Aiming to ramp up its presence in the consumer durables business, Reliance Retail on Friday said it has acquired the iconic brand Kelvinator in a strategic step. The acquisition is also considered a significant step towards enhancing the reach of Reliance in the fast-growing durables market in India, as it tries to provide more premium varieties of home products to Indian consumers.
With a rich history in home refrigeration, Kelvinator, a world-famous brand, became so popular in India in the 1970s and the 1980s because of its memorable tagline, The Coolest One. What will go a long way is the fact that it has a good brand memory and reputation for making good appliances, which should blend well with the growing consumer electronics and appliances product lineup that Reliance Retail has.
Commenting on the acquisition, Isha Ambani, Executive Director Reliance Retail Ventures Ltd., said, “This is an important part of our quest to bring trusted international innovations to Indian consumers. Reliance will now be able to access to millions of Indian families through its unbeatable retail presence with the legacy of quality and reliability possessed by Kelvinator.”
She also pointed out how the international standards of the brand and a large scale of operation of Reliance will not only benefit the relaunching of the Kelvinator name in India but also make good-quality and advanced appliances more affordable and accessible.
Reliance Retail, with this acquisition, will expand its business in the premium home appliances segment. This organisation wants to offer Indians a variety of energy-efficient and technologically advanced products such as refrigerators and washing machines, air conditioners and kitchen appliances.
This action is even favourable with the broader strategy of Reliance to lead important categories of Indian retail through purchasing established brands and infusing a new life in those brands with innovation, distribution, and price-cutting. The experts in the industry feel that this acquisition has the potential to put Reliance in a better position in the new consumer durables market in the future.
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