Noise cemented its leadership in the smart wearables industry, announcing a record YoY growth of over 100%. The company has closed FY’23 with a revenue of over INR 2000 crores with the aim to double down the success in the next fiscal year. Noise is projected to sustain a robust growth momentum of over 70% next year, through a combination of volume and pricing growth.
The company recorded an unwavering upward growth across both smartwatches and TWS segments, with smartwatches contributing to 80% of its total growth. During this period, Noise diversified its product portfolio mix across categories such as Noise ColorFit Pro 4 in its flagship series, Noise Champ 2 in the children's category, Noise ColorFit Pulse 2 Max, and Noise ColorFit Caliber among other top smartwatch launches along with Noise Buds VS102, Noise AirBuds Mini, Noise Buds VS104 in the TWS category. Furthermore, in a bid to strengthen its innovation efforts, the brand introduced Noise Labs, an in-house technological incubator, which conceptualized and launched two marquee products- Noise i1, a smart eyewear, and Noise IntelliBuds, a gesture-controlled TWS.
Throughout the year, the brand remained steadfast in its Make in India initiatives, with over 95% of Noise’s production already happening in India. Furthermore, Noise was also the first homegrown brand to ship over 3 million made-in-India smartwatches, reaffirming its commitment to leading the country's vision of making India a global manufacturing hub.
In its endeavor to be present wherever consumers are, Noise expanded its offline footprint to penetrate its roots deeper into Bharat. It maintained an 80:20 ratio for its online and offline channels nationwide and further aspires to cultivate strategic alliances that will facilitate broader audience outreach. Moreover, their efforts to fortify organizational growth strategic measures were reinforced to augment its workforce, recording a current strength of over 400 employees.
The brand has also successfully etched its name as the leading smartwatch brand in India for three consecutive years, reaffirming its position as a category leader. Not just in the country but it is also the 4th biggest wearable seller globally, being the only Indian brand to have been recognized at this level. Additionally, Noise has consistently demonstrated its prowess and is scripting a successful playbook of a bootstrapped business operating in a heavily-funded ecosystem.
