a good business in terms of sales and profits, but we soon realized we had no brand. At the same time, we have seen a sudden change in the mobile accessories market, where the average selling price (ASP) of mobile covers and accessories is declining at an alarming rate. The unorganized market saw many local and small players and the product category was tagged as a product rather than a necessity of life, ”he said.
Towards the end of 2017, he created the final pivot that would revolutionize Noise. Being in the mobile accessories business, he was made aware that products from wireless audio products, smartwatches and smartphone ecosystems are being sold like hotcakes. There was a lot of interest and demand in the Indian market but quality offers were needed worldwide and deep pockets.
Amit recalls, he said we were driven by the learning experience. We have decided to keep in mind the aspirations of our consumers and create ambitious products to scale with the right quality and price. This has enabled us to create an ecosystem of different products that meet the different needs of our customers.
Noise with 27% market share in the wearable (an electronic device that can be worn as an accessory) segment in India, ending FY21 (2020-21) with an annual revenue of Rs 373 crore. According to the report.
Meanwhile, APAC (Asia-Pacific) ranks third among the top 9 smartwatch brands worldwide in terms of noise and shipments, according to Counterpoint Research. The story of how he created this brand. As a growing D2C company, they are approached by loyal investors. Although, to this day, they have never felt the need for outside support, they are not against it.
Whenever the company decides to make that decision, it will join hands with partners who are aligned with their vision and “can be a true partner in our journey to make Noise a global connected lifestyle brand.” Currently, Noise employs approximately 275 people directly and has a partnership with Optimus Electronics Limited (OEL).
A wholly owned subsidiary of Noida-based Optimus Infracom Limited enables the company to offer custom-made gadgets to Indian users. Amit said, “Looking to the future, we want to grow our energy aggressively and turn it into a global integrated lifestyle brand. We will do this by doubling design technology, research and development and global expansion. And hopefully we will succeed. “