Launched in India in 2017, Riversong Technology, with its India headquarters in Gurugram (in Delhi-NCR region) is a subsidiary of its parent company based in China. Reversong provides IMG technology-based state-of-the-art smart devices and mobile accessories designed for fitness trainer, young adventurers and music lovers. In an interaction with Mobility magazine, Manvendra K Chandola, CEO of Riversong, shares their brand strategy and future plans for India market.
Manvendra, prior to accepting the current role at Riversong, was associated with Micromax Mobile as the National Distribution Head. Manvendra began his career with Pepsi India where he served for nine years. He was also associated with Parle Agro and Reliance Retail for a better part of his career. Manvendra graduated from HNB Garhwal University in 1992 and has handled a wide range of divisions and multiple management functions in marketing, sales and operations during his career.
Manvendra shares, “We launched in India in 2017 as an online-only brand and launched via offline channel starting from early 2019. Today, our channel is 95% offline and 5% online. Currently, we are present in 17 states including South, North and West India regions, with South India as the major source of our business. In the coming months and years we will expand PAN-India. We are expanding our reach in a systematic and slow-and-steady pace in tune with the market dynamics and customer attitudes.”
“Right now our main focus is the audio accessories and smart wearables premium budget segment, which covers nearly 50% of our business currently. In the first two years (2017-18), we focused more on understanding the Indian customers’ specific needs, expectations and attitudes about mobile accessories. Our aim is to design and provide premium products with uncompromising quality at affordable prices. Our policy is to go at a slow and steady pace with a well-informed marketing and channel strategy, than expanding too fast. Earlier customers were just interested in low-priced products, but the current trend is people, particularly youth, are willing to spend something extra for good quality products with premium features,” adds Manvendra.
Riversong’s devices with cutting-edge technology, housed in attractive cases, are the perfect lifestyle partners that one would love to flaunt. Riversong is committed to bring premium products with people-oriented designs and excellent customer services with a vision to become a brand that deserves your love.
Regarding business, channel policy and future plans, Manvendra reveals, “Coming to our channel strategy, for each state, we appoint a state-level distributor who in turn will appoint micro-distributors. We will give him enough freedom to choose his supply strategy. If the state-level distributor himself does not want to cover the entire state, then we will appoint another distributor to cover the remaining part of the state. This year (2019) so far, we have witnessed a significant jump in our revenues and we are getting encouraging reports from the partners and customers; many new partners are showing interest to join our channel network. We will add more products to our portfolio, add more partners to our supply chain and cover more regions. We are launching several new products for the forthcoming festive season (Oct-Dec 2019).We have plans to gradually extend the reach of our products to C and D class cities in the coming months. Our revenue target is Rs 50 crores of CY 2019 and Rs 100 crores for CY 2020. We are very optimistic about our progress in the coming years and aim to be one of the top players in the mobile accessories segment.”