The firm has quietly introduced a selection of coolers under the Wyzr brand, now accessible on Flipkart.
According to a report, Reliance Industries is set to step into the consumer durables market, introducing an array of white goods and electronics in the coming months. The project will encompass a diverse range of products such as fans, refrigerators, and televisions.
The Wyzr Brand Strategy:
As per the report, Reliance intends to commence production of these items through contract manufacturing initially. Once production levels reach a certain threshold, the company intends to transition to independent manufacturing. Reliance Industries has forged partnerships with various industry participants who also manufacture for other brands.
Reliance has softly introduced a line of coolers under the Wyzr label, now retailing on Flipkart. The newspaper reports that food processors and electric kettles will join under the same brand shortly. These items will be accessible at Reliance’s own stores such as Reliance Digital, along with other retail formats.
Reliance’s strategy aligns with the consumer durables and home appliances sector’s expectations of rising rural demand, fueled by government infrastructure projects and a goal to construct 20 million rural homes in the next five years. The housing initiative was unveiled in the interim budget presented in February.
Voltas Managing Director Pradeep Bakshi informed PTI that the interim budget’s focus on infrastructure projects such as railways, roads, urban infrastructure, power, and the green growth agenda is expected to foster a more sustainable future. He expressed optimism that these policies would significantly boost the consumer durables industry in 2024-25, indicating a firm dedication to a favorable outlook.
Mukesh Ambani-led Reliance Industries is venturing into the consumer durables sector, intending to introduce an extensive array of products ranging from small appliances like irons and fans to white goods and consumer electronics such as refrigerators and televisions over the next several months.
The products will initially be produced under contract, with plans to transition to in-house manufacturing once volumes are adequate. The company has reportedly partnered with various industry players also manufacturing for other firms. It has already quietly introduced a line of coolers under the Wyzr brand, now accessible on Flipkart. Sources indicate that additional categories such as food processors and electric kettles will soon follow under the same brand.
The products will be available through various channels, including Reliance Digital and other outlets owned by the company. To expand further, acquisitions are being considered, with a focus on regional players known for their strong brand recognition.
In the consumer durables sector, RIL will face stiff competition from established players in India and internationally. Analysts noted the challenge of displacing these competitors due to their strong brand loyalty and performance assurance. They suggested that unless RIL acquires a major player, its own brands may struggle to make an impact in the market, similar to its experiences in the apparel, pharmacy, and furniture segments. However, it could potentially compete with lower-priced Chinese brands. Reliance Retail Ventures, leading the consumer expansion, has swiftly become India’s top retailer, surpassing ₹3 lakh crore in revenue in FY24 through strategic acquisitions and partnerships with prominent brands, both local and global. While it has seen some success with its own brands in apparel and footwear, it has faced difficulties in the fast-moving consumer goods sector, where brand building takes time.
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