Monthly Archives: January 2023

Vorwerk’s Kobold VK7 mop-vacuum awarded “Product of the Year 2023”

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German household appliance manufacturer Vorwerk  :  its Kobold VK7 multifunction vacuum cleaner -scrubber has received the “Voted Product of the Year” label, which can be affixed to the product box.

Kobold VK7 was reviewed by more than 15,000 consumers , against several competitors, via the research company NielsenIQ. Several criteria were then taken into account, including its  attractiveness , the consumer’s intention to buy  and his perception of the product as an innovation . Products with an above-average rating moved on to a real-life test: the Kobold VK7 was tried and judged by 120 families , who were satisfied.  

For just under €1450, the VK7 prides itself on being cordless , light (about 2kg) and efficient : it can wash 60m² in 10 minutes  thanks to its 2 suction outlets accompanied by a microfiber cloth. The device is also suitable for people with allergies, thanks to its filter bag capturing 99.99% of dust and allergens, according to the German inspection company TÜV Nord. Vorwerk ensures that the VK7 is suitable for all hard floors and offers a 5-year warranty on the device.

This is not the first time that the company has seen one of its products voted “Product of the Year”. Its renowned Thermomix TM6  had already received this label in 2020. The following year, it was the previous iteration of the Kobold vacuum cleaner that had been awarded.

Appliances become trillion euro market

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Appliances market size will grow reach over a trillion euros ($1.096 trillion) by the year 2030, according to a study by Precedence Research. But what are the key drivers for this market growth in the years to come?
A number of Technological advancements have been identified in the study as key reasons why the global household appliances market is expected to grow so much in the next seven years. Precedence Research cites the proliferation of digital technologies, as well as heightened investment from industry leaders in developing innovative appliances and services, as drivers for market growth.

New technologies emerging in the household appliance industry, such as robotics, artificial intelligence, machine learning and the internet of things, were listed as more causes for the market growing to over a trillion euros by 2030.

Developments within e-commerce, predicted to be the fastest-growing segment for household appliances, were also cited as drivers for market growth. E-commerce channels are seen to be enjoying an increase in sales of household appliances, due to the growing influence of e-commerce platforms, as well as wider availability of smartphones and the internet.

Refrigerators were noted as being the most in-demand household appliance, as well as the main driver of growth in terms of market segments. The report suggests that in the coming years, demand for refrigerators will partly be driven by the availability of different types of product, based on size, door and additional functions.

Precedence Research states that the Asia Pacific region is the most dominant in terms of household appliance revenue, with the area being the base for industry leaders such as LG, Panasonic and Samsun

EuroChef USA To Be Exclusive US Importer Of Lofra

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Lofra Italy has announced its partnership with EuroChef USA as the exclusive US importer of the brand’s kitchen appliances. Lofra has been manufacturing high-quality Italian home appliances since 1956. Designed and manufactured in the hills around the city of Padua, each Lofra appliance is carefully designed and built with the high-quality standards of a “Made in Italy” brand.

Miele presents Pioneering GmbH

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Miele has founded its own incubator in order to further promote the development of innovative solutions from within the ranks of the workforce and implement them faster. With Pioneering GmbH, Miele is ensuring a creative environment in which internal start-ups can bring their ideas to fruition faster, well away from established structures. Management of Pioneering GmbH is to be shared by Ina Nordsiek, Director Intrapreneurship within the business unit, and Hendrik Stegelmann, Director Digital Innovation and Products with Smart Home. Both will assume their new responsibilities alongside their existing tasks.

Particular attention will be paid to promoting business ideas which represent a strategic fit but are outside Miele’s previous core business field. «With Pioneering GmbH – Nordsiek explains – we are offering administrative freedom and elbow room and a professional and inspiring environment in which we bring together the best of the start-up and the Miele world». As Stegelmann added, «on the one hand, teams have the liberties and autonomy of a start-up whilst on the other being able to fall back on the support of a globally active family company».

