"We aim to become the leading Indian as well as global brand for smart devices"

Manvendra Chandola, CEO - Riversong India in a chat with VARINDIA shares the company’s 2019 roadmap while also documenting its journey in the India market and about its innovative products to cater to this market -

What is your roadmap in 2019 with regards to your brand expansion and market presence?

We commenced our journey in the year 2017 in India. Last year was a Test market for our brand to see the responses of the consumers and we are glad to receive such positive feedback for our products. As of now we are present in 14 states and are soon planning to cover the remaining half of the country. Our plan is to expand our operations PAN India by the end of June’19. We are aiming to be among top 3 players in the consumer tech segment.Currently we have 22Super distributors, 82 Micro distributors covering approximately 8000 plus outlets. Our plan is to appoint 13 new Super distributors, 50 Micro distributors and increase the outlet base to 25K by the end of Q2.

Could you document Riversong’s journey in the country with respect to its success stories in the India market?

Headquartered in Shenzhen, China, Riversong was founded in 2015 and started the Indian operations in December 2017. At the beginning, we were only selling through online marketplaces, but now we have expanded our footprints to shop-in-shops and multi brand outlets. The journey so far has been gratifying and we are hoping that the products we plan to launch will be accepted by our target audience. We aim at delivering the best quality products in the best possible prices to our customers.

How has Riversong structured its distribution network in the country? What is your go-to-market strategy?

We have a three tier distribution system. Super distributor generally handling a state (in few state we have multiple SD’s). Under these SD’s there are micro distributors. These micro distributors being assign one or two districts and the retailers of that market.

Our go-to-market strategy is to provide high quality products to our distributors and get our products placed in a bigger sector which will ultimately assist us in increasing our consumer data base. As a consumer brand, we welcome feedback with open arms so that we can grow and continuously work towards delivering the best products in the market.

How instrumental has the channel been in positioning Riversong as a leading brand in the country?

We are at a very nascent stage to measure how instrumental has the channel been for the brand in the correct positioning but unlike many other brand, we are focusing more on offline channels. We believe that it is very important for the customers to get a touch and feel of the products before buying them. We are also available online on amazonand selling our products there, but as I said, we will continue focusing on the offline sales as it helps us understand the consumer behavior.

What new innovative product launches do you have in the pipeline?

We have quite a few exciting products in the pipeline for the Indian Market. Such as, in smart wearable segment we have Motive smart watch,Stream series, Rhythm L and AirX series in the audio portfolio.We are continuously working towards delivering quality products to our consumers by tapping smart gadgets with improved technology. We are surely going to have a large number of products in the near future.

How do you view the global consumer market vis-à-vis the India market?

The technology market in India is growing at a rapid pace as it is estimated to grow up to 1.9 billion by 2020. Being a developing nation, India has an immense potential for the growth of new brands and products. A major shift in the consumer behavior has been seen in the Indian market, brands have observed the gap for smart wearables in the market and are now launching innovative gadgets to fill the gap. Report says, the global consumer tech market was valued at around USD 1,172 billion in 2017. It is expected that it will reach approximately USD 1,787 billion in 2024, growing at a CAGR of slightly above 6.0% between 2018 and 2024.The global market is still running ahead of the Indian market. We have the same products range in all our markets but yes, the feedback varies from country to country.

What growth prospects do you see in the India market?

Currently we are positioned as a brand for the niche segment of the tier I and tier II cities and aim to become the leading Indian as well as global brand for smart devices. Every brand that enters a new market space faces certain challenges such as customer acceptance, competitive product range, product accessibility and availability. We also faced similar challenges but due to the wide product range we offer, and latest innovative technology used in our products, we have overcome these challenges to certain extend. The Indian market is now opening up to us and we hope to continue the growth graph here on.