You are here: Home » PTI Stories » National » News
Business Standard

Ricatech eyes USD 40 m revenue from India in 2017-18

Press Trust of India  |  Mumbai 

Dutch luxury audio electronic brand Ricatech is making a foray into the Indian market and eyeing a of USD 40 million in 2017-18.

"is a very promising market keeping the luxury segment in mind and I firmly believe that the time is ripe for any luxury or premium brand to enter We are entering the Indian terrain by launching the jukeboxes," Ricatech CEO Richard Singh told PTI adding that expectation from is USD 40 million in 2017-18.

The retro style electronics firm that makes MP3 players and luxury jukeboxes is lining up USD 2 million to enter the country and sees a good market for its first product -- jukebox, a collector's item.

"The jukebox is a very premium and exclusive segment and will be one of a kind limited edition luxury product," he said, adding that the jukebox will be imported, delivered and installed by Ricatech directly.

The company, which is targeting and Delhi, also looks to launch retro jukeboxes, record-players, radios, accessories, headphones and bluetooth speakers in India, catering to the mass segment.

"The lifestyle range like record-players, radios, headphones and bluetooth speakers that we will be launching at a later stage will be going through retail stores and e- commerce platforms," he said.

The company is also in talks with retailers and e- commerce players like Croma and Amazon to understand specific local demands in India and develop and launch the products based on them.

On manufacturing its products in India, he said, "the production of the Amitabh Bachchan jukebox takes place in California, USA. We are not planning to move that because the machines, tooling, and staff with a lot of know-how is located in the USA. In our future projects, we do look at the possibilities of Make in India.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, October 08 2017. 13:48 IST