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Reliance Retail buys Kelvinator to expand premium appliances portfolio
'Kelvinator, a brand synonymous with trust and innovation for over a century, 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,' Reliance Retail said in its release.
The statement also added that this acquisition strategically aligns with the company's vision of democratising aspirational living. 'By integrating Kelvinator's rich legacy of innovation with Reliance Retail's expansive and unparalleled retail network, the company is set to unlock substantial consumer value and accelerate growth in the rapidly expanding premium home appliances market across India,' the statement said.
'Our mission has always been to serve the diverse needs of every Indian by making technology accessible, meaningful, and future-ready,' stated Isha M Ambani, Executive Director, Reliance Retail Ventures, in the release.
'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,' she added.
Reliance Retail Ventures, through its subsidiaries and affiliates, operates a network of 19,340 stores and digital commerce platforms across grocery, consumer electronics, fashion and lifestyle, and pharma consumption baskets, and has partnered with over 3 million merchants through its New Commerce initiative. The company reported a consolidated turnover of Rs 3,30,870 crore and EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs 25,053 crore for FY25.
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