A joint venture signed by Electrolux and Midea Groups, will introduce the premium AEG brand to the Chinese market. The brand was officially launched at the Appliance & Electronics World Expo in Shanghai on March 8, at an event attended by senior management of both companies and hundreds of guests, media and industry professionals. According to Electrolux, the joint venture will explore the fast-growing high-end retail market in China, as well as real estate projects. The partnership between the two brands has the aim of combining the Electrolux global brand expertise with Midea’s local market strength. The first AEG store in China will open in June, carrying a first wave of products that offer best-in-class taste, care and wellbeing experiences. Other key milestones this year include the opening of its flagship store in Guangzhou in August and a second wave of product launches in October.
«I am confident that AEG will be well received in China. – said Jonas Samuelson, CEO of Electrolux. – With a growing middle class and higher disposable incomes, we are seeing an upward trend in Chinese consumers choosing to pay a premium for quality and improved experiences. AEG, with its German heritage and top-quality offering, is perfectly poised to capture the fast-growing premium appliance opportunity in China.»
Electrolux also markets appliances in China under the Electrolux and Zanussi brands. In the intentions of the Group, the launch of AEG complements the company’s positioning in the Chinese market and supports the continued profitable growth in the country.
