Haier, the world’s number 1 white goods brand, to consumers in Turkey. They recently opened the Haier area located in Mediamarkt Tech Arena
Haier launch in Turkey
Monthly Archives: October 2023
Groupe SEB Results
Groupe SEB maintains its momentum for a return to historical profitability levels. Consumer business delivered solid organic growth in sales, on par with that of the second quarter, driven by innovation initiatives across all our regions. The Professional business posts very good results thanks to record sales in coffee. The Group enjoyed a number of commercial successes in 2023 with, in particular, the roll-out of major contracts, as well as a solid core business. Hence, they confirm the Group objectives for the full year, respectively mid-single digit organic revenue growth and an increase in Operating Result from Activity of at least 10%.” Stanislas de Gramont , Chief Executive Officer of Groupe
Electrolux cost reduction
The Electrolux Group continues its cost reduction project in order to improve margins. The goal is to achieve savings of 10-11 billion Swedish crowns (840-920 million euros) in 2024 compared to 2022. In the past the savings target was 7 billion crowns.
Among the measures announced when sharing Q3 results, the group will be reorganized into three regional divisions and two global product lines reporting to the CEO to reduce top management levels.The company posted a third-quarter net profit of SEK123 million from a loss of SEK605 million,Sales fell 5.2% to SEK33.43 billion, versus the SEK34.1 billion
Haier I-PRO 7 Dishwasher
Introducing our brand new range of dishwashers, Haier I-Pro Shine Series 7, that sets new standards in the areas of design, performance, and usability.
Haier I-Pro Shine Series 7 dishwasher has an impressive A-30% energy rating and is the most spacious dishwasher currently available on the market. Additionally, it offers 60% higher cleaning performance due to the advanced H-Spray Arm and Cutlery Shine Plus systems
Stefan Koss is the new president and CEO Region North America of BSH
Stefan Koss is the new president and CEO Region North America of BSH Home Appliances Corporation where he is responsible for driving the company’s growth and managing business operations. Koss most recently served as VP Controlling, M&A and Risk Management, Corporate, at Global Headquarters Robert Bosch GmbH, parent company of BSH Home Appliances Group. He began his career in the management program at BSH Home Appliances’ corporate office in Munich gaining cross-functional commercial training and exposure across various divisions and sites. His BSH tenure also includes a variety of strategic leadership and business administration roles in several regions including Europe, China, and North America.
Koss’ previous North America positions include Director of Business Administration for US Manufacturing Operations in New Bern, NC, from 2006 to 2009 where he played a pivotal role in transforming the manufacturing facility from an engineering-centric location to a market-oriented, sustainable organization. He then moved to the Region North America headquarters in Irvine, CA, from 2009 to 2012, serving as Chief Financial Officer and Executive Vice President, where he was responsible for overall business support and governance.
In his new position, Koss also serves on the Board of Management for Region North American, joining Jesus Egido, Chief Financial Officer, as well as Chief Technology Officer Andy MacLaren, both longtime BSH executives with 25 and 21 years of service respectively. We are honored to have Mr. Koss join BSH Home Appliances Corporation, Region North America, as president and CEO and lead our organization’s growth – Egido said -. His extensive experience within the global network of BSH companies and Robert Bosch will further advance our aggressive growth strategy here in North America.
InSinkErator new waste disposal
InSinkErator has introduced the next generation of its waste disposals. Completely redesigned to grind more types of food waste and do so quietly, the new Power and Advance Series products feature the company’s re-engineered MultiGrind and SoundSeal technology. InSinkErator has also simplified the installation with the new EZ Connect technology. “Providing products for cleaner, fresher, more sustainable kitchens has been our focus for more than 85 years – said Joe Dillon, president –. Now, we’re proud to take the next step in combining our easiest installation technologies with our quietest and most advanced grinding technologies that will make disposing of food waste and leftovers quicker and easier than ever”. The new garbage disposals have been designed to grind food waste into finer particles that easily flow through household pipes, giving homeowners more confidence to use their garbage disposal without fear of plumbing issues.
