Homegrown smart wearables brand Fire-Boltt on Monday announced that it has forayed into the Indonesian market as a part of its expansion strategy in the Southeast Asia (SeA) region.
"The brand made this move within a few months of venturing into Singapore & Vietnam and investing $1 million in the SeA markets," the company said in a statement.
It further mentioned that being the number two smartwatch brand globally, it is keeping up its promise of spreading quickly across the globe.
SeA is the key pillar of the brand’s global expansion strategy as it is one of the fastest-growing regions in the world.
“We see SeA region being one of the high-potential markets for us and within the region, Indonesia will be our key focus. We can draw many parallels between the Indian and Indonesian markets in terms of demographic, customer preferences, etc," said Arnav Kishore, Founder & CEO at Fire-Boltt.
"Our initial research and feedback have shown that Indonesian consumer looks at affordable & feature-loaded products. We are working with a local team to understand market dynamics and bring those learning to our product portfolio.”
The smart wearables brand is incubated and backed by Savex Technologies in India, which is the country’s third-largest technology distributor.
For its Indonesia operations, Fire-Boltt has partnered with PT.INDO SMART TECHNOLOGIES.
"Our country has 55 per cent of the population in the age group of 20-60, and is increasingly becoming health & fitness conscious, Fire-Boltt provides them the option," said Judah Filah, DIREKTUR at PT.INDO SMART TECHNOLOGIES.
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"Fire-Boltt products are packed with the most advanced features and considering the average income of Indonesian people, their prices are extremely reasonable. Fire-Boltt is also planning to expand its operations to Thailand and Malaysia in the coming months," she added.
