Brothers Amit and Gaurav Khatri, the founders of Noise, initially ventured into the smartphone covers and accessories market in 2014. However, in 2018, the company underwent a significant shift by entering the competitive market of smartwatches and wireless earbuds. Today, Noise has emerged as one of the prominent players in the Indian smartwatch segment, carving out a substantial market share.
With an impressive growth trajectory, Noise has experienced a remarkable 17X expansion in the past 30 months. The company has successfully expanded its presence to over 8,000 offline outlets. In 2021, Noise seized a 27% market share and achieved a staggering 278% year-over-year growth in the smartwatch category, as highlighted in a recent Counterpoint report. The brand’s portfolio expansion, affordable pricing strategy, emphasis on community building, customer-centric product design, and strategic alliances played instrumental roles in securing its position as the market leader. Notably, Noise proudly claimed four out of the top 10 models in the smartwatch category for 2021, an exceptional achievement for a homegrown, bootstrapped company.
Industry experts attribute the brand’s success to its diverse and affordable range of products. When asked about the driving factors behind the company’s growth, Gaurav Khatri emphasized their deep understanding of consumer preferences and addressing market gaps. Amit further added, “From the outset, our brand has always prioritized our consumers. As a direct-to-consumer brand, we maintained close communication with our customers to comprehend their needs. This enabled us to stay ahead of market trends and deliver innovative products with the right design.”
Unlike many competitors, Noise has adopted a frugal marketing approach, with a strong focus on performance marketing. The company has established noteworthy partnerships, such as the exclusive collaboration with Bragi, where Noise introduced an intelligent range of audio devices powered by Bragi OS in India. Additionally, Noise partnered with HRX to launch a range of Fitness Trackers and associated with SBI Card for the ‘SBI Card PULSE’ program, offering a Noise ColorFit Pulse Smartwatch as a welcome gift for cardholders upon enrollment.
To generate excitement and enhance consumer trust, Noise has enlisted popular brand ambassadors like Taapsee Pannu and Rishabh Pant. These partnerships have not only increased brand visibility but also accelerated consumer trust. Furthermore, Noise has actively worked on fostering a vibrant community around its brand.
Gaurav explained, “For any new direct-to-consumer brand, earning trust during the initial phase is always challenging. However, in the past two years, people have become more confident in making online purchases. By having brand ambassadors on board, we gained substantial trust and confidence from consumers.”
According to IDC, Noise maintained its leadership in the Wearable Watch market, capturing a 27.0% share of shipments in 2021. It also continued to lead in Q4FY21 for the seventh consecutive quarter. The co-founders revealed their projection of achieving a net revenue of Rs 850 crore in FY22. Amit emphasized the potential for further growth within the current segments, which are still in a growth stage in India, targeting a 50% growth rate for the year. Furthermore, Amit expressed his ambition to transform Noise into a global, connected lifestyle brand, rather than confining it to the Indian market. The company has already begun testing international markets, aligning its focus on design, research and development, and consumer-centricity to fuel future growth.
Amit concluded by stating, “Over the years, we have witnessed the influx of many international brands in India. Our goal is to break through the clutter and establish Noise as a global lifestyle brand offering exceptional products at the right price.”
In summary, the journey of Amit and Gaurav Khatri’s Noise has been a remarkable one, characterized by its evolution from smartphone covers to becoming a dominant player in the Indian smartwatch market. Through their deep understanding of consumer needs, emphasis on community building, strategic partnerships, and customer-centric approach, Noise has successfully carved out its place in the industry. With a vision for global expansion and an unwavering commitment to innovation and affordability, Noise is poised to become a significant player in the connected lifestyle segment.
