ILVE has started 2024 with a new fully owned subsidiary in Australia and New Zealand. The owner of ILVE S.p.A. Alberto Illoti was in Australia recently to meet customers
ILVE relaunch in Australia and New Zealand
Monthly Archives: February 2024
LG Elec to upgrade your bathroom with high-tech appliances
LG Electronics Inc., the leading global home appliance maker, on Friday said it is set to showcase new products for bathrooms for the first time, making a foray into the sector.
The South Korean tech giant will unveil various appliances such as a shower head with a water purification filter at the 2024 Kitchen & Bath Industry Show (KBIS) in Las Vegas, Nevada, Feb. 27-29.
“We will continue to introduce smart life solutions across diverse categories, deeply rooted in our understanding of customer lifestyles, seeking to lead the market through thoughtful innovations for a better life,” Lyu Jae-cheol, president of LG’s home appliance and air solution division, said in a statement.
The Smart Bath and Shower Purifier filters out rust or residual chlorine from tap water to reduce skin irritation, LG said. The system features a function to maintain users’ water temperature preferences with a digital display that allows users to check and adjust the temperature.
The system also monitors water usage and provides timely filter replacement alerts to facilitate a consistently pure stream of water.
Whirlpool sells 24% of Indian subsidiary
Whirlpool corporation is selling a 24% stake in its subsidiary Whirlpool of India to various investors. The goal is to raise $451 million. The operation was officially announced last November and is part of the debt and invested capital reduction strategy which also led to the disengagement from EuropeWhirlpool of India sees its leadership position on the Indian white goods market undermined by competition, especially Korean competition, and closed its financial statements in December with a loss for the sixth consecutive quarter. The Indian stock market, on the other hand, is at historically very high levels. To be precise, Whirlpool Corp has put 19 million shares on the market and hopes to place another 11 million while remaining the controlling shareholder.
SEB ACQUISITION PROCESS OF THE SOFILAC GROUP AND ITS EMBLEMATIC BRANDS LACANCHE AND CHARVET
Groupe SEB wishes to strengthen its expertise in the high-end cooking segment and thus continue its growth in the professional and semi-professional markets.
Sofilac is a French family group majority owned by members of the Augagneur family. It designs, manufactures, and distributes high-end semi-professional (Lacanche brand) and professional (notably with the Charvet brand) cooking equipment. Lacanche, Entreprise du Patrimoine Vivant, and Charvet offer exceptional, timeless and durable products based on unique know-how. With its iconic brands, the Sofilac Group meets the requirements of professional chefs and cooking enthusiasts to allow them to best express their talent.
This acquisition would allow Groupe SEB to strengthen its presence in the cooking segment by completing its network made up of its premium brands (Krampouz, Forge Adour, WMF, All-Clad, and Lagostina). It would thereby support Groupe SEB’s ambition to become a key player in the profitable and growing professional and semi-professional equipment markets, with complementary brands, products and distribution channels.Manufactured for several centuries in a Burgundy village of the same name, whose history is closely associated with metalwork, Lacanche stoves and cookers perpetuate the French culinary tradition. A wide variety of options and finishes make each “Gastronome Piano” a unique object.
Faithful to its original values, this family business combines passion, innovation and know-how. Recognized as a “Living Heritage Company”, it pays particular attention to the nobility of the materials and components, as well as the quality of the enameled color adornments of its equipment.
GE and Tantalus partner on energy-efficient home
GE Appliances, a subsidiary of Haier, and Tantalus Systems have announced a collaboration aimed at reducing peak energy usage in home appliances, HVAC systems, and water heaters. The partnership aims to integrate the GE Appliances EcoBalance System with Tantalus’s TRUSense Gateway to help manage energy consumption in real-time and support grid modernization efforts.
The EcoBalance System, developed in partnership with Savant, allows consumers to control their energy usage through a market-leading capability. With the integration of the Tantalus TRUSense Gateway, which can be installed without replacing existing meters, appliances will be able to “communicate” with energy providers. This enables functions such as scheduling refrigerator defrost cycles or water heater charges during off-peak hours to save energy and reduce demand during peak times.
Kevin Nolan, President and CEO of GE Appliances, highlighted the potential impact of the partnership, noting GE’s extensive install base of connectable appliances that could significantly contribute to electricity savings. Peter Londa, President & CEO of Tantalus Systems, also emphasized the benefits of the collaboration for utilities, including improved resiliency and sustainability.
Russian manufacturers of household appliances asked for help
Russian manufacturers of household appliances are talking about record revenue, but they note problems with profits, which is due to increased production and advertising costs, competition from Chinese and Turkish companies, as well as increased commissions from marketplaces. Kommersant writes about this with reference to market participants.