In more concrete terms, ideas for innovative business models, product or process solutions from the New Growth Factory or Smart Home are transferred to the new company which, after careful evaluation by Miele, are considered promising. Once there, development of the so-called Minimum Viable Product continues through to market maturity, initial discussions with potential customers and market trials under real-life conditions. If the business case overcomes this hurdle, it is either integrated at Miele or pursued further as a separate start-up founded at that point

Whirlpool shares

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Whirlpool shares gained more than 1.9% in extended trading after the appliance maker shared strong guidance for the year. Fourth-quarter revenue came in at $4.92 billion, slightly behind the $5.07 billion expected by analysts, according to FactSet. The home appliances company also announced its chief operating officer would transition to an advisory role and then leave the company.

Teka triumphs triple at the 2023 Product of the Year Awards

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Teka, specializing in comprehensive solutions for the kitchen, has received three awards from the only contest in Spain where consumers annually choose the best innovations on the market, the Product of the Year Awards 2023. After an exhaustive study of more than 10,000 people representative of the Spanish population, After an exhaustive study of more than 10,000 people representing the Spanish population, the Product of the Year organization has awarded Teka in three of its main categories for MasterSense Air inductions, Gourmet BBQ barbecues and Sommelier wine bars.

Teka and the Product of the Year Awards
One of the awards has been received for the MasterSense Air induction, which combines a hood and induction hob in one and includes direct access and intelligent cooking functions. Thanks to its automatic system and temperature sensors, MasterSense Air allows the user to only have to choose a cooking function, for its part, the hob automatically reaches and maintains the temperature necessary to cook the selected recipe. In addition, the hood is also capable of starting automatically and adapting its intensity to the power required at all times.

The  have also stood out in this contest for their innovation. Its PerfectTemp technology creates up to three independent temperature zones so that we can store red, white and sparkling wine in one place, maintaining the properties of each of them. In addition, it is important that said temperature remains stable, so the SmartControl system prevents it from fluctuating by more than 1º. For its part, the innovative SurroundAir cooling system evenly distributes cold air to maintain a constant and homogeneous temperature throughout the interior. The Sommelier Series is designed to maintain all the flavor of the wine, and for this, it incorporates the HumidityControl system, which guarantees the right level of humidity, between 55% and 75%, thus preventing the cork from drying out and preserving its quality.

the Gourmet BBQ gas barbecue models have also received the Product of the Year seal. Gourmet BBQ has an ultra-fast automatic electronic ignition, non-stick cast iron grills and a grid for the perfect distribution of heat over the food. Not only is cooking very comfortable, thanks to its large cooking surface, but also its subsequent cleaning, since the tray located under the grill can be removed.

Forza @KBIS

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Forza, the ultra-premium Italian cooking appliances brand, spotlights its new 48-inch Professional Range Tops at the International Builders’ Show (IBS) and Kitchen & Bath Industry Show (KBIS) in Las Vegas, Nevada, from Jan. 31 to Feb. 2 with the American Gas Association in booth C2108.

“We are excited to add the 48-inch width to our lineup of professional range tops,” said Marco Guerzoni, Forza Director of Marketing and Product Development. “You can expect this handsome appliance to have the same high-quality power and radical Italian design that we showcase on each of our products.”

Ultra-premium Italian cooking appliances brand @ForzaCucina expands its range top line by adding a 48-inch model, which will be debuted at the 2023 International Builders’ Show in #LasVegas. @IntlBldrsShow #IBS2023 https://www.forzacucina.com/product-category/range-tops/

KEY FEATURES OF THE 48-INCH PROFESSIONAL RANGE TOP:

