Brands
Goboult expands Mustang range, eyes Rs 3,000 Crore by FY28
Three smartwatches, a TWS and a premium push set Goboult racing ahead
MUMBAI: Goboult, one of India’s fastest-growing wearables and audio brands, is stepping on the accelerator with its Mustang partnership, unveiling a new line of smartwatches and earbuds as it targets Rs 3,000 crore in revenue by FY27-28.
After closing FY25 at around Rs 800 crore, Goboult is shifting gears from discount-led growth to a sharper focus on premium, design-led products. Central to this strategy is the three-year-old partnership with Mustang, which now goes beyond audio into wearables, blending automotive inspiration with everyday tech.
The new Mustang collection features three smartwatches:Stallion, Racer, and Muscle, alongside the Mustang Sprint TWS earbuds. Each product channels Mustang DNA through design touches like piston-head switches, tyre-tread straps, and aero-inspired curves, giving tech lovers a taste of automotive performance on their wrists and in their ears.
Goboult co-founder Varun Gupta said, “We’re building towards a Rs 3,000 crore business by FY28, but this isn’t just about numbers. We’re the first Indian wearables brand to create a deep, design-led partnership with an iconic brand like Mustang. Every choice is made to bring confidence and character into everyday life.”
Currently, audio accounts for roughly 70 per cent of Goboult’s revenue, with wearables making up the rest. The company expects wearables to gain ground as mid-premium and premium products rise to 70 per cent of the portfolio by FY26, boosting profitability. Offline sales are set to double to 40 per cent, driven by Tier-2 and Tier-3 city demand.
Ford Global brand licensing manager Tyler Hill said, “Mustang is celebrated worldwide. This new line lets fans take the Mustang spirit beyond the car, turning iconic design cues into lifestyle products.”
With competition heating up in smartwatches, Goboult is betting on quality, design, and user experience rather than price wars. The Mustang collection alone is projected to grow from Rs 2 crore to Rs 12 crore in the near term.
Looking further down the track, Goboult plans a global expansion into the US, Europe, Southeast Asia, and East Asia by 2030, keeping a steady hand on premium positioning and sustainable growth.
Goboult Mustang collection highlights-
- Mustang Stallion: Piston-head switch and speedometer bezel for precision control. MRP Rs 14,999, launch Rs 3,999
- Mustang Racer: Tyre-tread crown and aero-inspired strap for comfort and grip. MRP Rs 12,999, launch Rs 2,999
- Mustang Muscle: Aero-curved display with alloy-wheel haptic crown. MRP Rs 9,999, launch soon
- Mustang Sprint TWS: Windshield-style earbuds with knurled controls. MRP Rs 5,999, launch Rs 1,499
The Mustang series signals Goboult’s intent to set the pace in India’s premium wearables market while making a global pit stop along the way.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
