Reliance Retail Commits Acquisition
Reliance Retail Limited, a subsidiary of Reliance Industries, has bought the brand Kelvinator. The firm made the announcement on Friday. But it did not disclose the financial terms. According to Reliance, the acquisition will enable it to extend its business in the emerging premium home appliances business in India.
Kelvinator's Reputation and Legacy
Kelvinator is a popular international brand for electric home refrigeration. It was popular in India in the 1970s and 80s. The company is popular for cutting-edge technology, decent performance, and sound quality. The brand became popular with the tagline "The Coolest One."
Strategic Fit for Reliance
Isha Ambani, Reliance Ventures Limited's Executive Director, reacted to the acquisition. She stated that Kelvinator is honored to partner with Reliance. She pointed out that Reliance's extensive retail network will assist Kelvinator in expanding. The union should increase their presence in the premium appliances market.
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