Homegrown smart wearables brand Play has acquired RiverSong India. With this development, the brand aims to strengthen its distribution network, expand its product portfolio and establish a stronger foothold across India.
On the back of the strategic acquisition, the two companies aim to jointly gain an on-ground presence extending to all parts of India and aim to reach 100,000 retail outlets in India, including Tier-II and Tier-III cities and towns.
In addition, the front-running brands will also get an opportunity to immediately establish their presence in over 40,000 retail stores of each other in the second-most populous country in the world.
A major leadership transition will follow this high-potential acquisition. Manvendra Chandola, CEO, RiverSong India Operations, will join Play as the Group CEO. With 25 years of comprehensive experience and in-depth knowledge of various industries, including FMCG, retail and electronics, he will be instrumental for the growth post this strategic acquisition.
RiverSong India, till now, has acquired more than 4 million customers on account of its product sales in India. Following this acquisition, Play envisions adding brand-new products to its portfolio thereby enriching the consumer offering under the dual-brand strategy.
Vikas Jain, Chairman and MD, Play, said, “The acquisition of RiverSong India comes at a crucial juncture in the growth journey of both companies. Digital technology is the present and future. With more and more consumers leaning towards ultramodern technology, we aim to be at the forefront of these rapidly changing lifestyle dynamics with an unrivalled portfolio of unique, innovative and astutely price-friendly products. With RiverSong India in the mix, our product experience, our distribution capabilities and after-sales service should scale new heights in the near future.”
Play is the latest venture of Gurugram-based entrepreneur Vikas Jain. At present, Play is focussed on design and development of futuristic digital technology infused with AI and IoT features in the active-wear and home automation market. On the other hand, a subsidiary of leading phone developer, IMG Technology Group, RiverSong Technology is a global brand with several key smart products and presence in over 60 countries, including India, South Africa and Turkey.