Reliance Retail on Friday announced the acquisition of home appliances brand Kelvinator, aiming to "amplify its leadership in India's fast-growing consumer durables sector." The company did not disclose the exact value of the deal.
Kelvinator's owner, Swedish home appliance maker Electrolux Group, said the divestment of the Kelvinator trademark portfolio in India would have a positive financial impact of ₹1,370 crore (SEK 180 million).
In 2019, Reliance Retail entered into an exclusive long-term brand licensing, manufacturing, marketing, and distribution agreement with Electrolux (the owner of the Kelvinator brand). This deal enabled Reliance to relaunch Kelvinator appliances such as refrigerators, washing machines, air conditioners, and microwaves across its extensive retail networks including Reliance Digital and Jio Stores.
Reliance's retail unit will now own the trademark itself.
The acquisition aligns with Reliance Retail's ongoing expansion strategy, under which it has acquired or partnered with a series of legacy consumer brands such as Campa Cola, Velvet, and Lotus Chocolate. Earlier, it was reported that Mukesh Ambani-led Reliance Industries was in talks to buy a significant stake in Chinese consumer brand Haier. However, Moneycontrol later reported that a consortium including Sunil Mittal (Bharti Enterprises) and Warburg Pincus is in exclusive talks to acquire 49% of Haier India.
"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," said Isha M Ambani, Executive Director, Reliance Retail Ventures Limited (RRVL).
In a statement, the company further added that this acquisition strategically aligns with Reliance Retail’s vision of democratising aspirational living. By integrating Kelvinator’s rich legacy of innovation with Reliance Retail’s expansive and unparalleled retail network, the company aims to unlock substantial consumer value and accelerate growth in India’s rapidly expanding premium home appliances market.
Refrigerator and AC maker Kelvinator achieved iconic status in the 1970s and 80s in India with its memorable tagline, "The Coolest One."
According to Business Today, Kelvinator entered the Indian market in 1963 and quickly became a household name alongside brands like Godrej and Allwyn through the 1970s and 80s. It held a major market share until the 1990s liberalisation introduced fierce competition from global giants such as LG and Samsung.
Earlier reports show that Videocon Group acquired a 91.85% stake in Electrolux Kelvinator Ltd (EKL) from Electrolux AB in July 2005. EKL became part of Videocon, and the company gained rights to market Kelvinator (alongside Electrolux and Allwyn brands) in India under a licensing agreement with Electrolux. EKL was eventually merged into Videocon Industries around 2013 and officially de-listed, fully folding the business into Videocon’s consumer durables division.
In Q4 FY25, Reliance Retail reported a 16.3% year-on-year rise in revenue to ₹78,622 crore, with gross revenue reaching ₹88,620 crore. Consolidated net profit grew 29% to ₹3,545 crore, while EBITDA rose 14.3% to ₹6,711 crore, maintaining a healthy margin of around 8.5%. The company added 2,659 new stores during the year, bringing its total store count to 19,340 across 77.4 million sq ft of retail space. With 349 million registered customers—a 15% annual increase—Reliance Retail continues to see growth across its consumer electronics, fashion, and e-commerce segments, supported by tech-driven efficiencies and format innovations.
In the consumer electronics business, the JioMart Digital (JMD) segment recorded 76% year-on-year growth and expanded its merchant partner base. The Own Brands business grew by 30% year-on-year, supported by the 60% expansion in the merchant partner base and the launch of new products across consumer durables and domestic appliances.
