Monday, July 18, 2005
Videocon takes charge of Electrolux
Allwyn and Kelvinator, two well known brands of refrigerators which had almost lost its market share are all set to hit the Indian market again. Videocon has taken control of Electrolux’s manufacturing facilities in the country and Aniruddh Dhoot has been appointed in charge of the Electrolux brand, by father Venugopal Dhoot. The acquisition of the three white goods brands is expected to help Videocon shore up its volumes in the refrigerator and washing machines market where it has lost share heavily due to the entry of the Korean brands LG and Samsung in India . Electrolux, as a result of this strategic partnership with the Videocon Group, will move from a subsidiary to a licensing model. The licenses will be managed through a new branch office of AB Electrolux in India which, together with Videocon, will promote the sales of Electrolux products.