NEW DELHI: Sunil Mittal-led Bharti Enterprises, along with private equity firm Warburg Pincus, announced on Wednesday a strategic investment in home appliances brand Haier India, a subsidiary of China’s Haier Group. Following the completion of the transaction, Bharti Enterprises and Warburg Pincus will collectively own a 49% stake in Haier India. Haier Group will retain a 49% stake, while the remaining 2% will be held by Haier India’s management team.
In a press note on Wednesday, Bharti Enterprises said the partnership will strengthen Haier India’s “Made in India, Made for India” vision by deepening local sourcing, expanding manufacturing capacity, driving product innovation, and accelerating market penetration. The capital infusion is expected to enhance Haier India’s competitiveness across the entire value chain.
Haier India is currently among the top three consumer durables companies in the country. Its product portfolio spans air conditioners, refrigerators, televisions, washing machines, and kitchen appliances. Over the past seven years, the company has recorded a compound annual growth rate (CAGR) of approximately 25%, one of the highest in the industry.
In a recent interview with The New Indian Express (TNIE), Haier India said it is expanding its manufacturing footprint in the country with an investment of Rs 3,500 crore over the next three to four years. The Chinese brand, which manufactures televisions, air conditioners, and refrigerators, currently operates two manufacturing facilities in Greater Noida and Pune, and plans to set up a third unit in western or southern India.
“We are still finalising the location. It could be in the western or southern part of India. The investment will be approximately Rs 3,500 crore, implemented in phases, and will generate around 12,000 direct and indirect jobs,” said NS Satish, President, Haier Appliances India.
Established in 2003, Haier Appliances India Private Limited is a subsidiary of Haier Singapore Investment Holding Pte. Ltd. The company began manufacturing in India in 2007 and has built a strong presence in the refrigerator, television, and air-conditioner segments. Haier closed the current year with revenue of around Rs 11,000 crore. It currently holds a 14% market share in refrigerators, 14% in washing machines, and 8% in air conditioners. For the next financial year, Haier is targeting revenue of Rs 14,500 crore and aims to grow across all product categories.