Monthly Archives: March 2024

Andrea Romeo, Sales DIrector for LG Italia Home appliances

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LG Electronics Italia announces the entry of Andrea Romeo as Sales Director of the Home Appliances (HA) division

Romeo, who will report to the Sales Director Consumer Electronics Francesco Salza, will be head of the Home Appliances division and will focus on the development of new commercial strategies aimed at consolidating LG’s presence on the white goods market as leader of the premium washing and cold segments and aim to grow in other product categories such as dishwashers and vacuum cleaners

Yannick Fierling leaving Haier

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Changes at the top of Haier Europe Yannick Fierling,is leaving ,He joined the Chinese multinational as CEO Europe: it was 2015 and he came from another top position, that of CEO of Whirlpool Europe

he helped build Haier from practically from zero one of the leading home appliance companies in Europe, growing faster than all their competitors for eight consecutive years and multiplying by 10 the turnover. There is more. They out the first Chinese company entering the Frankfurt Stock Market, made a successful acquisition and brought the group to the 3rd position today in Europe. And have built five factories, and  doubled the number of employees

UK Antitrust gives green light to the joint venture between Whirlpool and Arçelik: Beko Europe is born

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Arçelik’s main goal is to create the future leader of the home appliance industry, and certainly this agreement marks a significant step towards that direction. In any case, the new industrial entity, Beko Europe, will include a wide range of brands of great relevance in the sector, ranging from Whirlpool itself to Indesit, Bauknecht, Privileg, Ignis, Grundig, Arctic, Elektrabregenz, Flavel and Leisure, Hotpoint, Altus and Blomberg. This diversification of the brand portfolio will provide a unique opportunity for the new joint venture to reach a wide range of consumers and consolidate its presence in the global home appliance market The agreement will also have an important impact on Italian territory. Arcelik will provide two factories in Romania to the new company, while Whirlpool will move its European large household appliances business unit, which includes seven factories in Europe and employs a total of 14,000 employees. In Italy, the operation will involve various factories, such as those in Siena for freezers, Comunanza (Ascoli Piceno) for washing machines and washer-dryers, Melano (Ancona) for hobs and Cassinetta (Varese) for built-in refrigerators and microwave ovens. Furthermore, the Carinaro (Caserta) site will be involved with a logistics warehouse and a reconditioning center for damaged Whirlpool products.

Dualit unveil  latest innovation: the NEW Cocoatiser Hot Chocolate Maker.

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Enjoy café quality hot chocolate at home, every day. With the Cocoatiser™, you can make velvety smooth hot chocolate, to rival even the finest coffee shops! No need to buy a special brand, use your favourite chocolate or experiment with different types or flavours. The range of unique, patented accessories ensures perfectly texturised frothed milk for a variety of chocolate drinks including hot chocolates, mochas, chocolate milkshakes and more. It’s the ultimate luxury gift for hot chocolate lovers!

Domestic appliances deal cleared by the CMA

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Following a provisional clearance in February, the CMA is now allowing the proposed deal between Arçelik and Whirlpool to go ahead.Arçelik and Whirlpool are two of the largest suppliers of major domestic appliances (MDAs) in the UK, including washing machines, tumble dryers, dishwashers and cooking appliances. Arçelik supplies MDAs primarily under the Beko, Blomberg and Grundig brands, and Whirlpool supplies MDAs primarily under the Indesit and Hotpoint brands.

The Competition and Markets Authority (CMA) referred the deal to a Phase 2 review after initially identifying concerns which warranted further investigation during its Phase 1 investigation.

Since then, an independent CMA panel has gathered and analysed a wide range of evidence – including seeking views from businesses and customers – in order to assess the potential impact of this deal.

The panel reviewed evidence which showed that while Arçelik and Whirlpool both have strong market positions, they will continue to face significant competition from other suppliers. This includes well known suppliers and brands such as BSH (including its Bosch and Neff brands), Haier Group (including its Hoover and Candy brands), Samsung and LG; retailers’ ‘private label’ brands such as Logik and Bush (Currys and Argos); and more recent entrants such as Hisense.

The evidence also showed that the competitive landscape has changed considerably in recent years and continues to do so. Whirlpool’s market position in MDAs has significantly declined over the last decade, and it is likely that its European MDA business will be fundamentally different in the future. At the same time, suppliers such as Haier Group and Hisense have gained market share, and it is likely that they will continue to expand. These market dynamics are supported by a range of evidence, including from internal documents, financial analysis and third parties.Arçelik will set up a new standalone business, Beko Europe B.V., to which Arçelik will contribute its European MDA and small domestic appliances businesses and Whirlpool will contribute its EMEA MDA business. On completion of the deal, Arçelik will hold c.75%, and Whirlpool will hold c.25%, of the shares in Beko Europe.

Currys should hold out for £1bn takeover offer, says shareholder

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Currys shareholder has said the retailer should hold out for an offer worth £1bn amid the ongoing takeover saga between Waterstones owner Elliott Advisors and Chinese online shopping giant JD.com.

JO Hambro Capital Management (JOHCM) UK Equity Income fund, which is a top 10 shareholder, said an offer between 80p and 100p per share would be “acceptable”.