Reliance Retail has acquired consumer durables brand Kelvinator from the Electrolux Group, which pegged the transaction value at SEK 180 million (nearly Rs 160 crore). This move underscores the Indian retail giant's ambition to strengthen its foothold in the fast-growing but highly competitive home appliances market.
Kelvinator, once a prominent brand, pioneered electric refrigeration for home use globally. It entered the Indian market in 1963 and became a prominent brand in the 1970s and 1980s. Kelvinator held a big share in the Indian market until the 1990s liberalization saw the entry of global giants like LG and Samsung that quickly surged ahead.
Kelvinator also witnessed ownership changes -- from Electrolux to Whirlpool -- and due to intense competition and declining investment by its owners, the brand’s market presence faded. In India, the Kelvinator brand was revived in 2019, when Reliance signed a licensing, manufacturing, marketing and distribution deal with Electrolux.
Now, with the acquisition of the Kelvinator name, Reliance aims to re-establish its presence in one of the fastest growing market for white goods in the world. India's consumer goods market could nearly double to Rs 3 lakh crore ($34.8 billion) by 2029, according to an EY report.
"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,” stated Isha M Ambani, Executive Director, Reliance Retail Ventures Limited (RRVL).
With Kelvinator now firmly integrated into its ecosystem, Reliance Retail said that they are strategically positioned to accelerate category growth, deepen consumer engagement, and unlock substantial long-term opportunities within India's dynamic consumer durables market.
A senior analyst tracking the consumer goods market said that Reliance has the scale and ecosystem to fully revive Kelvinator in the Indian market and make it a brand to compete with the likes of Whirlpool, Godrej and even the Korean twins.
Kelvinator is also the second legacy brand that Reliance has acquired fully in recent years, after Campa Cola, to increase its consumer facing businesses. Since its relaunch in early 2023, Campa Cola has made significant progress in snatching market share from PepsiCo and Coca Cola. As per industry estimates, Campa Cola achieved a double-digit market share in several key regions of India in FY25.