November 16, 2004 | The Asian Age
Voltas to re-enter fridge market
The Tatagroup firm, Voltas Ltd, will 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 refrierator 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 air-conditioning market," Mr Jawa said. Voltas had launched ACs in the sub-one tonne capacity priced below Rs 10,000 last summer and buoyed by the success, introduced 0.8 tonne split ACs priced at Rs 15,000. Voltas will also launch 55 litre refrigerators under the 'Coldcell' brand in 11 cities of the country.