NEW DELHI, July 18:  Reliance Retail on Friday announced the acquisition of consumer durables brand Kelvinator in a bid to accelerate its growth in the rapidly expanding premium home appliances market across India.

  The company, however, did not disclose the financial details of the transaction.

The acquisition is poised to significantly amplify the company’s leadership in India’s fast-growing consumer durables sector, Reliance Retail said in a statement.

“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,” Reliance Retail Ventures Ltd Executive Director Isha M Ambani said.

She further said, “This is powerfully supported by our unmatched scale, comprehensive service capabilities, and market-leading distribution network.”

By integrating Kelvinator’s rich legacy of innovation with Reliance Retail’s expansive retail network, the company is set to unlock substantial consumer value and accelerate growth in the rapidly expanding premium home appliances market across India, Reliance Retail said.

This synergy will ensure that high-quality, globally-benchmarked products are accessible to every Indian household, enhancing their daily lives, it added.

For over a century, Kelvinator pioneered electric refrigeration for home use globally.

In India, it achieved iconic status in the 1970s and 80s with its memorable tagline, ‘The Coolest One’ and continues to be revered for its cutting-edge technology, superior performance, enduring quality, and exceptional value, the statement added.

With Kelvinator now firmly integrated into its formidable ecosystem, Reliance Retail is strategically positioned to accelerate category growth, deepen consumer engagement, and unlock substantial long-term opportunities within India’s dynamic consumer durables market, the company said.  (PTI)