Tata group firm Voltas Ltd would re-enter the refrigerator market as part of its strategy to leverage on the strengths of its air-conditioning business.
“We will make a re-entry into the fridge market by early next year. We are again entering the refrigerator market with the Indicool brand”, Voltas Vice-President (Operations) K J Jawa said.
The engineering and air-conditioning solutions company had sold the Voltas brand and its refrigerator business to Electrolux in 2000.
According to an agreement between the two companies, it was decided that Voltas would not sell refrigerators in the market directly till 2006.
Our decision to enter the refrigerator market was largely spurred by the success of the company in the Indian AC market, Jawa said.
Voltas has launched ACs in the sub-one tonne capacity with below Rs 10,000 price tags last summer and buoyed by the success, introduced 0.8 tonne split ACs at Rs 15,000.
Voltas would also launch 55 litre refrigerators under the Coldcell brand in 11 cities and the brand would be an extension of the refrigerated glass door coolers for commercial buyers like Coca-Cola and Nestle, Jawa added.
From Sify Finance