Bertazzoni among the Historic Italian Companies
Bertazzoni has been included in the Register of Historic Italian Companies, sponsored by the National Union of Chambers of Commerce. «The presence in this prestigious national archive – the company commented – which collects the historic enterprises of our country, confirms the value and importance of Bertazzoni in the Italian historic and business panorama and helps to further enrich the company’s storytelling, consolidating its role as a protagonist in the industrial history of our country».
Three are the mail pillars that made the history of Bertazzoni: Family, Food and Engineering. They guided the design and development of excellent products since 1882. One of the first industrial trademarks registered in Italy, Bertazzoni is the oldest family-owned household appliance company in the world.
The brand has evolved over time, adapting to the needs of the most demanding cooking enthusiasts and making the most of the engineering culture, design and gastronomic tradition of a territory to which it is closely linked.
Elica results
Elica turnover -14% in the first 9 months but margins hold up.The good performance of own brands does not compensate for the continuous slowdown in OEM orders in cooking and recently also in heat pumps Board of Directors of Elica SpA approved the results as of 30 September 2023. Revenues fell significantly: 360 million which means -14% compared to the first 9 months of 2022. The weakness of cooking continued, aggravated by a significant slowdown in the heating motors segment.
In this context, Elica managed to defend the margin which remained at 10.4%, no small achievement for an industrial company. In fact, EBITDA fell consistently with sales: -13.4%. The same goes for profits: 9.6 million, i.e. 13.3% less than the first 9 months of last year. Debt did not increase compared to the previous quarter: 47 million.
Cooking: – 14%
The Cooking division, which represents 77% of total turnover, recorded a decline of -14.6% (-13.7% at constant exchange rates and scope). The destocking phase in the OEM area continues , recording a significant double-digit contraction. In other words: Elica’s client brands do not sell and therefore produce less and do not buy components. Elica’s own brands perform better than the market and are more profitableDespite a persistent negative scenario, we proactively and quickly addressed unexpected challenges, integrating these variables into our managerial style, rather than playing defense. The actions and projects launched, both at product and distribution level, will give us the possibility of restarting at double speed as soon as the market becomes receptive again and – even in the event of a still difficult scenario – they will be further levers to pull to start again to grow ” declared Francesco Casoli, President of Elica.
Electrolux new chairman
As previously communicated, Staffan Bohman has announced that he will not be available for re-election at the Annual General Meeting 2024. The Nomination Committee proposes that Torbjörn Lööf is elected as new Chairman of the Board at the Annual General Meeting of AB Electrolux on March, 27, 2024.
Torbjörn Lööf is Board member of Husqvarna AB, Essity Aktiebolag, AB Blåkläder and Mercer International Inc. During the period 1989-2020, Torbjörn Lööf has held several senior management positions within the IKEA-sphere. Among other positions, he has been CEO of Inter IKEA Holding, Inter IKEA Systems and IKEA of Sweden. He has also held senior management positions at IKEA in Sweden and Italy and been Chairman and Board member of numerous IKEA-companies.
Torbjörn Lööf is born 1965 and is a Swedish citizen.
Torbjörn Lööf has a solid background within the IKEA-sphere with extensive experience of working with a strong brand, global supply chains and strategic ability to develop and successfully adapt the business in a changing global environment as well as experience as Board member of public companies. It is the opinion of the Nomination Committee that this makes him very well suited as Chairman of AB Electrolux to lead the company’s ongoing work to sharpen its strategic focus to grow profitably in selected home appliance categories in the mid- and premium segments and enable return to good results and profitability levels and achieving the company’s financial targets.
The Nomination Committee’s complete proposal will be presented in the notice to the Annual General Meeting 2024
Right to Repair press release
MEPs adopted measures to stimulate consumers to repair products instead of buying new ones
Access to affordable spare parts for independent repairers and more choice for consumers
EU consumers lose around €12 billion every year by choosing replacement over repair. press release https://www.europarl.europa.eu/news/en/press-room/20231023IPR08160/right-to-repair-incentives-for-consumers-to-repair-rather-
WHITEGOODSNOW 