Reliance Group To Boost Wyzr Goods Into Indian Consumer Goods Market
By: Geetanjali
Reportedly, Reliance Industries Limited (RIL) is set to ink an production agreement with contract manufacturers Dixon Technologies and Mirc Electronics (parent company of Onida) which are among India’s largest consumer goods manufacturers to broaden the reach of its newly launched consumer goods brand Wyzr in the Indian consumer electronics and home appliances market.
Wyzr Reliance consumer goods brand was launched in the FY 2023-24, through Wyzr RIL aims to overthrow the big MNC and capture domestic consumer goods market, taking forward the legacy of made-in-India. In its first phase of production Wyzr introduced a range of coolers with its plan to expand its production into different categories like T.V, refrigerators, washing machines, air conditioners, LED bulbs and other small appliances. Aiming to curb the domestic sphere in a market majorly controlled by foreign brands.
The company looks forward to establishing its own manufacturing plants in the future to manufacture all electronic appliances. Alongside it also aims to develop and design products within the company, they also look forward to the distribution of finished products through Reliance Digital stores, individual retailers, regional retail chains, and e-commerce platforms like Flipkart, Amazon, along with Jio Mart Digital (JMD) which is responsible for B2B distribution, and other offline stores as well.
Coming to the price point, as per the report from Economics Times Wyzr, is expected to provide comparatively cheaper products than its foreign counterparts, L.G, Samsung, BOSH, Whirlpool etc. especially in home appliances category.
There have been ongoing discussions about using Sanmina’s 100 acres manufacturing unit in Chennai which was acquired by RIL in 2022 by buying 50.1% stakes worth Rs, 1,670 crore, to manufacture Wyzr products in the near future, though Innovative Zone could not confirm this speculation independently.