Hamilton Beach, has announced a change in its business strategy i. The plan involves a shift from selling identical products to those sold in the US in China. Instead, the company plans to develop customised products adapted to the Chinese market, produce them locally and sell them in the future. A spokesperson for Hamilton Beach’s Chinese marketing department said they will use a Chinese team and suppliers to develop new products to meet the needs of local customers. Household appliances must be awarded a CCC certificate so that the products can be exported to China or manufactured locally.Although Hamilton Beach’s sales figures in China still lag behind those in America, the company is optimistic about winning Chinese customers with its new strategy. The home appliance manufacturer sees China as an important market with great potential. “The US market is the present, while China will be the future,” said a company spokesperson.
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Hamilton Beach Brands, Inc., announced results for the second quarter of 2022
Hamilton Beach Brands, Inc., today announced results for the second quarter of 2022
Revenue decreased 4.6% compared to record Q2 2021, reflecting lower sales in the Company’s consumer markets partially offset by increased sales in the global commercial market
Operating profit was $5.4 million compared to $0.9 million in Q2 2021
Demand for small kitchen appliances continues to be significantly higher than pre-pandemic levels and slightly softer than 2021
For the full year 2022, Hamilton Beach Brands continues to expect revenue to increase modestly and operating profit to increase significantly compared to 2021 Hamilton Beach Brands Holding Company operates through its wholly owned subsidiary Hamilton Beach Brands, Inc., a leading designer, marketer, and distributor of a wide range of branded small electric household and specialty housewares appliances, as well as commercial products for restaurants, fast food chains, bars, and hotels. The Company’s owned consumer brands include Hamilton Beach®, Proctor Silex®, Hamilton Beach Professional®, Weston®, TrueAir®, Brightline® and Hamilton Beach Health®. The Company’s owned commercial brands include Hamilton Beach Commercial® and Proctor Silex Commercial®. Hamilton Beach Brands licenses the brands for Wolf Gourmet® countertop appliances, CHI® premium garment care products, Clorox® air purifiers, and Brita® countertop water appliances
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