Voltas Set to Enter Home Appliances Segment with Voltbek Brand
Voltas, India’s leading name in the air-conditioning segment, is all set to launch a new brand of home appliances called Voltbek. The new brand is a joint collaboration between Voltas and Arcelik, and will offer refrigerators, washing machines, and kitchen appliances among others.
Voltas has begun sending out press invites for the launch event of the Voltbek-branded appliances which is scheduled for September 13 in New Delhi.
“Turkey’s prestigious and major consumer durables manufacturer, Koç Group’s, Arçelik A.S. Beko and Voltas have formed a joint venture which goes by the title of Voltbek Home Appliances Private Limited or Voltbek. This is a brand new assortment of home appliances that’s been launched with the concept of becoming the’Associates of Everyday’ to our clients”, a Voltas spokesperson said. The Voltas Beko team has already started the development of its initial Indian production center in Gujarat, which can be distributed over 60 acres.
Earlier this season in May, Voltas entered into a joint alliance with Ardutch BV, a subsidiary of Koç Group’s Arcelik which generates the Beko new home appliance. Originally called Voltas Beko and recorded as Voltbek Home Appliances Private Limited, the Voltbek manufacturer marks Voltas’ entrance into India’s house appliance and consumer lasting section that’s asserted to be worth over Rs. 35,000 crores.
With the Voltbek brand, the Tata Groups company aims to capture a market share of 10% in the home appliances segment valued at around Rs. 3,500 crores, and seeks to challenge the dominance of international brands such as LG and Samsung.
Despite having a much smaller retail presence and distribution chain compared to the likes of LG and Samsung, analysts predict that Voltbek will compensate for it with competitively priced products which undercut the home appliances offered by rivals companies.