News
Arçelik unveils Beko Europe – marking a new dawn in the home appliances sector
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Arçelik has announced the creation of Beko Europe, a new home appliances brand following the completion of its Whirlpool transaction. This stems from the closing of Whirlpool in Europe. Arçelik’s wholly owned subsidiary, Beko B.V., and Whirlpool Corporation’s wholly owned subsidiary, Whirlpool EMEA Holdings LLC, have merged to become Beko Europe. The company has more than 20,000 employees and a production capacity of approximately 24
million home appliances per year across its 11 production sites; 75 per cent of the newly-formed company is owned by Beko B.V. and 25 per cent by Whirlpool. lu, said: “Today
living in every home in Europe. By combining our respective footprints, we achieve scale, now we must work tirelessly to ensure this serves the needs of our customers and consumers. By understanding
their changing needs, we aim to power the European household appliance industry forward to a brighter, more competitive, and eco-friendly landscape.” This transaction means that the combined revenue of Arçelik reaches approximately €11 billion (£9.4 billion) – based on 2023 results. The company’s annual production capacity will also increase, as the total number of facilities reaches 45.
Hakan Bulgurlu, CEO of Arçelik, added: “The
creation of Beko Europe and acquisition of Whirlpool’s MENA assets marks yet another pivotal milestone in growth. As one of the global leaders, with strong positions in mature and high growth markets, today we reinforce our ability to be a force for progress and change, in service of planet and people.” In addition, Marc Bitzer, Chairman and CEO of Whirlpool Corporation, commented: “This milestone begins an exciting new chapter in creating greater value for European consumers through attractive brands, sustainable manufacturing, product innovation and consumer services. “We look forward to the considerable opportunities Beko Europe will unlock for consumers in the constant pursuit of improving life at home.”
Marks Electrical announces record sales for the last quarter
The retailer also said it had left the Euronics buying group, saying this enabled it to establish closer, direct relationships with its manufacturer partners, providing it with further opportunity to drive growth and m
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Marks Electrical has reported a surge in sales in its trading update for its fourth quarter. The electricals retailer said it recorded full year
revenue of £114.3 million, up from £97.8 million in FY23, representing a growth rate of 16.9 per cent. It also increased its market share in the MDA and consumer electronics markets.
ended 31 March.
Marks Electrical CEO, Mark Smithson, said: “As explained in our January trading update, in the current trading environment consumers remain highly price- conscious, which given our
premium focus, continues to have an adverse impact on our average order value, resulting in customer order volumes growing faster than revenue. “This impact will limit our ability for margin expansion in the short-term, when taking into account “Despite this, we are very pleased with the growth in our order volumes and new customer acquisitions during the period and the strong growth we have
share gains and excellent customer service will help us in delivering further growth.” In January, Marks announced it lowered its full year
growth in market share. In the three months to 31 December, the retailer saw revenue growth of 17.8 per cent to £35.1 million. However, the company said
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