The 48-inch Professional Range Top features eight full brass burners—four front-range dual-flame burners that adjust from 685 Btu for simmering to a powerful 20,000 Btu, and four single-flame burners in the back that range from 2,200 to 12,000 Btu—for precise cooking control.
It is equipped with Forza’s continuous Infinito™ Grate System edge-to-edge cast iron grate system with an integrated bullnose – the industry’s largest continuous usable cooking surface.
It also comes with a fastback porcelain trim that provides a seamless integration into your kitchen island while increasing the usable cooking service even further for maximum efficiency.
The black porcelain spill tray makes cleanup simple while providing a dramatic aesthetic for the range top that emphasizes the brass burners, while the stainless-steel knobs with a red “racecar” stripe elevate your kitchen design.
Its bold form and style embody the soul of radical Italian design with the heart of an American muscle car, featuring unique angular racecar-inspired lines.
The new entry to the product line joins the previously released 30 and 36-inch models.
About Forza
Forza delivers dynamic Italian design with ultra-premium, professional cooking appliances. Designed and built in the heart of the famed Emilia-Romagna region in Modena, Italy, Forza appliances include professional gas ranges, dual convection electric wall ovens, professional range tops, high-performance ventilation hoods and a powerful, energy-efficient dishwasher. Forza is the American brand of parent company, Glem Gas, which has been producing high-performing appliances that embody the spirit of Italian craftsmanship for more than 60 years. For more information about Forza, visit forzacucina.com.

Arçelik Whirlpool update

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During the presentation of the fourth quarter results, Arçelik communicated the name of the new company that acquired the assets of Whirlpool Emea. This was reported by the Market screener website which quotes Arçelik’s quarterly report presented to shareholders yesterday.

It will be called Beko Europe BV, it will be a company incorporated under Dutch law and will have a production capacity of 24 million household appliances a year. The 20 thousand employees (6 thousand of Beko, added to the 14 thousand of Whirlpool) currently work in the 2 Romanian plants of Beko, in the 14 plants of Whirlpool in Italy, Poland, Slovakia and the United Kingdom, in the 25 offices of the European subsidiaries of Beko and across 38 Whirlpool EMEA locations.

In addition to the brands of the Arçelik group, Beko Europe will own the Hotpoint, Indesit, Bauknecht, Privileg and Ignis brands and will have the license to use the Whirlpool brand for 40 years.

Arçelik’s sales

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Arçelik has published the balance sheet data relating to the fourth quarter of 2022. Sales increased by 74% compared to the corresponding period of 2021 from 22.5 to 39 billion Turkish liras, (1.9 billion euros at current exchange rates) mainly thanks to the internal market.

Exports were depressed in quantity but much more profitable thanks to the weakness of the Turkish lira and the low cost of energy in the group’s plants. 
From a published graph it seems to understand that in Italy sales have contracted by about 5%, less than the European average.

Leveraging, i.e. the ratio between assets and debt, decreased in the fourth quarter thanks to the significant cash generation (the gross margin is around 29%). 

DE’ LONGHI: -2% TO 3.16 BILLION REVENUES IN 2022,

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Excellent news from America (+11%) and Asia (+16%) but in Europe, where the group generates 60% of its turnover, sales fell by 11% in the fourth quarter and by 10% in the whole of 2022 .De’ Longhi closed 2022 with consolidated revenues of 3.16 million euros, a decrease of 2% compared to 2021. In particular, the bad performance in the fourth quarter (-4%) weighed heavily. At constant exchange rates, i.e. without considering the effect of the euro falling against the dollar and other currencies, 2022 turnover would be 6% lower than that of 2021. De’Longhi, like the whole sector, had a good first semester and then suffered from the weakening of the demand for goods in the European area which represents around 60% of sales. In Europe De’Longhi sold 10% less than in 2021.

All non-European markets performed much better, in particular America (+10.8% to 624 million), the Middle East, India and Africa (+7.9% to 197 million) and the rest of Asia (+15.9% to 464 millions).

“ The fourth quarter performance ”, said the Chief Executive Officer Fabio De’Longhi , “ is a prelude to a possible trend in the margins of the year just closed in line with the high part of our guidance’, which estimated an adjusted EBITDA between 320 and 340 million. For 2023 De’ Longhi sees a year with sales ‘slightly down’, with ‘a second half of a slight recovery’ . The consolidated results will be approved by the board on 13 March.