The Turkish press have reported that Indesit, one of Europe`s largest household appliances manufacturer, will produce and launch its new brand “Hotpoint-Ariston” in Turkey before marketing it globally.
Hotpoint-Ariston is a dual brand concept created by Indesit after the acquisition of popular UK brand Hotpoint.
“Last year, Indesit reached 3.5 billion Euro of global sales and achieved 105 million Euro of net profit,” said Indesit CEO Marco Milani at a meeting in Antalya which was held to introduce the new brand.
Last year Indesit held a 15 percent share in European market, a record for the company, Milani said.
“We acquired UK market leader Hotpoint in 2002. Our brand Ariston is also a leader in Europe,” Milani added. “We are now joining these two brands.”
Milani said Indesit plans to invest 40-50 million Euro in Turkey between 2009 and 2010.
“We have plants in Russia and Poland too. We do not want to set up new plants in China, Russia or Poland,” he said. “We are here in Turkey because manufacturing and labor quality is perfect and government supports investments. Turkey is an attractive country to invest in.”
Milani said their plants in Turkey will manufacture Hotpoint-Ariston, adding that they will first launch the new brand in Turkey and than put it on global markets.
No doubt this news will feed further speculation about the doubts over any continued UK production for the Hotpoint brand.
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Best regards
Lal shewakramani
0022962661962
Email matatrust@yahoo.co.in