It was a good start to the year for Chinese brand Haier Smart Home which has seen strong revenue growth against current industry trends
Haier’s revenue hit RMB 243.514 billion (€32bn) in 2022 versus RMB 227.106 billion (€30.28bn) the previous year. Its net profit attributable to the owners of the parent company amounted to RMB 14.711 billion (€1.9m). Growth in profit exceeded that of revenue, Haier said.
It comes after the brand re-entered the Fortune list of World’s Most Admired companies back in February, and the appliances arm being named Euromonitor No. 1 Global Appliance Brand for the 14th year running.
Drivers for Haier’s success have been attributed to successful brand building strategies and the effective digital transformation of domestic and overseas businesses. It means the consumer electronics giant has been able to report strong growth against the sluggish trend of the home appliance industry.
Meanwhile, Haier Smart Home‘s overseas business grew by 10.3% in the reporting year despite challenges such as high inflation and slowing global consumer demand in 2022.
Haier Smart Home said it accelerated the localisation of its supply chain setup in overseas markets, and fully leveraged its global collaborative advantages to effectively respond to these challenges. The company’s overseas business increased by 10.3% year-on-year in 2022. In the American market, the company’s revenue increased by 9.0% (revenue in local currency increased by 4.6%), under the background that the industry’s major home appliance shipment growth was -6%. In the European market, the company recorded revenue growth of 16.7% while the industry’s sale volume growth was -8.9%.
At home, in the domestic market, Haier reported “continuous growth”, particularly with its premium Casarte brand, which continues to rank No.1 in China.
Finally, Three-Winged Bird, Haier Smart Home’s smart home eco-system brand, has also been a driving force for growth, the company said. “It continuously iterated the so-called “1+3+5+N” smart home solutions, enhancing user value based on its 5 core capabilities including Smart Home Brain capability, scenario solution capability, store operation capability, 1+N delivery capability, and digital tools capability.
During 2022, more than 900 stores of Three-Winged Bird were opened, and the retail sales of the Three-Winged Bird stores increased by 257% year-on-year.
With the continuous deepening of digital transformation, Haier Smart Home’s profitability continued to improve by increasing its resource efficiency and hence, creating room for new expansion in a more sustainable way
Tag Archives: Brand
Whirlpool Corporation named one of Fortune’s Most Innovative Companies for 2023
Whirlpool Corporation named one of Fortune’s Most Innovative Companies for 2023 Awards, Brand and Product, Innovation
Whirlpool Corporation’s innovative products for 2023: washer for pets with a dog in the photo, a washer with 2-in-1 agitator, a third rack dishwasher, and an oven with air fryer, announcing one of Furtune’s most innovative companies sin 2023
Whirlpool Corporation has been recognized by Fortune as one of America’s Most Innovative Companies in 2023. The inaugural list celebrates companies that have demonstrated success across three areas, including product innovation, process innovation, and innovation culture.
“A spirit of innovation is embedded in our culture and we are proud to be named one of Fortune‘s most innovative companies,” said Marc Bitzer, chairman and CEO of Whirlpool Corp. “With a diverse and growing product portfolio across several trusted U.S. brands, this recognition is a testament to our employees who work tirelessly to create innovative solutions that improve life at home for consumers.”
The best and the brightest engineers and designers, collaborating globally on shared appliance architectures, have been able to unleash innovation in its truest sense and help shape the modern home.”
For more than 111 years, Whirlpool Corp.’s innovation strategy has changed how people around the world care for their families and loved ones — from cooking and entertaining to laundry and household chores. The company is committed to sustainable manufacturing, environmental and social responsibility, leading-edge design, unparalleled craftsmanship, and leveraging emerging digital technologies.
“From the first electric wringer washer in 1911 to our current line-up of leading-edge home appliances, we are obsessed with developing technology that is purposeful in saving time or eliminating work for consumers,” said Roberto H. Campos, senior vice president of Whirlpool Corp.’s Global Product Organization. “The best and the brightest engineers and designers, collaborating globally on shared appliance architectures, have been able to unleash innovation in its truest sense and help shape the modern home.”
In the past two years, Whirlpool Corp. launched several innovative new products, including the Maytag® Pet Pro System, the Whirlpool 2 in 1 Washer with Removable Agitator, a revolutionary large capacity third rack for dishwashers, and added air fry functionality to select smart ovens via an over-the-air update. The company also announced it plans to bring Matter support to its smart appliance models and continues to find innovative solutions to accelerate its ESG strategy, most recently announcing Zero Waste to Landfill Gold or Platinum status (self-certification) at 29 of 29 large manufacturing sites worldwide.
To develop the list, Fortune partnered with Statista Inc., a leading provider of market and consumer data, to survey internal and external stakeholders who have direct exposure to company processes, products, and culture. Statista also worked with LexisNexis PatentSight and used their platform to analyze the quantity and value of a company’s patents.
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