RR Kabel buys Luminous' home electrical business from Schneider
By MYBRANDBOOK
RR Kabel has acquired Luminous Power's home electrical business (HEB) from French engineering company Schneider. This acquisition will further strengthen RR Kabel's consumer electrical business, which has a portfolio of fans, lights and appliances. The company's Managing Director Shreegopal Kabra said, the transaction is subject to closing adjustments and is expected to complete in May this year. Kabra said both the companies are unlisted entities and have decided not to disclose the amount.
Besides, RR Kabel plans to bring its IPO and get the company listed on stock exchanges in the last quarter of 2023.
Luminous' HEB consists of fans and lights and would help RR Kabel enter into the premium segment of this category.
Under this category, Luminous recently introduced its series of energy-efficient star-rated premium designer fans in India.
As part of the deal, RR Kabel would have rights to use the Luminous brand for four years for the existing product lines of fans and lighting under a Brand Licensing Agreement, Kabra added.
Commenting on the development, RR Kabel CEO Consumer (FMEG) Business Vivek Abrol said, after the deal, the company is now "reorienting" its target for the segment. Abrol added, “Earlier, our vision without this Luminous HEB was, touching Rs 1,000 crore business in next 3-4 years time. However, the goal is now reoriented. We want to touch about Rs 2,000 crore in next 5 to 6 years".
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
PRAMA HIKVISION INDIA PRIVATE LIMITED
FRESHWORKS TECHNOLOGIES PVT. LTD.
TAC SECURITY SOLUTIONS
ADITYA INFOTECH LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
Icons Of India : NATARAJAN CHANDRASEKARAN
Natarajan Chandrasekaran (Chandra) is the Chairman of Tata Sons, the h...
Icons Of India : Dr. Sanjay Bahl
Dr. Sanjay Bahl has around four decades of experience in the ICT indus...
PARTNER SPEAKERS
PSU
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - RAVI KUMAR S, CEO- Cognizant
Ravi Kumar S, appointed as CEO of Cognizant in January 2023, sets the ...
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
