In an effort to “significantly broaden” its operations in the consumer durables sector, Reliance Retail announced on Friday that it has purchased home appliance manufacturer Kelvinator from Sweden’s Electrolux for the Indian market. Reliance withheld the deal’s financial information. “Kelvinator, a name that has been associated with innovation and trust for more than a century, invented electric refrigeration for residential use all around the world. With its catchphrase, “The Coolest One,” it became legendary in India in the 1970s and 1980s. It is still admired for its state-of-the-art technology, outstanding performance, long-lasting quality, and outstanding value, according to a news release from Reliance Retail.
The acquisition is in line with the company’s mission to “democratize aspirational living,” the statement continued. “The company is poised to unlock significant consumer value and accelerate growth in the rapidly expanding premium home appliances market across India by combining Reliance Retail’s vast and unmatched retail network with Kelvinator’s rich legacy of innovation.” According to Isha M. Ambani, executive director of Reliance Retail Ventures, “Our mission has always been to serve the diverse needs of every Indian by making technology accessible, meaningful, and future-ready.”
“The acquisition of Kelvinator is a key milestone that will allow us to offer Indian consumers a much wider range of reliable international products. Our unparalleled scale, extensive service capabilities, and industry-leading distribution network provide strong backing for this,” she continued. Reliance Retail Ventures runs a network of 19,340 stores and online marketplaces in the grocery, consumer electronics, fashion, and pharmaceutical industries through its affiliates and subsidiaries. The company recorded ebitda (earnings before interest, tax, depreciation, and amortization) of Rs 25,053 crore and a total turnover of Rs 3,30,870 crore in FY25.
