Olaf Bartsch has announced that he will be stepping down as Executive Director Finance & Administration of the Miele Group in the first half of 2025. His role will be assigned to Stefan Koss, most recently CEO and President North America at BSH. Born in 1971 in Langenhagen near Hanover, he began his professional career in 1999 as a trainee and subsequently in Controlling at BSH. This was followed from 2002 by a series of management positions in the Finance/Controlling department at BSH or at the corporate headquarters of Robert Bosch GmbH. Prior to his current position, Stefan Koss was Vice President Corporate Controlling at Robert Bosch.
MIDEA AMERICA EXPANDS U.S. RESEARCH AND DEVELOPMENT CENTER
Midea America, a leading innovator of home appliances, is proud to announce the expansion of its U.S. research and development facility at Blankenbaker Station in Louisville, Kentucky. The expansion project will increase Midea’s footprint in Louisville by approximately 400%.
“We are thrilled to expand our presence and our U.S. R&D capabilities in Louisville,” said John Herrington, president of Midea America Corp. “This new facility emphasizes our commitment to growth and innovation in the United States. With the additional space, we will continue to bring innovative products to market that meet our consumers’ needs. We look forward to further investing in this community and creating new job opportunities
LG profit jump
LG Electronics Inc. (LG) reported revenue of 21.69 trillion won (14.4 billion euros) in the second quarter of 2024, up 8.5% from the second quarter of 2023. Operating profit jumped 61% to 1.2 trillion won (0.8 billion euros)
These figures mark a new record in the company’s history as they are the highest revenue and operating profit ever recorded in the second quarter.
Leading the performance were the home appliances and vehicle components sectors, which achieved their highest quarterly revenues to date.Subscription business, which bundles products and services, is also growing. After its success in Korea, LG is expanding this model internationally. Last year, subscription revenue exceeded KRW 1 trillion, and this year growth is accelerating. As of June, 36.2 percent of major home appliances sold at LG Brand Shops in Korea were subscription-based. This business model will now be introduced to global markets. For example, LG has launched LG Rent-Up in Malaysia, offering subscriptions for nine products, including washing machines, dryers and refrigerators
Ninja SLUSHi
The new Ninja SLUSHi™ Professional Frozen Drink Maker. Now, everyone can enjoy their favorite slushies without leaving home thanks to our advanced RapidChill technology, bringing commercial-grade frozen beverages right to your kitchen.
Over 16 months, the Ninja team worked to create an at-home slushie maker that rivals commercial machines found in resorts, restaurants, movie theaters, and convenience stores. This effort led to a core engineering team becoming experts in AC refrigeration, evolving the prototype through eight transformative builds to develop the Ninja SLUSHi
Miele Stiftung Warentest
For the sixth time in a row, a Miele dishwasher has achieved first place in the Stiftung Warentest. The G 7205 SCi XXL secured the top score of 2.2 in the test. The device is particularly impressive in the economy program (Eco), as well as in handling and noise, with top marks in each case. Thanks to a height of 84 to 86 centimeters, the XXL model can also easily accommodate large plates or long-stemmed drinking glasses
Beko achieves 44th place on TIME’s list of the world’s most sustainable
Beko has been recognized for its commitment to sustainability, securing the 44th spot on TIME Magazine and Statista’s first-ever list of the World’s Most Sustainable Companies. This ranking highlights Beko’s dedication to eco-friendly practices and positions it as a key player in sustainable manufacturing.
Beko earned a score of 75.68 out of 100, placing fourth among all companies in the “manufacturing and industrial production” sectors. It is also noteworthy as the highest-ranking home appliance company.
Our ranking is a testament to the passionate commitment of our entire team, said Hakan Bulgurlu, CEO of Beko. At Beko, we firmly believe that a sustainable future begins at home, with each and every one of us. This recognition from TIME and Statista fuels our drive to innovate and redefine what’s possible in our industry. We are committed to developing products that not only make daily life easier but also contribute to a healthier planet for current and future generations.
Haier has launched the connected X Series 11 Washing Machine and Tumble Dryer,
The new Haier X Series 11, featuring washing machines & tumble dryers with Ultra Fresh Air and Ultra Reverse Drum technology.
Has now been launched throughout Europe
♻️ A-40% Energy Rating: X Series 11 Washing Machine is the most sustainable and efficient machine ever, saving you over 40% on energy per year.
⚡️Remarkable Energy Efficiency: Thanks to the Twin Turbo Motor, X Series 11 Tumble Dryer delivers exceptional performance using 35% less energy than a standard 9kg A++ model. Connected to your needs: The hOn App allows you to personalise your washing cycles to suit you. Constantly updated, it provides best-in-class features
Midea Italia inaugurates its new headquarters
Midea has officially inaugurated its new headquarters in Milan at the Bodio Center in the street of the same name. A further important step for the company, which had already moved its operations to Milan at the beginning of 2021.
The inauguration ceremony was attended by Midea Emea President Scott Fu , General Manager Alberto Di Luzio and the management of Midea Italia, as well as the entire staff, which has increased by more than 40% from January 2024 to today
Fnac-Darty wants to take over its Italian counterpart Unieuro to strengthen its position in Europe
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
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. ”
