Chinese home appliance retailer Suning Appliance Co. have linked strategic cooperative agreements with Whirlpool.
The two parties plan to seek accumulative sales of CNY 20 billion within five years, including CNY 5.3 billion from Whirlpool washing machines, CNY 4.75 billion from refrigerators, CNY 8.3 billion from air conditioners, CNY 1.2 billion from water heaters, as well as CNY 450 million from others.
As a world-leading home appliance manufacturer, Whirlpool’s product portfolio includes washing machines, refrigerators, water heaters, microwave ovens, dishwashers, and so on.
Although the company has operated in the Chinese market for 15 years it mainly brought its washing machines into the country before 2008.
Whirlpool launched air conditioners into the Chinese market in March 2008 and selected Suning as the sole distributor.
Amid the economy recession, Whirlpool witnessed declines in its global sales and profit. However, it has gained a year-on-year 3% growth in the Asian market.