Reliance Retail Expands Its Portfolio

In a bold move to strengthen its presence in the consumer durables sector, Reliance Retail has acquired the Kelvinator brand for India from Sweden's Electrolux. This strategic acquisition marks a significant step in Reliance's ambition to compete with global and local giants like Samsung and Tata's Voltas.

Financial Details Undisclosed
While the financial specifics of the deal remain under wraps, Electrolux reported a gain of approximately $18.5 million from the divestment, highlighting the transaction's significance.

Kelvinator's Legacy in India

Kelvinator, a brand that first entered the Indian market in the 1960s, became a household name in the following decades. Despite a tumultuous history, including acquisitions by Whirlpool and Videocon, Kelvinator's revival under Reliance Retail in 2019 has been a testament to the brand's enduring appeal.

Reliance's Strategy of Reviving Iconic Brands
Reliance Retail's acquisition of Kelvinator is part of a broader strategy to revive and reintroduce iconic brands to the market, following similar moves with Campa and Velvette. Additionally, through its subsidiary Reliance Brands, Reliance is also expanding its portfolio of global labels to cater to the evolving preferences of consumers with higher disposable incomes.