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Joint Venture will reignite ROKiT's business interests in India following hiatus due to COVID
NEW DELHI and LOS ANGELES, April 12, 2023 /PRNewswire/ -- ROKiT, a global conglomerate of cutting-edge products, technologies, drinks and services, has partnered with Tamil Nadu's KPK for a Rs 500 Cr investment to launch innovative products and manufacturing in India. This exciting new joint venture will focus initially on delivering Consumer Electronics, Gaming, and Mental Health services followed by the ROKiT Drinks portfolio, ROKiT's proprietary out-of-home Wi-Fi mesh services and ROKiT Gear.
The first product to be launched will be the ROKiT Eye-Q Smart Glasses, designed to enhance audio through the eye-wear itself, followed by ROKiT WAGR, a skill-based real money gaming platform and, shortly after that, DISKUSS, a mental therapy app.
In addition to these products, ROKiT has ambitious plans to launch mobile phones, e-bikes, and its ROKiT Drinks beverages in India over the next six months. This move is set to make ROKiT a major player in the Indian market.
Manufacturing of many of these products and services will be completed in India, allowing ROKiT to export them globally.
Commenting, ROKiT's co-founder Jonathan Kendrick said "We're thrilled to partner with KPK to re-ignite our operations in India after a 3 year stagnation in India due to COVID. This is an important milestone for our business and we're confident that our partnership with KPK will create new opportunities for growth and innovation in the Indian market and secure the jobs of our 200 staff in India who we kept employed throughout, despite the global pandemic."
KPK's CEO S. Pranesh added "We're excited to partner with ROKiT and bring their cutting-edge products to the Indian market. We believe that our combined expertise and resources will allow us to offer our customers the best possible products and services. This partnership is a great opportunity for us to work with a global leader in the technology sector, and we look forward to exploring new ways to innovate and grow together in the future."
About ROKiT
ROKiT, co-founded by Jonathan Kendrick and John Paul DeJoria, is a global conglomerate headquartered in the U.K. with offices in the US, Mexico, India, Honk Kong, Germany, Albania and China. The company is known for its innovative products and huge marketing capacity through sports sponsorships. www.rokit.com
About KPK
KPK is a leading trade and retail company based in Tamilnadu, India. The company has a turnover of around Rs. 100 crores annually and is involved in wholesale and retail of fabrics, yarn, ready-made garments, textiles, mobile phones, metals, and bullion. www.kpk.co.in
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SOURCE ROKiT