A representative of the Redmond household appliance brand noted that manufacturers from friendly countries are increasing their influence, so the industry would benefit from government assistance. In particular, he asked for a ban on parallel imports of goods from vendors who left the Russian market.
Founder of the Smart Solution group (Jacky’s brand) Huseyn Imanov pointed out that his company’s revenue had doubled to 3.4 billion rubles. He expects growth of another 30 percent this year.
At the same time, on the issue of profit, the businessman believes that a number of manufacturers, especially small ones, will start to lose revenue. In his opinion, the high demand for placement on marketplaces leads to an increase in advertising prices on sites, which directly affects profits.
A representative of Weissgauf said that the brand’s revenue doubled in 2023, but expressed confidence that it would decrease in 2024 due to the increase in the cost of goods. The ruble exchange rate, inflation and other circumstances force Russian manufacturers to raise prices for goods, which is why they lose out to suppliers from China and Turkey.
He called the sanctions pressure a significant problem, which forces the use of gasket companies to organize custom production, which hits profits.
In turn, the commercial director Holodilnik.ru Alexey Pogudalov believes that a large localization of production in Russia could correct the situation. The expert stressed that the demand in the domestic market makes it possible to take such a step.
Schulthess Swiss brand of the year
Schulthess is Swiss Brand of the Year 2023/24 – Swiss Brand Monitor is an online survey. Consumers aged 18 to 82 were asked about their experiences with various brands. 190,000 customer opinions were obtained. Schulthess received the “Outstanding Quality” award for customer satisfaction.
SMEG new freestanding laundry appliances
SMEG launch new freestanding NovaCare washing machine, washer dryer and heat pump dryers. Stand out features include machines offering energy efficient modes, automatic detergent dosing systems, steam cleaning, as well as programmes for those with allergies.
Smeg’s freestanding range also benefits from full 5 year warranty for total piece of mind and can be stacked using the Smeg stacking kit
Haier Europe completes the installation of solar panels at its dishwasher factory
Haier have successfully installed solar panels in their dishwasher factory in Eskişehir, Turkey
By producing clean and renewable energy, we are estimated to cover approximately 60% of the total energy consumption expected for Haier dishwasher and tumble dryer factories in Turkey.
Haier believe that product sustainability is not just about the materials but also the energy required for manufacturing. This is why they plan to expand the solar panel project to other plants, in line with our target of having 60% renewable energy across all the company’s controlled sites by 2025.
LG Financial Results
LG announced its financial results for the year 2023, disclosing a consolidated revenue of KRW 84.2 trillion and an operating profit of KRW 3.55 trillion. This marks the third consecutive year of achieving record-breaking annual revenue. The operating profit is also solid, approaching levels seen during the prior period of pent-up demand.
Despite challenging external factors such as an economic slowdown and reduced demand, LG’s core business of home appliances and the burgeoning vehicle components business have demonstrated remarkable resilience, maintaining continuous growth for eight consecutive years. The combined revenue of these businesses exceeded KRW 40 trillion last year, a substantial increase from KRW 18 trillion in 2015. Over the same period, the proportion of these two businesses in the total revenue has risen from 32.5 percent to 47.8 percent.
The performance is attributable to LG’s strategic efforts to enhance its business portfolio. The company successfully expanded its B2B business by identifying market turning points early on and integrated new business models, including subscription services, into existing frameworks. Furthermore, LG’s innovative content and service business model, leveraging its extensive user base of hundreds of millions of products globally, has also contributed to securing robust profitability.LG Home Appliance & Air Solution Company achieved an annual revenue of KRW 30.14 trillion, marking eight consecutive years of growth and ushering in the era of KRW 30 trillion. Introducing new business models including subscription services and expanding the B2B share in areas such as HVAC, components and built-in solutions contributed to this growth. The operating profit recorded an increase of over 76 percent compared to the previous year, reaching KRW 2.08 trillion.
In the coming year, the Company will accelerate a shift in its business model towards future readiness, including Direct-to-Consumer initiatives. It aims to expand the deployment of home appliance operating systems and extend subscription services to international markets. Additionally, there will be a swift progression in building smart home solutions that reflect the value of “Zero Labor Home.” In terms of products, the Company will seek to maintain its strategic approach of solidifying the premium leadership of key products, such as washing machines and refrigerators, while swiftly expanding region-specific lineups. To sustain continuous growth in the B2B sector, especially in areas like HVAC, the Company plans to strengthen its capabilities by establishing a complete, local business operation that encompasses product development, production and sales, with a focus on the evident electrification trends in regions such as North America and Europe.
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