PLAY, the ‘Made in India’ startup with a vision to unite the youngsters with connected devices, has taken over RiverSong India. With this acquisition, the brand aims to strengthen its sales and distribution network, expand its product mix and imprint a stronger foothold across the country.
On the back of the tactical acquisition, the two companies aim to collectively gain an on-ground presence expanding to all parts of India and aim to reach one lakh retail outlets in India, including Tier-2 and Tier-3 cities and towns.
In addition, the leading brands will also get an opportunity to quickly establish their presence in over 40,000 retail outlets of each other in the 2nd most populous country in the world.
A major leadership change will follow this highly potential acquisition. The CEO of RiverSong India Operations, Mr Manvendra Chandola will join PLAY as the CEO of the group. With over 25 years of comprehensive experience and deep knowledge of various industries, including retail, FMCG and electronics, he will be contributory for the development post this strategic acquisition.
Until now, RiverSong India has acquired more than four million customers on account of its product sales in India. Following this acquisition, PLAY aims to add brand new products to its portfolio thereby enhancing the consumer offering under the Dual brand strategy.
The Chairman and MD of PLAY, Vikas Jain said, “The acquisition of RiverSong India comes at an important time in the growth journey of both companies. Digitech is the present and future.
“Our aim is to be at the front line of these rapidly changing lifestyle dynamics as more consumers are coming towards ultra-modern technology.”
“With RiverSong India in the portfolio, our product experience, distribution capabilities along with post-sales service should climb new heights shortly,” Jain added.
PLAY is Gurugram-based entrepreneur Vikas Jain’s latest venture. At present, PLAY is focused on the design and development of modernistic digital technology-induced with Artificial Intelligence & IoT features in the home automation and activewear market.
On the other hand, IMG Technology Group – a subsidiary of leading phone developer, RiverSong Technology is a global brand with a lot of key smart products and presence in over sixty countries, including India, Turkey and South Africa.