Shaker and LG Expand Long-Term PartnershikAl Hassan Ghazi Ibrahim Shaker Co. (“Shaker”, the “Group” or the “Company”), Saudi Arabia’s leading importer, manufacturer, and distributor of Air Conditioners and Home Appliances, has expanded its long-term strategic partnership with LG Electronics (“LG”) through a new supply agreement that will include home appliance and home entertainment products – namely televisions, refrigerators, washing machines, dryers, dishwashers, microwave ovens and more – for the Saudi market
Category Archives: Financial
Currys Half Year Results 2022/23
Currys slashes profit outlook as ‘hard-pressed’ customers cut back
Shares in the technology retailer were down more than 7% on Thursday after it said it has had a tough time over the past six months. fall in sales within its UK and Ireland division, on the other hand, was offset by cost-cutting and higher gross marginsCurrys said it now expected full year profit before tax to be between £100m-£125m – down from the previously guided £130m-£150m range.
SEVERIN TAKES THE NEXT STEPS IN THE REALIGNMENT OF THE BRAND COMPANY
Important milestones reached in the development and expansion of the brand business in Europe.
Ulrich Cramer, CFO for many years, is leaving the company at his own request.
CEO dr Joyce Gesing drives realignment with strong leadership team.
In 2022, SEVERIN once again reached important milestones in the transformation process. The product portfolio was streamlined and realigned. Several high-end products and innovations have been successfully brought to market, with a high level of acceptance among end consumers and trading partners. The e-commerce business was successfully expanded across Europe in a difficult year. In addition, cooperation with specialist retailers in the electronics, grilling and hardware stores sectors was intensified. Important investments were made at the company’s headquarters in Sundern, Sauerland, as well as in processes and IT systems. All of this forms the basis for the international expansion of the manufacturer of electrical household appliances over the next few years.SEVERIN is a leading international manufacturer of intuitive, innovative and sustainable electrical household appliances. As a German quality brand with a 130-year history, SEVERIN stands for reliable and durable products that make everyday life easier for customers. With its headquarters in Sundern (Germany), six of its own sales companies in Europe and a long-standing presence in Asia, SEVERIN is globally active and supplies customers all over the world.
Galanz enters partnership with Kenmore appliances
Galanz Americas LimitGlobal leader in home appliances, Galanz Americas, announced that it has entered into a partnership with iconic home appliance brand, Kenmore.
The current product portfolio will feature a range of affordable innovative kitchen appliances including a healthy mix of compact refrigeration, wine and beverage coolers and various countertop and over the range microwave offerings. Combining brand ethos from both Galanz and Kenmore, all products have been thoughtfully engineered to fit perfectly into the lives of consumers both in form and function, designed to enhance the lives of all who use them.
“For over 100 years, Kenmore has been in millions of American homes impacting everyday lives with innovative appliances,” said Sri Solur, CEO of Kenmore. “This partnership is an example of our commitment to expanding our portfolio to reach as many Americans as possible.”
The Kenmore products will cover high-demand kitchen appliance categories at an attainable value with the option to expand the current portfolio into other categories. They will be available both online and in store with national retailers early 2023.
“Kenmore is a mainstay brand with an incredible performance reputation in the home appliance industry with over 100 years of trust built with customers” said Richard Demert, Senior Director of Product Development and Quality, Galanz Americas. “We’re excited to combine Kenmore’s unmatched brand recognition with Galanz’ commitment to thoughtfully engineered, design-driven appliances to present a unique and exciting product offering to the market.”
Collectively, Galanz and Kenmore believe appliances should work hard and improve the lives of consumers. Each product in this new appliance portfolio was carefully designed to offer innovative features that not only make the day to day easier to navigate but look good while doing so.
Christian Maeder leaves the Artemis Group
christian maeder, chief financial officer cfo of the artemis group and chairman of the board of directors of franke holding ag, will leave the artemis group in spring 2023. the company announced that search for his successor has been initiated. the chairmanship of the board of directors of franke holding ag will be taken over by alexander pieper, currently vice chairman, as of spring 2023.
