In a strategic move to bolster its presence in the domestic consumer electronics and home appliances market, Reliance Industries Ltd (RIL) is on the brink of finalizing production agreements with renowned domestic contract manufacturers Dixon Technologies and Mirc Electronics, the parent company of Onida. This development, as reported by the Economic Times (ET) on Wednesday, underscores RIL’s ambitious plans to expand its newly launched brand, Wyzr.

Launched in the fiscal year 2023-24 (FY24), Wyzr initially debuted with a line-up of coolers. However, as part of its expansion strategy announced alongside its FY24 financial results on Monday, RIL aims to diversify its product offerings across various categories. Spearheaded by Mukesh Ambani, RIL sees Wyzr as a formidable challenger to the dominance of multinational corporations in the local consumer electronics and home appliances market.

ET’s report indicates that RIL envisions establishing its own manufacturing facilities in the medium term, contingent upon the brand’s traction in the market. Through its retail arm, Reliance Retail, the conglomerate plans to broaden Wyzr’s product portfolio to encompass televisions, washing machines, refrigerators, air conditioners, small appliances, and LED bulbs. Notably, RIL intends to drive innovation internally, seeking to carve out a niche for a homegrown brand in a market largely dominated by foreign labels.

In a departure from its previous strategy of launching private label brands like Reconnect, relying on third-party manufacturing, RIL now pivots towards a more independent approach with Wyzr. While reconnect continues to cater to accessories, Wyzr represents RIL’s renewed commitment to in-house design and manufacturing control.

Wyzr products are poised to enter the market with competitive pricing, challenging established brands such as LG, Samsung, and Whirlpool. Despite Tata-owned Voltas leading the AC market, RIL aims to disrupt the status quo, drawing inspiration from its successful foray into the feature phone market with the JioPhone. Moreover, RIL aligns its efforts with the government’s Make in India initiative, reflecting its commitment to domestic manufacturing.

Dinesh Taluja, CEO of Reliance Retail, underscored the company’s endeavors to scale up its FMCG business during the earnings call. Notable successes include strong traction and customer acceptance for brands like Campa and Independence in the beverages and staples segments, respectively. With annual profits surpassing the Rs 10,000 crore milestone for the first time in its fourth quarter earnings, Reliance Retail continues to witness robust growth across various segments, including the grocery, fashion, lifestyle, and consumer electronics sectors