Whirlpool Of India Is Tying Up With Videocon''s Next Retail

Whirlpool of India is foraying the arena of financial services by tying up with Videocon''s Next Retail for giving easy and flexible credit to consumers. Forming a tripartite arrangement with ICICI Bank, the manufacturer and retailer are tying up to bear the interest cost burden of the loan given by a bank. Currently, Next Retail has 334 outlets and its exclusive alliance with Whirlpool of India would ensure additional share for the brand at its outlets. The fact that a home appliance manufacturer is taking on the interest burden of the consumer is a new concept in the market and with this they will be offering a better value proposition to their customers. With the purpose of bringing down the interest burden further, Whirpool is trying out this arrangement with Next Retail, before extending its services to other retailers.