Fire-Boltt invests $1 million in Vietnam

By

Maverick Martins

Published
Mar 9, 2023

Indian smart wearables brand Fire-Boltt has invested $1 million (Rs 8 crore) to expand its presence in the Vietnam market.

The brand had entered the Southeast Asia market by launching in Singapore and Vietnam. To strengthen its market presence in these countries, Fire-Boltt has partnered with technology distributor Smartech SG Pte Ltd.

Fire-Boltt aims to replicate the India model in these markets and banking on its affordable pricing coupled with its latest offerings to boost sales.

The brand plans to further expand its presence in this region by entering Indonesia and Malaysia in the coming months.

Commenting on the investment, Arnav Kishore, founder CEO at Fire-Boltt in a statement said, “We see Vietnam as a high-potential market for us. The investment will boost our operations in Vietnam and help us to gain a strong foothold in the region. Just like India, Vietnam is also a price-sensitive market so our target is to provide the most affordable & feature-loaded products to our consumers, without compromising on quality.”

Nguyen Chu Minh Duc, spokesperson for Smartech added, “My desire is to contribute to improving the health of everyone and I believe Fire-Boltt will become an effective companion for sports enthusiasts in Vietnam. Fire-Boltt products are packed with the most advanced features and considering the average income of Vietnamese people, their prices are extremely reasonable.”

Fire-Boltt is an Indian company with a strong presence in the smartwatches segment. The brand claims to be among the top 4 best-selling smartwatch brands globally.