A consumer electronics company Boult is in talks to double its revenues in FY24 to Rs 1,000 crore on offline expansion and for bolstering its footprint in new business segments. The digital-only brand is now focusing on building its offline distribution this year, especially in smaller towns and cities.

Boult is scaling up its in-house manufacturing capacity from three lakh to four-five lakh units and shifting to a newer manufacturing facility at Manesar, Haryana. The company manufactures about 40 percent of its products at its factory and 60 percent from India-based manufacturers.

The company is engaged in products such as TWS earbuds, headphones and smartwatches, and expects 12-15 percent of sales to come from offline channels in the first year. Also, it has set its next target on foraying into home audio and IoT-connected devices segments by August 2023.

Boult is planning to build strong distribution across large format stores, modern trade and general trade stores. Moreover, the company seeks to be live at about 3,000 outlets by the end of 2023.

The company expects to accumulate around Rs 600 crore from the audio segment, about Rs 300 crore from the smartwatches segment and nearly Rs 100 crore from the new categories of products. Further, it has marked its footprints in the US and UK and has mapped out five other international markets to expand its presence.