Fnac-Darty has announced the launch of a project to acquire Unieuro SpA, the leading distributor of electronics and household appliances in Italy. “This project represents a unique opportunity for the Group to strengthen its position as a leader in specialized distribution in Western and Southern Europe, and a key player in the consolidation of the European market,” comments Enrique Martinez, CEO of Fnac-Darty. This merger with Unieuro SpA would create a group with a turnover of over €10 billion, 30,000 employees and over 1,500 stores, a leader in all its geographies. “This transaction is perfectly in line with our project
Monthly Archives: July 2024
Electrolux returns to profit but no rebound expected at year-end
The Group’s losses in the US have been reduced but the market in Europe is still weak with the sole exception of Built-in Electrolux’s turnover increased 7% in the second quarter, from SEK 32.6 billion to SEK 33.8 billion (EUR 2.91 billion), “driven by higher volumes in all business areas”, the company said in a statement.
The Swedish group revises its operating profit: 0.42 billion crowns (36 million euros) corresponding to a margin of 1.2% which becomes 0.52 excluding non-recurring items. What happened? On the one hand, the cost measures are starting to be felt and have contributed 300 million crowns, on the other hand, the loss of the activities in North America has significantly reduced. Latin America has developed strongly but in Europe the market is still weak with the sole exception of Built-in .all is well? Not quite: CEO Jonas Samuelson warns that the group has “ revised the outlook for market demand in Europe, Asia-Pacific for the full year 2024 from neutral to negative we expect a negative price trend for the full year 2024, with a negative impact also on the second half. Increasing investments in marketing to capitalize on the momentum of our attractive product offering are producing good returns and, as in the second quarter, we plan to increase investments in innovation and marketing in the second half of 2024. ”
Workers at Glen Dimplex’s Louth plant vote to accept voluntary redundanc
Job losses come as the Irish-owned electrical goods firm plans to merge its Dunleer plant with a facility in China
Electrolux Group divests South African water heater business
Electrolux Group has signed an agreement to divest its water heater business in South Africa under the Kwikot brand for an enterprise value of ZAR 2.4bn (approx. SEK 1.4bn) to Haier Smart Home.
The divestment includes the Kwikot brand and the production facilities for water heaters (geysers) located in Johannesburg, and is part of the previously communicated work to sharpen the Group’s strategic focus by divesting non-core assets.
The sale is expected to be completed during the fourth quarter of 2024 and is subject to regulatory approvals.
Hisense presents its global strategy
Hisense’s overseas revenue has more than quadrupled from $3.5 billion to $12 billion since 2016, Chairman Fisher Yu said
Hisense unveiled its ambitious growth plans at the Partner Conference in Berlin, held on the eve of the Euro 2024™ finals. Fisher Yu, President of Hisense Group , gave a keynote address titled “Beyond Champion, Beyond Glory” to discuss the latest updates on Hisense’s brand enhancement strategy, new product lineup, and user-centric services. Fisher Yu also discussed future plans for optimizing its industrial structure and the brand’s commitment to continued global expansion during his presentation his keynote address, Yu emphasized Hisense’s commitment to developing new features and products based on customer feedback to ensure continued growth in the global market. The company is also working to create smart home experiences with appliances that go beyond individual products and features by more comprehensively considering user use cases through product planning, R&D, and marketing, as well as focusing on platform compatibility and integration options, connectivity, security, and AI, to create smarter products that anticipate and exceed user needs.Committed to global expansion, Hisense is strengthening six local operation centers to support future growth. Building on its existing strong network of 26 R&D centers, 34 industrial parks and manufacturing bases, Hisense’s “Think Global, Act Local” approach leverages local talent and strengthens local R&D, manufacturing and supply chains. This enables Hisense to meet specific local needs with tailored products through global R&D investments.
New appointments at BSH
From 1 September 2024 Enrico Hoffmann will be Head of Sales & Marketing Central Europe of BSH, while Christof Jaeger will become the new CEO of BSH Italy After three years, Enrico Hoffmann concludes his mandate at BSH Italy, during which he has successfully strengthened the subsidiary’s business, focusing on sustainable development for the company and for its people, making his skills and his strong focus on the Customer and the end Consumer available. From September 1, 2024, Hoffmann will take up the role of Head of Sales&Marketing Central Europe with responsibility for the countries Germany, Austria, Switzerland and Hungary.
LG Establishes New Air Solution R&D Lab in Europe,
LG Electronics (LG) is establishing a new Air Solution Research and Development (R&D) Lab in Frankfurt, Germany. The state-of-the-art facility will join existing LG Air Solution Labs in Changwon, South Korea; and Atlanta, Georgia, USA, to form a global R&D triangle.
The new 10,000-square-foot lab will focus primarily on developing high-efficiency heating, ventilation and air conditioning (HVAC) solutions for Europe’s varied local climates. Research and testing will be carried out on a wide range of residential and light commercial HVAC systems, including heat pumps, energy monitoring systems and energy management platforms. Through executing an extensive, locally-focused R&D program, the Frankfurt lab will reinforce LG’s ability to provide HVAC solutions tailored for the European market.
Additionally, the new lab will collaborate with the company’s recently launched European Consortium for Advanced Heat Pump Research to develop heat pumps that can reliably deliver top-tier heating performance during Northern Europe’s harsh winters. To strengthen the capabilities of its European HVAC business, LG plans to nurture and actively recruit local talent in fields such as heat pump design and smart home technology.
Falmec: new partnership China
Falmec has kicked off a new partnership in the Chinese market with the opening of a flagship store located at the Macalline Shopping Center in Beijing. In this recently built mall, the Italian company has been provided with a space by Hiseasons, the brand’s official distributor in China. Falmec displays in a showroom of almost 3,000 sqm, along with other premium brands of furniture and household appliances. Among the models on display are the hoods from the Circle.Tech collection such as the multifunctional Spazio, and the decorative Dama and Soffio. But also, Air Wall and Monolith from the Elements collection. These models are joined by Light equipped with Multi-air technology, the Zenith hood from the Silence NRS collection and T-shaped models to satisfy a customer segment with a more traditional taste.
AGA MD Retirement
Geoff Killer, Managing Director of AGA Rangemaster, is retiring after nearly 22 years of dedicated service to the company.
Currys upgrade stores
Currys has unveiled a store upgrade programme for its largest sites across the UK as part of its commitment to “make the customer shopping experience easier”.
The electricals retailer will transform 50 of its larger stores, which will see the inclusion of new categories, seasonal showcases, and a focus on “reinvigorating megastore entrance space”.
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