Reliance Industries Limited plans to strengthen its consumer durable vertical in the coming months with the new brand Wyzr.
The Wyzr brand, managed by Reliance Retail Ventures, plans to manufacture a variety of small appliances, including irons and fans, as well as white goods and consumer durables like refrigerators and televisions, according to a report by Hindu Business Line.
Presently, Wyzr offers a range of products such as air coolers, mixer-grinders, and fans. Reliance aims to expand its portfolio by incorporating additional small kitchen, home, and garment care appliances in the near future.
According to a source familiar with the matter, Reliance Retail aims to establish a made-in-India brand within the consumer durable segment, offering high-quality products at competitive prices.
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Wyzr is targeting to provide cost-effective offerings in this sector, directly challenging the dominance of Chinese brands that have saturated online marketplaces.
Sources indicate that ResQ, a subsidiary of Reliance, is associated with Wyzr and will assist the brand with its after-sales services.
According to The BL report, initially, products will be manufactured on a contract basis, with plans to transition to in-house manufacturing once a certain volume is reached. Reliance has purportedly partnered with multiple manufacturing players within the industry.
The products are expected to be available across all channels, including Reliance’s own e-commerce platforms and other marketplaces. Currently, Wyzr products are accessible on Flipkart.
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Reliance’s foray into consumer durables is anticipated to entail inorganic expansion. The conglomerate is reportedly considering acquisitions of regional manufacturers renowned for their products’ strong brand recognition.
Coincidentally, Reliance’s expansion into other sectors like pharmacy, furniture, and apparel also entailed acquisitions, such as Netmeds, Urban Ladder, and Zivame. Additionally, Reliance Retail oversees brands like Tira and Ajio, both of which employ a private label strategy.
It remains to be seen whether Reliance opts to integrate Wyzr as a private label under the Reliance Digital umbrella or develop it as an independent business entity in the future.
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In the consumer durables sector, established players maintain a firm grip on the market, although startups like fan manufacturer Atomberg have gained significant traction with innovative products in recent times. Additionally, last year, at-home services unicorn Urban Company ventured into the consumer durables space with offerings such as water purifiers and smart locks.
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