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Arçelik Named as One of the Real Leaders Top 150 Impact Companies of 2021

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Arçelik, parent company to 12 leading home appliance brands including Beko and Grundig, with a footprint in almost 150 countries worldwide has been ranked 13th on The Real Leaders®️ Top 150 Impact Companies of 2021.

Arçelik Named as one of The Real Leaders Top 150 Impact Companies of 2021

The Real Leaders 150 Top Impact Companies Award recognises organisations that are making a positive social or environmental impact. The key is to seek those companies which can make the world a better place. Adopting sustainability as a business model with its “Respecting the World, Respected Worldwide” vision enable Arçelik to be listed among 150 companies.

Within the framework of its sustainability approach that complies with the UN Sustainable Development Goals (SDGs), Arçelik focuses on the future, the planet, and the needs of people and its business. The company believes that steps need to be taken to go beyond the current habits and behaviour models, the way people think now, and everything that is thought to be impossible today.

Arçelik CEO Hakan Bulgurlu said, “We are honoured to receive this award and be recognised for our mission to create a positive impact by designing technologies that improve the future. We are named the “Industry Leader” in the Household Durables category for the 2nd year in a row in Dow Jones Sustainability Index 2020 and became carbon-neutral in global production in 2019 and 2020 with our carbon credits. Our 2030 greenhouse gas emissions reduction targets are approved by the Science Based Targets Initiative (SBTi) as in line with the Paris Agreement’s goal. Being among the low-carbon transition corporate leaders, we’re proving our commitment to building a sustainable future by letting the science dictate our course of action. We will continue to contribute to the protection of our planet and encourage others to live a more sustainable lifestyle.”

A complete list of the “150 Top Impact Companies” can be found here. 

About Arçelik

With 32,000 employees throughout the world, 12 brands (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko), sales and marketing offices in 34 countries, and 22 production facilities in 8 countries, Arçelik offers products and services in more than 145 countries. As Europe’s second largest white goods company by market share (based on volumes), Arçelik reached a consolidated turnover of 5 billion Euros in 2019. With almost 70% of its revenues coming from international markets, Arçelik is the R&D leader in Turkey – holding more than 3,000 international patent applications to date with the efforts of 1,600 researchers in 15 R&D and Design Centers in Turkey and R&D Offices across five countries. Arçelik is named the “Industry Leader” in Durable Home Appliances category for the 2nd year in a row in Dow Jones Sustainability Index 2020 and in accordance with PAS 2060 Carbon Neutrality Standard, became carbon-neutral in global production plants in 2019 and 2020 fiscal years with its own carbon credits.

Samsung’s Bespoke home appliance shipments passes 1 million units

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Samsung Electronics announced on Wednesday that global shipments of its lifestyle home appliance brand Bespoke exceeded 1 million units as of the end of the year, an achievement in 20 months since the company launched its first Bespoke refrigerator model in June 2019.

Refrigerators topped the list of Bespoke home appliance sales, accounting for 75% of its customizable home appliances. Bespoke refrigerators accounted for 67% of refrigerators sold in Korea last year. It was well-received in Europe, China and Central Asia and will launch in North America this year. The refrigerator is best known for its customized module where customers can choose among 27 door panels according to their taste and preference.

Bespoke dishwashers, which debuted in June last year, was also hugely popular and grew in sales. Samsung Electronics is applying the Bespoke concept to its home appliance selection which includes electric stoves, induction cooktops, commercial air conditioners and air purifiers. Samsung Electronics included Bespoke home appliance models in its “Samsung Electronics Sales Festa” promotion held for this month in celebration of the 1 million unit milestone.

Homebase to partner with premium appliance manufacturer Miele

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 Homebase continues to strengthen its range of kitchen appliances as it announces a new partnership with Miele.

Miele ovens, hobs, extraction, refrigeration, dishwashers and laundry products will be available for customers to purchase online and in showrooms from 15 December 2020. The Miele range of appliances will be on display in 15 stores around the country, 

Hitachi transfers Thai compressor business to Midea

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Hitachi has concluded an agreement to transfer all outstanding shares in its subsidiary Hitachi Compressor (Thailand) to Midea Electric Trading (Singapore), a subsidiary of China’s Midea Group.

Hitachi Compressor (Thailand) currently supplies its compressors to Midea, one off the world’s largest refrigerator manufacturers. 

