EBG Group has signed a brand licensing agreement with South Korea’s POSCO International to manufacture and sell Daewoo branded major home appliances in India. The agreement expands EBG Group’s existing association with the Daewoo brand and gives it the rights to develop, manufacture, distribute, and expand the brand’s presence in the country’s major domestic appliances segment.
The company plans to invest Rs 100 crore over the next three years to support product development, expand its retail and distribution network, localize manufacturing, and introduce new appliance categories. As part of this expansion, EBG Group is preparing to open its first Daewoo experience store in Delhi, with three more outlets planned. It is also targeting a retail network of around 100 stores across India by 2027.
Initially, the company will focus on categories such as refrigerators, washing machines, air conditioners, and dishwashers, with additional appliance categories expected to be introduced in phases. The products will incorporate Korean technology, while around 16 percent of the initial portfolio will consist of energy efficient models.
Daewoo appliances will be sold through company operated stores, direct to consumer channels, ecommerce platforms, quick commerce platforms, general trade outlets, and electronics retail partners. According to the company, the licensing agreement covers product categories that account for nearly 70% India’s home and kitchen appliances market.
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, 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.”
He further added, “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% to 80% 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,” Irfan Khan added.
