To outperform market growth and further enhance profitability, Electrolux is implementing a number of strategic initiatives. The focus is on increasing the share of sales in growth regions and strengthening the position in the Group’s core markets. Acceleration of product innovation and reducing time to market is a key element of the strategy as well as developing more accessible and resource-efficient solutions to meet the needs of an expanding middle class in growth markets.
The global major appliance market is very fragmented and Electrolux sees the potential to increase the pace of growth by way of acquisitions. Acquisitions are an integrated part of the growth strategy. In 2015, Electrolux acquired Shanghai Veetsan Commercial Machinery, one of the largest manufacturers of professional dishwashers in China.
To strengthen its market positions, Electrolux is accelerating product innovation and reducing the time to market for products. In 2015, a number of innovative products were launched under the Frigidaire brand in North America and under the Electrolux, AEG and Zanussi brands in Europe. The Electrolux Masterpiece Collection, which comprises a range of exclusive small domestic appliances, was launched in several markets. In Australia, a new family of appliances was launched under the Westinghouse brand. Focus on sustainability is also opening opportunities for new, more efficient products. The new Electrolux NutrifFresh™ Inverter fridge offers up to 30% better energy performances than the previous range.
A significant portion of the Group’s expansion is in growth markets, such as Asia and Latin America. A key part of this expansion is through resource-efficient products. In Latin America and Asia/Pacific, new products in appliances, vacuum cleaners and small domestic appliances are being launched continuously. In 2015, growth markets accounted for 30% of Group sales.
In the Asian markets, the Group’s position in the professional segment was boosted through the acquisition of Shanghai Veetsan Commercial Machinery, one of the largest manufacturers of professional dishwashers in China.
Electrolux is continuously expanding its product offering. Products launched in 2015 included the AEG ProCombi Plus, the market’s first steam oven with an in-built camera. Electrolux myPRO washing machines and tumble dryers were launched in Europe. These appliances are specially adapted for small companies, which comprises a new market segment.
Adjacent product categories, such as air care, water heaters, accessories and small domestic appliances, have substantial growth potential. In recent years, the Group’s offerings in these product categories have increased substantially. In North America, Electrolux launched the Frigidaire Cool Connect in 2015. This is the Group’s first connected air conditioner, which can be programmed through an app on a smartphone or tablet.
| Kitchen 62% | 62 |
| Professional kitchen 3% | 3 |
| Laundry 16% | 16 |
| Professional laundry 2% | 2 |
| Small appliances 7% | 7 |
| Adjacent product categories 10% | 10 |
| Cold (refrigerators, freezers) 48% | 48 |
| Hot (cookers, hobs, ovens) 38% | 38 |
| Dish 9% | 9 |
| Professional food-service equipment 5% | 5 |
In 2015, a new family of appliances was launched in Australia under the Westinghouse brand. Electrolux myPRO washing machines and tumble dryers, specially adapted for small companies, were launched in Europe. This is a new segment in the market for Electrolux. The Electrolux Masterpiece Collection, which comprises a range of exclusive small domestic appliances, was launched in several markets.
