Mike Ashley’s Frasers Group has made a strategic move by acquiring a £3 million stake in Marks Electrical, boosting the online white goods retailer’s shares in early Tuesday trading Earlier in the month, Marks Electrical reported a dip in half-year profits as consumers opted for less expensive products due to financial pressures, with adjusted earnings falling to £2 million for the six months ending September 30, compared to £2.3 million in the previous year.
This occurred even though revenue rose by 9.3% to £58.8 million for the half-year period
Author Archives: whitegoodsnow
Tineco number one
Tineco is proud to announce that Euromonitor International, the world’s leading independent provider of strategic market research, has recognized the company as the #1 global leader in the household wet & dry vacuum cleaner category*. With over five million units sold between July 1, 2023, and June 30, 2024, the honor reflects Tineco’s commitment to innovation and quality in the home cleaning sector.Tineco is now a globally recognized market leader in smart home appliances across the floor care, kitchen, and personal care categories, with 975 patents and 577 registered trademarks across domestic and international markets. For three consecutive years, the company has also held the title of being the #1 wet & dry vacuum brand on Amazon in the United States, Canada, France, Italy, Australia, and Japan.
APPLiA Autumn sessions
This week AMDEA is participating at the APPLiA Autumn Sessions in Brussels to discuss the challenges and opportunities for the appliance industry across UK and Europe. The first day has brought together members and national associations to review European policy and business priorities. National associations exchanged insights on national government campaigns – repair versus buying new a key feature. Briefings by the APPLiA team focused on upcoming implementation deadlines ranging from safety to environment
Beko Europe Shifts Production: A Predictable Move
Beko Europe has announced the closure of some European operations, relocating production elsewhere. This decision aligns with the Turkish manufacturer’s long-standing aggressive pricing strategy. A quick online search reveals washing machines priced as low as €270. Given that raw material costs are consistent globally, and Italy faces some of the highest energy costs in the world, it’s no surprise that Beko would choose to produce in Turkey, where labor costs are a fifth of those in Italy.
Beko’s move is a logical step in maintaining its competitive edge. The real oversight lies with those who now invoke goldenpower to keep unprofitable factories running. Political leaders should have steered the sale of Whirlpool’s assets towards companies with different market strategies. Instead, they are now attempting to rectify a situation that has been deteriorating for years.
In the Fabriano area, some are calling for drastic measures, but such actions are futile. What is truly needed are rational and forward-thinking industrial policies.
Italian household appliances supply chain is worth 1% of GDP
The report titled “The Value of the Household Appliance Supply Chain for the Competitiveness and the Sustainable and Circular Transition of the Country” highlights the significant role of the appliance industry and its components in the Italian economy. Conducted by TEHA for APPLiA Italia, the study reveals an industry that is both vibrant and strategic for the nation.
Key findings include:
– **Employment**: Over 44,000 people are employed in the core supply chain, with more than half a million in the extended supply chain.
– **Economic Impact**: The industry is deeply rooted in Italy, integrated into the European market, and features districts of excellence.
– **GDP Contribution**: In 2022, the extended household appliances supply chain accounted for 1% of Italy’s GDP, generating a turnover of 114 billion euros.
This report underscores the substantial economic and social importance of the household appliance supply chain in Italy.
Haier Australian sponsors
Haier announced today it is the official TV and Appliance partner of the Australian Open and Summer of Tennis events. The two sides marked the partnership with an announcement ceremony in Melbourne, underscoring Haier’s global commitment to sports and enhancing quality of life worldwide
ChiQ Appliance Manufacturer Added To New US Banned List
The Chinese company that produces ChiQ appliances and TVs, which are popular in Australia at retailers like Harvey Norman, Appliances Online, and The Good Guys, has been added to a new US Federal Government banned list. This follows a recent investigation into the company’s activities. Despite the ban, Australian retailers continue to sell their products.
The US Homeland Security banned the Chinese appliance and TV brand after investigations revealed that the company’s products were partially or wholly manufactured using forced or slave labor in China.
Last month, Homeland Security added Changhong Meiling Co., Ltd. (formerly known as Hefei Meiling Co., Ltd. and Hefei Meiling Group Holdings Limited) to the banned entities list again. This company is the major shareholder in Sichuan Changhong Electric, which manufactures ChiQ appliance’s
Haier best employers
Haier Smart Home has been named one of Forbes’ World’s Best Employers—for the 8th year in a row!
Unox Casa
Following the success of the preview at the Salone del Mobile – EuroCucina 2024, the new matt black finish of the high-tech oven by Unox Casa is now available on the market , combining iconic design and professional performance for elite residential use.
Padua, November 2024 – Colour is one of the greatest expressions of personal style. For this reason, Unox Casa, an Italian brand that has revolutionised the experience of life in the kitchen by introducing the concept of Starred Living, is launching the highly anticipated SuperOven – Black Edition on the market. Model 1 and Model 1S – with two and one cooking chambers respectively – have redefined the canons of high-end residential design, bringing starred restaurant performance to domestic kitchens. The new finish, the result of advanced and meticulous creative research, is designed to satisfy the colour preferences of a refined clientele attentive to detail
Haier sustainability report
Haier Europe has published its 2023 Sustainability Report , highlighting significant achievements in reducing its environmental impact and improving its operational performance. The report highlights the company’s strategic investments in renewable energy, waste reduction and new innovations for sustainable production in its factories around the world, marking an important step in its commitment to environmental sustainability.
In 2023, Haier Europe achieved a 96% waste recovery rate and expanded its renewable energy capacity, with major solar installations, including a 5.25 MWp plant in Turkey and a 3.3 MW system in China. The company recently obtained the International Renewable Energy Certificate (I-REC) , certifying that 100% of the electricity used in manufacturing and administrative operations in Turkey in 2024 comes from renewable sources. These results support the company’s goal of covering 60% of energy needs with renewable sources in all factories by 2025 , in line with the Science Based Targets (SBTi) initiative.
WHITEGOODSNOW 