UK-based sportswear and fashion retailer Frasers Group has increased its stake in electricals retailer Currys.
Frasers raised its stake in the company from 10.4% to 11.1%. Financial terms of the transaction have not been disclosed.reported last week that Currys was exploring “a number of avenues” for possible partnership with Frasers.
Siemens launches its new extra-capacity fridge
Siemens launches its new extra-capacity refrigerators, designed with 45% more space than the standard. These new appliances (1.93 cm high and 70.8 cm wide) feature sturdy glass shelves, finished with blackSteel profiles, in perfect combination with the new ovens and hobs of the Siemens studioLine range. The hinges, thanks to the softClosing system, ensure the automatic closing of the refrigerator when an angle of 20° (or less) is reached. In addition, the interior lighting can be controlled and set via the Home Connect app. Finally, the No Frost technology allows for optimal air distribution by preventing the formation of frost
Tower cordless vacuum cleaner
Tower VL100 Optimum Cordless 3-in-1 vacuum cleaner has been highly commended in a shortlist for the Best Vacuum Cleaner at the T3 Awards 2023, and it’s easy to see why.
Up to 60 minutes continuous vacuuming from a single charge.
Touch sensitive LED display with 4 power modes, Eco, Medium, High, and Auto. Dust sensor technology continuously detects dust particles, automatically increasing suction power for higher dust levels.
Ultra-efficient floor head agitates dust and dirt, complete with anti-tangle technology, preventing hair build up.
Samsung’s slowdown continues
Samsung Electronics has made public its forecasts for the second quarter of 2023. The resilience of large household appliances can do nothing compared to the weakness in demand for smartphones and above all for chips.
Compared to the previous quarter, the decline is only 6% in sales and 6.4% in profits
In the April-June period, the Korean giant estimates that it had a turnover of 60 thousand billion won (42 billion euros) with a very small profit (1%) of 600 billion won. In the corresponding period of 2022, Samsung Electronics had a turnover of 77,200 billion won (54 billion euros) with a profit of 14 trillion won (almost 10 billion euros). As a result, sales fell 22% year over year and profits fell 95
Hairer investment India
Haier India has invested Rs 400 crore for the expansion of its Greater Noida plant.
The phase II expansion of the plant is scheduled to begin this month and will be completed by November 2024. The company will add 44,890 sq m to the 3,05,726 sq m plant.
Haier India can currently produce one million air-conditioners, 1.5 million washing machines, and 3 million refrigerators annually at its plants in Greater Noida and Pune.
“With enhanced manufacturing capabilities and increased backward integration, we are confident in our ability to deliver exceptional products
the phase one expansion of the Greater Noida plant, the company had invested Rs 1,600 crore to create a manufacturing unit for air-conditioners, washing machines, and refrigerators.
Haier India also targets Rs 10,000 crore turnover by the end of 2024. BusinessLine had earlier reported that the targeted turnover is in line with the expected revenue growth of 40 per cent and 30 per cent in 2023 and 2024, respectively.
Falmec quantum pro
A new version with improved controls and cooking technology: Falmec presents Quantum Pro , an evolution of the original Quantum model, the integrated cooking system inspired by the unique and indivisible concept of quantum particles.
Quantum Pro is characterized by a new touch slider with display and stands out for its high performance and new functions which include automatic pan recognition , the cooking timer for each zone and the Keep Warm function and retains the elegant and minimal aesthetics of the classic version, enhancing it even more thanks to a precious “all black” serigraphy , in line with the latest trends in kitchen design
AGA ERS
AGA cooker, launched in June 2023. It is the most innovative and design cooker AGA has ever made. The AGA ERA is a combination of cast iron, induction, convection oven and glass.
Every element of ERA – including the clean lines of the glass doors and the ergonomically designed handles – has been carefully considered to create an appliance with a premium, honest, high-quality materials and great design.
ERA offers an all-in-one solution. Each function is operated with a touch screen. The stove is perfect for a wide target group and different ways of cooking.
On top is a 4-zone induction hob next to a cast iron plate. In addition to a convection oven, ERA also has two cast iron ovens
that cook with radiant heat. This offers an intuitive, friendly way of cooking, the authentic AGA way
Glen Dimplex profit increase
The main business of Glen Dimplex, the Irish-headquartered heating, cooling and appliance giant, nearly quadrupled its profits last year as the company substantially concluded a period of restructuring.
Newly filed accounts for Glen Dimplex European Holdings, which makes up about 60pc of group operations, showed the business made a profit of €42.8m in the year to September 30, 2022, up from just €11m in the previous year.
Glen Dimplex increased turnover by just 4pc in the period to €944m, with growth coming mainly from the group’s energy efficient heating and ventilation products, which are in high demand in the EU because of public policy initiatives.
“Encouragingly, the strong profit growth experienced in the 2021/22 financial year has continued into the early part of the 2022/23 financial year and the outlook remains positive driven by strong underlying demand trends, a supportive policy environment and fiscal supports for end users,” the accounts stated.The company, which is owned by the Louth-based Naughton family, has been undergoing a transformation in recent years to focus more on sustainability and the electrification of energy, increasingly via smart tech.The firm sold the well-known consumer appliance business Morphy Richards to long-term Chinese manufacturing partner Xinbao for €185m. Glen Dimplex retained the rights to distribute the brand in Ireland, New Zealand and Australia for 10 years as part of the deal.The shift has seen Glen Dimplex become very busy in terms of mergers, acquisitions and disposals, with the company an active buyer of heating and ventilation businesses
Tower Eco Saver air fryer
The NEW Tower Eco Saver air fryer range features space saving designs, taking up 20% less kitchen space than alternatives, ideal for small countertops or tight cupboards.
Eco Saver air fryers also include Tower exclusive Vortx technology, saving consumers up to 70% on their energy bills by rapidly circulating hot air around food, cooking 30% faster than traditional methods. In-built Vizion viewing windows allow effortless food monitoring.
There’s a space-saving benefit for customers shipping the air fryers in transport containers, which lowers wider environmental impacts and costs.
Currys & Frasers
Currys boss Alex Baldock has warned price increases are set to continue as the electricals retailer looks to safeguard its profit margin.Discussions about a possible tie-up with shareholder Frasers, which widened its stake in the business to 10.4% last week.“This is a potentially interesting partnership,” he said, “There are a number of avenues that we’re exploring.”
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