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100-store expansion roadmap, and
phased localization strategy to drive Daewoo's growth in India's fast-growing
appliances market
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Daewoo plans to introduce
"DAEWOO One", an integrated smart home ecosystem designed to connect
multiple appliances through a single platform while integrating AI and
IoT-enabled technologies to create a seamless home experience
New Delhi: EBG
Group, a diversified business group, has signed a strategic brand licensing
agreement with South Korean giant POSCO International for the iconic Daewoo
brand in the Major Domestic Appliances category. Building on its existing
association with Daewoo, the agreement enables EBG Group to accelerate the
brand's retail, distribution, and market expansion plans across India. The
partnership covers categories accounting for nearly 70 per cent of the Home
& Kitchen Appliances segment and aims to establish Daewoo as a leading
consumer appliances brand in the country.
As part of its expansion roadmap, EBG Group
has committed an investment of ₹100 crore over next three years towards product
development, retail expansion, distribution network strengthening, localization
initiatives, and the introduction of new appliance categories tailored to the
evolving needs of Indian consumers. To support its nationwide ambitions, the
company is building a robust retail and distribution ecosystem. Its first
flagship Daewoo experience store in Delhi is nearing launch, with three additional
outlets already in the pipeline. EBG Group aims to establish a network of
approximately 100 stores across India by 2027.
Under the agreement, EBG Group will lead the
development, manufacturing, distribution, and market expansion of
Daewoo-branded appliances across India. The company will initially focus on
major home appliances, including refrigerators, washing machines, air
conditioners, dishwashers, and the entire range of consumer products in a
phased manner. Supported by advanced Korean technology, the portfolio is
designed to deliver performance, reliability, and energy efficiency for Indian
households, with approximately 16 per cent of the initial product range
comprising energy-efficient offerings that support more sustainable
consumption.
Mr. James Lee, Director of POSCO INTERNATIONAL
Corporation said, "India represents one of the most
dynamic growth markets for consumer appliances globally. We are pleased to
partner with EBG Group, whose deep understanding of the Indian market and
long-term vision make them the ideal partner to expand Daewoo's presence in the
country. Together, we aim to deliver innovative, reliable, and energy-efficient
products that meet the evolving expectations of Indian consumers."
Commenting on the partnership, Dr. Irfan
Khan, Founder of EBG Group said, "We are delighted to partner with
POSCO International to bring Daewoo's trusted global legacy to millions of
Indian households. This partnership lays the foundation for building a
long-term consumer appliances business in India. Through our planned investment,
localisation roadmap, extensive distribution network, and customer-focused
growth strategy, we are committed to making Daewoo a preferred brand for Indian
consumers."
“The products will be initially assembled in
India using imported components, with localisation levels planned to increase
progressively from 20 per cent to 80 per cent over time. The initiative aligns
with the Government of India's Make in India vision, supports domestic value
creation, and is expected to generate employment opportunities across
manufacturing, retail, distribution, and after-sales operations,” Dr.
Irfan Khan added.
Daewoo products will be available through a
comprehensive omnichannel network comprising company-operated stores,
direct-to-consumer platforms, e-commerce marketplaces, quick commerce channels,
general trade outlets, and electronics retail partners. Further, Daewoo plans
to introduce "DAEWOO One", an integrated smart home ecosystem
designed to connect multiple appliances through a single platform. The company
also intends to expand its portfolio of energy-efficient products while
integrating AI and IoT-enabled technologies to create a seamless connected-home
experience for consumers.