Videocon ropes in Morf India to sell Kelvinator products
05 June 2012
Videocon group firm Electrolux on Monday entered into a marketing licence with Morf India under which Morf will sell the Kelvinator range of water purifiers and air purifiers in India and Sri Lanka.
Videocon largely owns the Indian arm of Kelvinator, a US company.
Morf will sell Kelvinator brand products in southern India initially and roll these out across India by 2013, the companies said in a joint statement.
Chennai-based Morf India aims to sell 40,000 units of its Kelvinator Ayoni water purifiers in India this fiscal. The company is also looking for venture capital funding of Rs10 crore to build its business.
Launching the Kelvinator Ayoni water purifier in Chennai, Morf India managing director M V Praveen said, "In the first year we plan to sell 35,000-40,000 units. By the end of this fiscal we will market our products in all Tier I Indian cities."
Electrolux Home Products Inc has licensed Morf India to market the Kelvinator brand water and air purifiers in India and Sri Lanka. The licence is for five years and could be extended, Praveen said.