The new agreement is on a rolling four-year basis, rather than the previous fixed-term arrangement due to end in March 2023.
Russell Hobbs is a British heritage brand for which Ultimate Products has had the licence for cookware lines since 2011. The current Russell Hobbs offering spans a range of non-electrical kitchen and laundry products designed to help with chores in the kitchen and beyond.
In FY22, Ultimate Products generated unaudited revenues of £20.2 million under the Russell Hobbs trademark, representing 13.1% of its total revenue for the period. Following the group’s acquisition of Salter Brands in July 2021, Russell Hobbs is the only licence agreement which Ultimate Products operates.
Funky Air fryer
The Funky appliance company announced they are to enter the air fryer market next year launching a new 5.5L Funky Air Fryer in Q2 2023
Gaggenau multi function warming drawer
Gaggenau launch their new multi function warming drawer With an even heat distribution of up to 80 °C, the warming drawer is perfect for slow cooking. With the slow cooking program, you can prepare your food effortlessly – whether you want to enjoy a perfectly cooked roast or want to keep a prepared meal warm for as long as you like. The warming drawer is also useful for many other tasks: letting dough rise, drying herbs and fruit, defrosting frozen food, melting chocolate or preparing yoghurt yourself. In addition, the warming drawer conveniently brings plates and cups to the right temperature or offers storage space for kitchen appliances and oven accessories. The hygienic glass surface is easy to clean.
Elica, the financial results
Elica grows thanks to Nikolatesla and engines
The success of the new hob and motors compensates for the weakness of OEM demand and allows us to forecast a positive year end in terms of turnover and margins.
The success of the new hob and motors compensates for the weakness of OEM demand and allows us to forecast a positive year end in terms of turnover and margins.
Web editing by Web Editor 30 October 2022
Elica grows thanks to Nikolatesla and engines
Giulio Cocci_ Chief Executive Officer of Elica SpA
Elica spa grows despite the “significant slowdown in demand”. In the first 9 months of 2022, revenues increased by 3% to 419 million euros and the EBIT margin increased by 2.8% to 25.6 million (6% of turnover) obtained despite increases of 50 million in costs. The net result is therefore close to 16 million: this is 32% more than in the corresponding period of 2021.
The engines fly and the NikolaTesla range grows
Sales of own brands are growing (+ 6%) and the motors segment is flying (+ 22% to 95 million) driven, in particular by the heating segment and by the consolidation of EMC and CPS, now merged into EMC Fime srl, acquired on 2 July 2021, which contributed € 19 million in the first nine months of 2022.
In the cooking segment, the decline in OEM demand was offset by the growth of NikolaTesla cooker hobs which today represent around 16% of the Cooking turnover and recorded a CAGR of + 40% compared to the first nine months of 2020.
Miele Brazil
Miele celebrated their second anniversary of their 50th sales subsidiary in Brazil
Smeg opens experience store in Singapore, first in Southeast Asia
Smeg, the instantly recognisable Italian appliances brand, has opened its flagship Singapore showroom at The Heart, Marina One. This marks Smeg’s first Southeast Asia experiential showroom, featuring an extensive collection of large and small appliances.
If you’re new to this Italian brand, it’s not just a brand; it’s an aesthetic, jazzing up kitchens with their retro and colourful appliances such as fridges, kettles, toasters, mixers, ovens and even laundry machines. According to a staff member I spoke to at the showroom, the small appliances are some of the most popular choices, especially when it comes to their official e-stores on Lazada and Shopee.Later this year, Smeg will be debuting its newest range, Galileo, a new generation of combination ovens which are a thermo-fluid dynamic redesign of the heating system with professional algorithms that aim to revolutionise the home cooking experience.
For now, our favourite 11.11 sale is coming right up, and a more cost-effective way to make your kitchen look even nicer is through these small appliances!
Electrolux job losses
Swedish home appliances maker Electrolux on Friday announced that it would cut up to 4,000 jobs as part of a restructuring programme, as the group reported heavy third quarter losses. The majority of the targeted cost savings will be realised in business area North America”, AFP reported the company as saying. It added that “3,500-4,000 positions will be affected by the programme.”
The company reported heavy losses, especially in North America, owing to slowed demand. As per the estimates, inflation and high interest rates are expected to lead to further declines.
“Market demand in both Europe and North America for the full-year of 2023 is expected to further deteriorate, i.e. be negative year-over-year,” Chief Executive Jonas Samuelson said in a statement.
ENERGY SAVING WITH SMEG
With energy costs continuing to rise, we’re all looking for ways to save money, and the kitchen is a great place to start! Learn about the energy-saving features and tips offered by Smeg.https://www.smeguk.com/news/energy-saving.html
Schulthess to enter domestic washing
schulthess a leading manufacturer of premium appliances, based in Cham, Switzerland, for the launch of the full portfolio of domestic laundry machines in some specific countries around the world.
Groupe SEB sales decreased in the first nine months 2022
Groupe SEB sales decreased in the first nine months 2022
Group SEB reported its financial results for the first nine months of the year, during which sales reached 5,560 million euro, recording a fall of 0.2% (-4.3% like-for-like). «After a year in 2021 that brought our performance to record levels driven by the consumption of Small Domestic Equipment during the Covid pandemic, the Group is holding up well over the first 9 months of 2022 in an unfavorable inflationary environment» – commented Stanislas de Gramont, chief executive officer of Groupe SEB.
«Our professional activities – the CEO added – continue to grow by double digits in most geographies. Our sales are progressing in China where Supor has consolidated its leadership positions in its main categories. However, our Consumer business was penalized in France and Germany by specific issues to these two markets, as well as by the effects of the war in Ukraine. This leads us to revise downwards our sales and margin guidance for 2022 whilst intensifying the cost reduction program implemented in the third quarter
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