Sunil Mittal enters consumer durables business, partners with Warburg Pincus for 49% stake in Haier India

In a significant development for India's consumer durables sector, Bharti Enterprises, owned by Sunil Mittal, and Warburg Pincus, a global private equity firm, have announced a strategic investment in Haier India, by acquiring a combined 49% stake in the Chinese home appliances giant's Indian subsidiary.

Globally, Haier has held the No.1 position in Euromonitor Global Major Appliances Brand for 16 consecutive years. Haier has 8 listed companies, with its subsidiary Haier Smart Home named among the Fortune Global 500 and Fortune World's Most Admired Companies.

The transaction, completed recently, will see Haier Group hold an equal 49% stake in its Indian operations and the remainder equity will be held by Haier India's management team. Haier India had in 2024, reported a 29% growth in revenue to nearly Rs 8,159 crore.

The strategic collaboration brings together Haier's global innovation capabilities, Bharti's extensive business network in India, and Warburg Pincus' proven track record in scaling consumer brands.

Haier has a vast distribution network across the country along with two state-of-the-art manufacturing facilities in Pune and Greater Noida. The company’s product portfolio ranges from refrigerators, air conditioners, washing machines, LED TVs, water heaters, deep freezers, and microwave ovens to kitchen appliances, with a special focus on Indian consumer demands.

The new capital infusion will support Haier India's "Made in India, Made for India" vision, with plans to deepen local sourcing, expand manufacturing capacity, and drive product innovation. The investment is expected to enhance the company's competitiveness across its entire value chain.

Haier India currently ranks among the top three consumer durables companies in the country, offering a diverse portfolio that includes air conditioners, refrigerators, televisions, washing machines, and kitchen appliances. The company has achieved an impressive compound annual growth rate of approximately 25% over the past seven years, among the highest in the industry.

The company is aiming to be the number two player in the Indian consumer electronics market, which is estimated to grow around double to Rs 2 lakh crore by 2030.

For Bharti Enterprises, this marks another collaboration with Warburg Pincus, combining forces to support what both parties describe as the next chapter of Haier India's growth story. Warburg Pincus emphasized that the investment reflects its ability to leverage pan-Asian expertise and deep local insights to accelerate growth for leading regional companies.

The transaction underscores growing investor interest in India's consumer sector as the country's middle class expands and demand for quality home appliances continues to surge.