Homegrown brand Fire-Boltt invests in Vietnam to boost growth

New Delhi, March 9 Homegrown smart wearables brand Fire-Boltt on Thursday said it has invested $1 million in the Vietnam market.

The company recent forayed into the South-east Asian market, where it commenced its operations in Singapore and Vietnam region.

With this investment in Vietnam, Fire-Boltt said it aims to boost its operations in the country and gain a strong foothold in the market.

"Just like India, Vietnam is also a price-sensitive market so our target is to provide the most affordable and feature-loaded products to our consumers, without compromising on quality," said Arnav Kishore, Founder and CEO at Fire-Boltt.

Fire-Boltt has a strong presence in the Indian market and is among the top four best-selling smartwatch brands globally.

Fire-Boltt is incubated and backed by Savex Technologies in the country.

For its Singapore and Vietnam operations, Fire-Boltt has partnered with SmartechSG Pte Ltd.

"Fire-Boltt products are packed with the most advanced features and considering the average income of Vietnamese people, their prices are extremely reasonable," said Nguyen Chu Minh Duc, a company spokesperson.

"Fire-Boltt is also planning to expand its operations to Indonesia and Malaysia in the coming months", he added.

In 2022, Fire-Boltt came fourth in the India market, with a strong 250 (on-year) growth and shipping 2.2 million units, according to IDC.