Havells India Partners with Jumbo Group to Expand into the UAE Market

On June 10, 2024, Havells India Ltd announced in an exchange filing its entry into the kitchen appliances market through a strategic partnership with Jumbo Group in the UAE.

Jumbo Group is a leading distributor of consumer electronics and technology products in the UAE.

The company stated this partnership is set to enhance its product range and market penetration while facilitating Jumbo Group’s establishment of a substantial foothold in the Middle East. It will involve the introduction of Havells India’s top-tier kitchen appliances, including state-of-the-art mixer grinders, initially available on Jumbo’s online platform, followed by distribution in retail stores.

Havells’ energy-efficient appliances boast advanced technology, superior quality, and sleek design. They added that the product range will expand in the future and include premium juicers and cutting-edge air fryers, both available at Jumbo Electronics outlets and online. Additionally, Jumbo will manage distribution to retailers in the UAE to enhance brand visibility in the MEA (Middle East & Africa) region.

Jumbo Group’s Havells product line will be supported by Jumbo Serve, the UAE’s leading ISO 9001-certified after-sales service provider. Jumbo Serve will handle the warranty and contract services for all Havells products sold in the UAE.

Commenting on this partnership and expansion, the Senior Vice President of Havells India, Mr Rahul Murgai, said, “At Havells, our dedication to growing globally remains steadfast, embodying our ‘Make in India’ ethos for a worldwide audience. We are excited to announce our partnership with Jumbo as the distributor of Havells’ Kitchen Appliances in the Middle East. This collaboration not only marks a significant step in strengthening Havells’ brand presence but also in expanding our channel reach to significantly enhance customer access to our innovative products.”

The CEO of Jumbo Group, Vikas Chadha, said, “We are thrilled to enter the kitchen appliances market through our partnership with Havells India Ltd, a company that aligns with our vision of quality and innovation. With the growing demand for kitchen appliances, this partnership will allow us to provide our customers with the best products available, enhancing their lifestyle and convenience. Looking at the growing tech-savvy customer base, we start availability with e-commerce and then expand to retail stores, ensuring that we provide maximum accessibility and convenience to our customers.

On June 10, 2024, the share price of Havells India Ltd opened at ₹1,860.00, touching the day’s high at ₹1,885.90, as of 1:40 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.