Reliance Retail Acquires Kelvinator: Mukesh Ambani Takes On Samsung, LG, And Voltas In India’s Appliance Market

Reliance Retail has announced the acquisition of Kelvinator, a move aimed at strengthening its presence in India’s consumer durables segment. According to the company, this acquisition aligns with its strategy to expand its offerings in the home appliances sector by leveraging Kelvinator’s brand legacy and its own retail and distribution network.

Kelvinator is a global brand known for introducing electric refrigeration for home use. In India, it gained popularity in the 1970s and 1980s with the tagline “The Coolest One.” 

Reliance Retail stated that the integration of Kelvinator into its business will support its objective of providing high-quality, globally benchmarked products to Indian households.

In an official statement, Isha Ambani, Executive Director of Reliance Retail Ventures Limited, said, “The acquisition of Kelvinator marks a pivotal moment, enabling us to significantly broaden our offering of trusted global innovations to Indian consumers.” The company also mentioned that this acquisition is expected to support category growth and improve access to home appliances across India.

India Consumer Durables And Electronics Market

India’s consumer durables and electronics market is undergoing rapid expansion. According to industry estimates, the Indian Appliances and Consumer Electronics (ACE) market is expected to nearly double by 2025 to reach approximately Rs 1.48 lakh crore (US$17.93 billion). The Indian air conditioner market is projected to grow at a CAGR of 20.8% to reach US$9.8 billion by FY26, while the refrigerator market is expected to grow from Rs 46,732 crore in 2024 to Rs 1,04,713 crore by 2033.

As per data from ICRA, the room air conditioner segment is expected to grow 20–25% year-on-year in FY25, reaching 12–12.5 million units, supported by rising demand and favourable market conditions.

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Mukesh Ambani Takes On Samsung, LG, And Voltas

This puts Reliance in direct competition with global brands like Samsung and LG, which currently hold significant market shares in appliances, and domestic major Voltas, which leads the air conditioning segment.

In this backdrop, Voltas Limited, a key player in the segment, reported its financial results for the year ended 31 March 2025. According to the company’s BSE filing dated 8 May 2025, Voltas recorded a consolidated total income of Rs 15,737 crores for FY25, a 24% increase compared to Rs 12,734 crores in the previous year. Profit Before Tax stood at Rs 1,191 crores, up 145% from Rs 486 crores in FY24. Net profit increased to Rs 834 crores from Rs 248 crores in the previous year.

Voltas’ Unitary Cooling Products (UCP) segment reported revenue of Rs 10,614 crores, up from Rs 8,160 crores in FY24. The company stated that it maintained an approximate 19% market share in the air conditioning segment and recorded 36% volume growth in UCP for the year.

Voltas Beko, the company’s home appliances joint venture, reported sales of over 1 million refrigerators and washing machines during FY25. As of YTD February 2025, the brand held an 8.7% market share in washing machines and 5.3% in refrigerators. In the semi-automatic washing machine segment, its market share was 15.3%.

The engineering projects segment also reported improved performance, with FY25 revenue rising to Rs 4,157 crores, up from Rs 3,683 crores in FY24. Segment profit stood at Rs 169 crores, compared to a loss of Rs 328 crores in the previous year.

What Is Reliance Plan?

According to Reliance Retail, the acquisition of Kelvinator is part of its broader strategy to expand its product portfolio and improve access to technology-driven appliances in India. Both companies have outlined plans to invest in capacity expansion, product development, and wider distribution in response to increasing consumer demand in the sector.