Under the Wyzr brand, the Mukesh Ambani-led Reliance Industries (RIL) is all set to enter the consumer durables market.
Plans for White Goods and Electronic Products Under Wyzr Brand
As per the reports, the company is all set to launch a variety of white goods as well as electronic products which include fans, refrigerators and televisions over the period of next 3 months.
At the moment, company is planning to manufacture these products under contract and only when they capture a certain amount of share in the market, will they begin to produce them themselves.
Under the Wyzr brand, soft launch of a range of coolers has already been done by Reliance.
Currently, on sale on e-commerce platform Flipkart. It would be under the same brand that the company would launch food processors as well as electric kettles.
Notably, Wyzr will sell only Made in India products.
Once they gain traction, they shall also be made available at Reliance’s own outlets like Reliance Digital and other retail formats.
Challenges and Opportunities in Entering the Competitive Home Appliances Market in India
There are many players in the space for decades which include the likes of Tata, Samsung, LG and now Reliance entry would mean locking horns with such giants.
With majors like LG, Samsung, Haier, Whirlpool and Daikin in the Rs 1.1 lakh crore TV and other Home Appliances Indian market, Reliance is trying to get something of the pie.
Notably, this move comes when there are anticipations about the increased rural demand in the consumer durables and home appliances market.
The incumbent government plans to build 20 million homes in rural areas over the next five years.
