Goboult’s Big Bet on Premium Wearables: Inside Its Rs 3,000 Cr Revenue Dream and 2027 IPO Plan

In India’s crowded smart wearables market—where price wars are fierce and margins are thin—only a handful of brands are attempting to swim upstream. Goboult wants to be one of them.

The smart wearable maker is no longer content with just selling affordable gadgets at scale. Instead, it is now charting a much bigger, bolder journey—one that blends premium design, higher price points, international ambitions, and a clear countdown to the public markets.

Over the next four years, Goboult is targeting more than three-fold growth in revenue, with an ambitious goal of touching Rs 3,000 crore by FY30, powered by premiumisation, deeper channel expansion, and overseas markets. The endgame: a public listing by 2027.

Speaking on the sidelines of the launch of its Mustang-led range of wearables, Goboult co-founder Varun Gupta outlined how the company is methodically ticking off the milestones it set for itself well before dreaming of ringing the IPO bell.

The Startup IPO Buzz Is Back

From Volume to Value: Why Premiumisation Is Central to Goboult’s Strategy

Goboult’s evolution has been deliberate.

According to Gupta, the company had defined three clear checkpoints before heading towards an IPO—rebranding the company, moving decisively towards premium products, and crossing the Rs 1,000 crore revenue mark.

Two of those boxes, he says, are already close to being checked.

“In FY26, we are nearing a Rs 1,000 crore revenue,” Gupta said, adding that the company rebranded itself as Goboult around six months ago. The next—and perhaps most crucial—shift has been towards premiumisation.

That shift is now visible in the products.

Goboult recently unveiled three Mustang smartwatches and one TWS, launched as part of a broader, multi-product roadmap under its partnership with Mustang. These devices are designed to capture the spirit of the iconic Mustang brand, not just in aesthetics, but also in build quality, materials, and overall product experience.

More importantly, these launches are pushing Goboult’s average selling price (ASP) up by 20–30% compared to its usual offerings.

“There has been a consistent endeavour in the last six months. All the launches we have done have ASPs that are 20–30% higher, with better tech specifications, stronger design sensibility, and improved materials quality,” Gupta noted.

For Goboult, premiumisation isn’t about abandoning scale—it’s about improving margins while continuing to grow.

The Road to Rs 3,000 Crore: Growth Levers Identified

Goboult’s Rs 3,000 crore revenue target isn’t a vague aspiration. The company has mapped out clear levers to get there.

The plan is to grow at around 30% year-on-year, which, according to Gupta, should take the company to the Rs 3,000 crore milestone by FY30.

Key growth drivers include:

• Higher-priced premium products, including collaborations like the Mustang range

• Channel expansion, with a sharper focus on both D2C and offline retail

• Deeper penetration across existing sales channels

• International expansion, particularly in Europe, the US, and Southeast Asia

A major boost is expected from the India–European trade opportunity, which Goboult plans to tap as it takes its newer, premium products overseas.

“We are planning to go international with the new India European deal,” Gupta said, adding that the company also intends to launch its products in the US and Southeast Asian markets.

IPO on the Horizon: Summer 2027 in Focus

With scale, branding, and premiumisation coming together, Goboult has now placed a marker on its IPO timeline.

“We are looking at an IPO somewhere in the summer of 2027,” Gupta said.

By then, the company aims to present itself not just as another wearable brand, but as a more mature consumer electronics player with diversified channels, stronger margins, and global ambitions.

If Goboult manages to execute on its roadmap—scaling premium offerings, expanding internationally, and sustaining 30% annual growth—the IPO could mark a significant moment for India’s homegrown wearable ecosystem.

Goboult’s journey reflects a broader shift underway in India’s consumer tech landscape. As competition intensifies and entry-level products become commoditised, brands are being forced to rethink their playbooks.

For Goboult, the answer lies in moving up the value chain, investing in brand-led collaborations, and looking beyond Indian borders—all while keeping growth firmly in sight.

Whether it can successfully balance scale with premium aspirations remains to be seen. But one thing is clear: Goboult is no longer playing just for survival—it’s playing for significance.

And the countdown to 2027 has already begun.