"Daewoo India to Invest ₹300 Crore Over Next 3 Years for Product Line Expansion"

Daewoo India, a subsidiary of the South Korean conglomerate, has announced a substantial investment plan of approximately ₹300 crore over the next 2-3 years, as it aims to venture into new market segments and strengthen its presence in the country.

This strategic move is facilitated by a partnership with Kelwon Electronics and Appliances, the exclusive brand licensee for Daewoo in India, led by HS Bhatia, an industry veteran with prior experience at LG and Airtel.

To kickstart this expansion, the company has already launched an impressive lineup of 23 products in the battery and inverter segment. Daewoo India is now poised to diversify into consumer electronics and electric two-wheelers within the upcoming two years.

HS Bhatia, Managing Director of Kelwon Electronics, shared insights into their investment strategy, stating, "Over the next 2-3 years, we are planning to allocate around ₹300 crore. We will initially invest ₹40-50 crore to bolster one product category. Subsequently, as that segment scales up, we will earmark another ₹100 crore for further diversification into products like electronics, with the remaining funds dedicated to market expansion."

This initiative reflects Daewoo India's commitment to innovation and expansion in the rapidly evolving Indian market. It seeks to position the brand as a significant player in multiple product categories, offering a wide array of consumer choices in the coming years.

HBL