Dyson investment plan
Dyson reveals the next phase of its five-year, £2.75bn investment plan to develop machines that use software and connectivity to improve themselves. This has been explained by Jake Dyson, the company’s chief engineer, who shows in a YouTube video an update of Dyson’s five-year investment plan that includes products that improve themselves thanks to software and “data science”, allowing solve problems in the machines before the owner is aware of them.
In line with Dyson’s announcement of investment in robotics at the beginning of the year, this new commitment to hire software developers and data scientists reinforces the company’s commitment to its software & connectivity team, which has multiplied by 10 in a decade. .
Led by Jake Dyson, these professionals are working on a new generation of smart products 10-15 years from now.
Hardware, software and connectivity play a key role as Dyson increasingly embeds intelligence into its machines, the MyDyson app and user experience, looking to create self-improving products for the long term. https://youtu.be/Uni7TfoC5e0
Electrolux redundancies
Electrolux announces redundancies: there will be 76 in Porcia and 25 in Susegana. Not renewed 300 expiring workers
The union: only voluntary and incentivized exits. In Italy the total number is 222 cuts. Redundancy fund risk in 2023
There are 222 redundancies announced by Electrolux for Italy during a meeting with the trade unions. The most substantial personnel cuts will be absorbed by the Porcia plants which will see the exit of 40 employees and 36 workers (10 of whom in the spare parts warehouse), and Forlì which will instead see a cut of 19 employees and 77 workers. Redundancies for 25 employees in Susegana while the cuts will affect 10 employees in Solaro in the province of Milan. The site is also the protagonist of an investment process which in the next few years will see the company spending around 102 million euros to modernize the production lines. In Cerreto there will be 5 outgoing employees while in Assago there will be two redundancies.
The operation aims to be concluded within the first quarter of 2023 and provides for the use of the incentived Naspi instrument. The negotiation will continue in the individual plants.
ASKO LAUNCHES INTEGRATED MARKETING CAMPAIGN IN AUSTRALIA
Creative marketing strategy for premium Swedish home appliance brand ASKO, conceived by Trout Creative Thinking gives the globally established brand a local flavour. The strategy harnesses the power of brand endorsement through talent and media partnerships to create captivating content that draws the attention of Australian renovators, architects, and designers. The content campaigns aimed to increase awareness of the ASKO brand in Australia while showcasing key product launches for the brand including the Wine Climate Cabinet, the world’s first smart wine cabinet which was recently awarded Gold in the Australian Good Design Award.
While ASKO has been in Australia for 52 years, the brand partnered with Trout to design and implement a combination of strategic talent and media partnerships unlike anything ASKO has delivered in one of its largest global markets to date. The result is a campaign that strikes a unique balance of aligning to the ASKO brand globally yet making it relevant to the Australian market.
Beko to target Thailand
Beko is planning aggressive moves in 2022-23, with the goal of increasing brand awareness and achieving sales of 2 billion baht by next year
Beko Thai’s commercial director, Pornchai Trakultechadej, said in an interview the decision was made after the company discovered that less than one in 10 Thai people can still pronounce the proper name of Beko, despite the brand being in the country for seven years.
Some people recognised the brand, but not enough to switch to Beko, he noted.
He revealed that the company plans to double its marketing investment in the Thai market next year, with 85% of the budget, or approximately 200 million baht, going towards digital campaigns focusing on home appliances such as refrigerators, washing machines and dryers, and air-conditioners.
Acquisition Of Asogem By Arçelik
Dutch competition authority, Authority for Consumers & Markets (ACM) has cleared the acquisition of Asogem N.V. by Arçelik A.S. through its subsidiary Ardutch B.V.
Asogem, which will be acquire by Arçelik, is a distributor of large and small home appliances in the Netherlands and the only importer and distributor of Arçelik’s Beko and Grundig brands in Benelux. Asogem also imports electrically heated blankets of the “Dreamland” brand as the sole distributor of Italian Tenacta Srl. Asogem only supplies products to retailers and does not sell directly to end consumers
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