Hitachi Compressor (Thailand) sees the deal strengthening its competitiveness by improving its procurement capabilities and expanding its supply chain. In addition, the Midea Group will utilise Hitachi Compressor (Thailand) as an important production base in the ASEAN region for future business expansion

Japanese Maker of $230 Toaster Sees Its Shares Pop Up in Debut

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Japanese Maker of $230 Toaster Sees Its Shares Pop Up in Debut

A Balmuda toaster.

Boutique Japanese appliance maker Balmuda set out to make the perfect slice of toast, using the right combination of temperature, moisture and cooking time. Now, it looks like the company will have to bring as much care and attention to its stock price.

The company behind the $230 toaster which is now being sold outside of Japan and South Korea, saw its shares double on their first day of trading on Wednesday. The stock was set to rise by its limit Thursday, potentially giving Balmuda a market value of 35.2 billion yen ($340 million). It’s a heady debut for founder Gen Terao, a high-school dropout who owns three-quarters of the company.

Since the toaster’s debut in 2015, Balmuda has expanded into a range of appliances that include a rice cooker, room fan and vacuum cleaner. Like its products, the company’s shares are on track to be expensive. They’re currently worth about 40 times last year’s earnings, a valuation more than double that of Panasonic Corp., the mainstay of Japanese appliance makers.null

“Balmuda, like its products, is easy to understand,” said Kazuo Kishi, an analyst at Ace Securities and the only one who has issued a report on the company. Although Kishi hasn’t yet rated the stock or set a price target, he expects Balmuda’s shares to climb higher this week as retail investors flock to the stock.

Balmuda, based in Tokyo’s suburbs, was the first to seek to transform the humble toaster into a high-tech, and high priced, gadget. Then last year Mitsubishi’s took on the toaster challenge and introduced the Bread Oven, a $270 gadget that makes a single slice of toast at a time. Mitsubishi’s toaster seals bread inside a metal box and transfers heat using two plates at temperatures as high as 260 degrees Celsius (500 degrees Fahrenheit).

Both have their merits. The Balmuda can take a stale rubbery croissant and turn it into a flaky delight. The Bread Oven makes exquisite French toast.

Balmuda is among several companies listing on Tokyo Stock Exchange’s Mothers market in the remaining months of 2020. The toaster maker’s shares remained untraded early on Thursday, as the number of bidders outweighed sellers.

The company will use part of the 2.5 billion yen in proceeds from the initial public offering to boost marketing by 35%, including in the U.S., and spend 600 million yen on developing new products over the next two years. While Balmuda designs and markets its appliances, production is outsourced to domestic and overseas manufacturers.

Arcelik AS signed a deal to buy 60% of Hitachi Global Life Solutions

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Turkey’s leading household appliances maker Arcelik AS signed a deal to buy 60% of Hitachi Global Life Solutions Inc.’s for $300 million to deliver on its strategy to expand in emerging markets.

Arcelik and Hitachi GLS will form a new company that Arcelik will control to run operations in the home appliances market, excluding Japan, the Turkish company said in a filing to the stock exchange on Wednesday. The total transaction value is calculated on a cash-free and debt-free basis for the business,

Arcelik’s shares rose as much as 1% at the start of trading in Istanbul but were down 0.4% at 31.20 liras as of 10:04 a.m. Bloomberg reported on Friday that Arcelik was in talks to buy Hitachi’s oversees home appliance business.

The transaction includes two subsidiaries of Hitachi GLS with manufacturing facilities in Thailand and China, and 10 sales companies in the region that mainly sell refrigerators, washing machines, vacuum cleaners, rice cooker, water pumps and air conditioners. The annual production capacity of Thai and Chinese manufacturing firms is 3 million units of refrigerators and washing machines in total, according to the filing.

The consolidated net revenue of the acquired business, excluding Japan, was around $1 billion. Its earnings before interest, taxes, depreciation and amortization, or Ebitda, was about $70 million for the fiscal year ending on March 31. After the transfer, the product range is expected to be expanded with dryers, dishwashers, ovens and other small household appliances.wth Push

Arcelik sells products under 12 brands including Beko, Flavel, Grundig and Altus, according to its website. It’s expanded through acquisitions over the years, purchasing companies including South Africa’s Defy Appliances Pty Ltd. and Pakistan’s Dawlance Group.

The Turkish company has singled out the Asia Pacific region as a key growth market and last year agreed to buy control of the company that operates the Singer brand in Bangladesh.

“Asia Pacific will be the accelerator of the growth in our sector in the next 10 years with its increasing medium-class population, household revenues and improving retail channels and life style,” Arcelik’s chief executive officer, Hakan Bulgurlu, said in an emailed statement.

