Reliance subsidiary Reliance Retail acquires Kelvinator ahead of Q1 results today. Details here
Isha Ambani-led Reliance Retail announced the acquisition of refrigerator and washing machine manufacturer Kelvinator, a move to amplify its range of offerings in India's fast-growing consumer durables sector.
However, Reliance Retail did not disclose the financial details of the transaction.
'The acquisition of Kelvinator marks a pivotal moment, enabling us to significantly broaden our offering of trusted global innovations to Indian consumers. This is powerfully supported by our unmatched scale, comprehensive service capabilities, and market-leading distribution network,' said Isha M Ambani, Executive Director, Reliance Retail Ventures Limited (RRVL).
Kelvinator pioneered electric refrigeration for home use globally. In India, it achieved iconic status in the 1970s and 80s with its memorable tagline, 'The Coolest One,' and continues to be revered for its cutting-edge technology, superior performance, enduring quality, and exceptional value.
At 12:00 PM, Reliance industries share price was trading 0.38% lower at ₹ 1,471.50 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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