Riversong founded in Shenzhen, China in 2015, is a subsidiary of the leading mobile phone developer – IMG Technology Group, headquartered in Shenzhen, China. Riversong, with presence in over 30 countries, including the United States, Middle-East, India, South Africa and Hong Kong, commenced its operations in India in 2017 and their product range includes Smart Accessories (Fitness Bands, Smartwatches, Power Banks, Bluetooth Speakers, Earphones, etc.), with the recent addition of Home Audio Segment (Multimedia & Tower Speakers). In an interaction with Mobility India magazine, Mr Manverndra K Chandola, CEO, Riversong India, shares their brand philosophy, channel structure, values and future plans for the brand.
Please brief us about Riversong’s business plans and market strategy.
Riversong India commenced its operations in India in the year 2017, and initially aimed at selling the products online in order to understand market dynamics and consumer behavior in India. After an in-depth understanding the needs and pulse of the market, we decided to expand our operations though offline markets in 2019. Today, we have a well-established network of offline channel. The main focus of Riversong is to provide consumers with super quality and high-performance products. We pride ourselves with the trust of our customers and distributors and continuously strive to update old products and develop new products to serve various types of customers and their tastes.
Please brief us about your channel structure and priories while selecting channel partners.
A. Today, we have over 25,000 retail partners that cater to over 180 micro-distributors. In turn these 180 micro distributors cater to over 35 super distributors. In addition, we have 4 RRP (Riversong Regional Partners) who cater to super distributors. While selecting a partner, we judge the number of retailers they have in their network, their reputation amongst retailers and the industry in which they have their wings spread.
What are your future plans and where you want to be in the next 2 years?
A. As I mentioned, during 2017-19, we had our focus on building and expanding our channel network. Now, having an established channel network and customer base, we are focusing on customer acquisitions, adding new range of products. Currently our monthly customer acquisitions are around 400K, and we aim to reach 800K by the end of 2021. In 2020, we registered a growth of 100% and the Riversong Team is delivering their best to achieve the same growth in 2021 too.
What message do you want to give to your partners and customers?
A. We thank our partners wholeheartedly for their support in helping us to establish Riversong brand in the Indian market within a short span of time. We also thank the customers for reposing their faith in our brand and appreciating the quality of our products. I assure our channel partners the best possible support from our side and we will continue to maintain the right business ethics and transparency in all our business practices with partners and work towards growing our relationships with partners stronger. We will continue to design and develop products according to the latest needs of the market. We are very optimistic about our future progress and with the support of our partners and customers, Riversong will emerge as one of the leading brands for Smart Accessories & Home Audio in the Indian market.