Arcelik AS in Turkey is in advanced talks with Japanese industrial conglomerate Hitachi Ltd. to take over overseas household equipment business

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Arcelik AS in Turkey is in advanced talks with Japanese industrial conglomerate Hitachi Ltd. to take over overseas household equipment business, people with knowledge said.

An agreement is likely to be reached within the next few weeks, the people said, asking not to be identified because the information is private. According to the people, the transaction can be valued at about $ 500 million, according to the people.

The potential deal would contribute to the $ 83 billion in sales announced by Japanese companies this year, 38% higher than a year earlier, according to data compiled by Bloomberg. Hitachi has requested separate offers for its listed metal unit because it wants to streamline its business, Bloomberg News reported. It also left a UK nuclear project in September

Hibberd Distribution Ltd (HDL), has seen its highest sales.

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Hibberd Distribution Ltd (HDL), has seen its highest sales on record during October, with November continuing the trend as the busiest month of the year.

To keep up with demand HDL, which operates from a 15,000 sq ft headquarters at Blackpool Airport Enterprise Zone, has taken a further 32,000 sq ft warehouse at Squires Gate Industrial Estate and has employed a further six staff in the past two months at the Blackpool depot.

Now in its 21st year, the company distributes and imports kitchens and appliances such as Bosch, Hotpoint, Neff, Electrolux and Zanussi to the trade, house builders and direct to the public through its online shop, and has an additional 22,000 sq ft distribution unit in Middlesbrough, employing a total of 72 staff.

Miele opens seventh showroom in Romania

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German-based manufacturer of high-end household appliances Miele said on Friday it opened its seventh showroom in Romania following a 150,000 euro investment ($181,733).

Located in the centre of capital Bucharest, the showroom has an area of ​​80 sq m, Miele said in a press release.

“Calea Victoriei is traditionally an exclusive commercial destination, so the new Miele showroom naturally comes to enrich this offer of premium products,” Miele Romania general manager Loredana Butnaru said.

Miele now operates three showrooms located in Bucharest and one each in Constanta, Timisoara, Oradea and Iasi.

In addition, over 70 stores specializing in furniture and independent electro-IT networks are selling Miele’s household appliances across Romania.

Miele is a German manufacturer of high-end domestic appliances and commercial equipment, which employs 20,200 in Austria, Germany, Romania, Czech Republic and China.

DeLonghi ha acquire Capital Brands Nutribullet and Magic Bullet brands.

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DeLonghi has reached a definitive agreement with affiliates of Centre Lane Partners to acquire Capital Brands Holdings, Inc., a leader in the personal blenders segment with the Nutribullet and Magic Bullet brands.

The price payable by DeLonghi for Capital Brands is approximately $420 million. The closing of the transaction is expected to take place before the end of 2020.

With its research and development centers in Boston and in Connecticut, Capital Brands brings innovative technologies to the development of products that cater to an evolved concept of nutrition, the company said. Centre Lane Partners acquired Capital Brands in 2018. Nutribullet and Magic Bullet are highly recognizable brands that have earned a strong reputation among consumers. Capital Brands’ strengths and expertise will contribute to accelerate DeLonghi Group’s growth in the world of healthy foods, the company added.

Massimo Garavaglia, CEO of DeLonghi, said, “This acquisition is a perfect fit for the DeLonghi Group and is consistent with our objectives of geographical expansion and growth by external lines. Moreover, it represents a strategic value from several viewpoints: we add a young and dynamic brand to our portfolio; we enlarge our range of iconic products with an important presence in the blender segment; we increase our penetration in an expanding and strategically important market like the USA; and last, but not least, we strengthen the DeLonghi Group’s leadership in the sector of food preparation.”

DeLonghi Group owns such brands as DeLonghi, Braun, Kenwood and Ariete.

Founded in 2003 and headquartered in Los Angeles, Capital Brands develops and sells domestic appliances with a focus on wellness nutrition to households in over 100 markets worldwide under the Nutribullet and Magic Bullet brands. Capital Brands forecasts net revenues of approximately $290 million for year 2020, ahead of last year sales. With this transaction, the U.S. become the largest market for the DeLonghi Group, with aggregate turnover in excess of $500 million.

Rich Krause, CEO of Capital Brands, said, “We are very pleased to be joining the DeLonghi Group and to have the opportunity to align our strong brands with theirs. We are excited about the future growth opportunities that we will be able to exploit in the U.S. and internationally with the support of our new shareholder.”