Latest news with #Kelvinator
Entrepreneur
9 hours ago
- Business
- Entrepreneur
Reliance Retail Acquires Kelvinator to Boost Presence in Consumer Durables Market
The acquisition, announced recently, is seen as a strategic step toward expanding Reliance's footprint in the premium home appliances segment. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Reliance Retail, a subsidiary of Reliance Industries, has acquired home appliance manufacturer Kelvinator in a move aimed at strengthening its position in India's growing consumer durables sector. The acquisition, announced recently, is seen as a strategic step toward expanding Reliance's footprint in the premium home appliances segment. "This integration brings together Kelvinator's long-standing legacy of innovation and Reliance Retail's widespread network, enabling us to deliver high-quality, globally benchmarked products to Indian households," the company stated. It added that the move will support the goal of making aspirational living more accessible to a wider population. Isha M Ambani, Executive Director of Reliance Retail Ventures Limited, highlighted the broader vision behind the acquisition. "Our mission has always been to serve the diverse needs of every Indian by making technology accessible, meaningful, and future-ready," she said. "With Kelvinator joining our ecosystem, we are expanding our offerings of trusted global innovations to consumers across the country." Industry observers see this acquisition as a significant development in Reliance's retail strategy. With Kelvinator now part of its portfolio, the company is poised to deepen consumer engagement and drive long-term growth in the rapidly evolving consumer durables landscape.
India.com
2 days ago
- Business
- India.com
Big worry for LG, Whirlpool after Mukesh Ambani acquires Kelvinator... will these brands survive?
Big worry for LG, Whirlpool after Mukesh Ambani acquires Kelvinator... will these brands survive? Mukesh Ambani-led Reliance Retail Ltd has on Friday acquired Kelvinator brand which manufactures home appliances products. Notably, Reliance Retail had manufacturing and distribution rights in 2019. This new takeover will further strengthen Reliance Retail's presence in the consumer electronics market. The company is operating electronics stores under the Reliance Digital banner. But this acquisition, has got the existing players in the durable market including LG and other companies worried. Electrolux Group was a hit in the 70s and 80s This brand was very popular in India at one time. Electrolux Group entered the Indian market in 1960. The company had developed a large customer base between 1970 and 1980. At that time the tagline of this company used to be 'The Coolest One'. In 1995, Whirlpool of India Ltd acquired Kelvinator India Ltd. After this acquisition, the company entered the refrigerator market. In 2019, Kelvinator re-entered the Indian market after signing a deal with Reliance Retail. Currently, it sells refrigerators, washing machines, air conditioners etc. under the Kelvinator brand. The company is selling these products with the help of Reliance Digital store network and other retailers. Let us tell you, Reliance Digital currently operates 400 stores in the country. How big is the consumer durable market? This is equal to 0.60 percent of the country's GDP. It is expected to grow at a CAGR of 11 percent. According to the report, by 2029, the size of the country's consumer durable market will be equal to 3 trillion dollars. The total turnover of Reliance Retail Limited was Rs 3,30,870 crore in FY 2025. The EBITDA of the company was Rs 25,053 crore.
Hans India
3 days ago
- Business
- Hans India
RelRetail buys Kelvinator
New Delhi: Reliance Retail on Friday announced the acquisition of consumer durables brand Kelvinator in a bid to accelerate its growth in the rapidly expanding premium home appliances market across company, however, did not disclose the financial details of the transaction. The acquisition is poised to significantly amplify the company's leadership in India's fast-growing consumer durables sector, Reliance Retail said in a statement. '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,' Reliance Retail Ventures Ltd Executive Director Isha M Ambani said. She further said, 'This is powerfully supported by our unmatched scale, comprehensive service capabilities, and market-leading distribution network.' By integrating Kelvinator's rich legacy of innovation with Reliance Retail's expansive retail network, the company is set to unlock substantial consumer value and accelerate growth in the rapidly expanding premium home appliances market across India, Reliance Retail said. This synergy will ensure that high-quality, globally-benchmarked products are accessible to every Indian household, enhancing their daily lives, it added. For over a century, 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, the statement added.
Time of India
3 days ago
- Business
- Time of India
Appliances race: Reliance Retail buys Kelvinator brand
File photo MUMBAI: Reliance Retail has acquired home appliances brand Kelvinator for India from Sweden's Electrolux as it looks to expand market share in the consumer durables space, stepping up competition against global and local giants such as Samsung and Tata's Voltas in the market. Reliance Retail has been holding manufacturing and distribution rights for the brand in India since 2019 through a licensing deal signed with its Swedish owner. The company did not disclose the financial specifics of the deal. In an earnings update, Electrolux, however, said that it has realised a gain of about $18.5 million (around Rs 160 crore) from the divestment of the Kelvinator brand in India. Alicensing deal is typically signed for a certain period of time; a full acquisition expands a company's scope and coverage for the brand. 1st entered in 1960s Kelvinator first entered India in 1960s and became popular in the local market in the 1970s and 80s before competition in the space intensified. The brand has had a chequered history in India — Whirlpool for India acquired the brand in 1995 to access the refrigerator category. Later, it went on to get acquired by Videocon in the mid 2000s, eventually being relaunched by Reliance Retail in 2019. One of Reliance's key growth strategies has been to revive iconic brands and launch them in the market. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You To Read in 2025 Blinkist: Warren Buffett's Reading List Undo Before Kelvinator, it has acquired homegrown brands like Campa and Velvette. Besides, Reliance Retail through its subsidiary Reliance Brands has also been building a portfolio of global labels as more consumers with higher disposable incomes seek better choices. In 2019, Reliance Brands acquired Hamleys marking the first acquisition of a global retail brand. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
3 days ago
- Business
- Time of India
Reliance Retail acquires home appliances brand Kelvinator
Reliance Retail MUMBAI: Reliance Retail has acquired home appliances brand Kelvinator for India from Sweden's Electrolux as it looks to expand market share in the consumer durables space, stepping up competition against global and local giants such as Samsung and Tata's Voltas in the market. Reliance Retail has already been holding manufacturing and distribution rights for the brand in India since 2019 through a licensing deal signed with its Swedish owner. The company did not disclose the financial specifics of the deal. In an earnings update, Electrolux, however, said that it has realised a gain of about $18.5 million (around Rs 160 crore) from the divestment of the Kelvinator brand in India. A licensing deal is typically signed for a certain period of time; a full acquisition expands a company's scope and coverage for the brand. Kelvinator which sells a range of premium refrigerators, washing machines and air conditioners had first entered India in 1960s and became popular in the local market in the 1970s and 80s before competition in the space intensified. The brand has had a chequered history in India—Whirlpool for India had acquired the brand in 1995 to gain access to the refrigerator category and later it went on to get acquired by Videocon Industries in the mid 2000s, eventually being relaunched by Reliance Retail in 2019. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo Reliance Retail already sells Kelvinator products through Reliance Digital stores, e-commerce platforms and its general trade partners. Flexible payment schemes and EMI plans offered by brands have fuelled appetite for premium consumer durables, broadening the customer base for the segment. Reliance Retail said that it will leverage its vast retail network and Kelvinator's expertise in innovation to boost its growth in the premium home appliances market. '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,' Isha M Ambani, executive director at Reliance Retail Ventures said in a statement. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
