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Electrolux

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This article is about the home appliance manufacturer. For the separated professional appliance manufacturer, see Electrolux Professional.
Electrolux AB
Company typePublicly traded aktiebolag
Nasdaq Stockholm: ELUX B
ISIN
IndustryHome appliances
Founded1919; 105 years ago (1919)
HeadquartersStockholm, Sweden
Area served
Worldwide
Key people
Staffan Bohman (Chairman)
Jonas Samuelson (President & CEO)
ProductsMajor appliances and small appliances
BrandsAEG, Electrolux, Electrolux Grand Cuisine, Electrolux Professional, Frigidaire, Molteni, Westinghouse, Zanussi.
RevenueIncrease 134.880 billion kr (2022)[3]
Decrease –215 million kr (2022)[3]
Decrease –1.320 billion kr (2022)[3]
Total assetsIncrease 127.102 billion kr (2022)[3]
Total equityIncrease 16.449 billion kr (2022)[3]
OwnerInvestor AB (16.4%; 28.4% votes)[3]
Number of employees
51,000 (2022)[3]
Websitewww.electrolux.com
www.electroluxgroup.com
Logo and wordmark (1961–2015)

Electrolux AB (Swedish: [ɛˈlɛ̂kːtrʊˌlɵks, ɛlɛktrʊˈlɵks]) is a Swedish multinational home appliance manufacturer, headquartered in Stockholm.[4] It is consistently ranked the world's second largest appliance maker by units sold, after Whirlpool.[5]

Electrolux products are sold under a variety of brand names (including its own), and are primarily major appliances and vacuum cleaners intended for home consumer use.[6] Electrolux has a primary listing on the Stockholm Stock Exchange and is a constituent of the OMX Stockholm 30 index.

History

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The Autoluxlamp, a kerosene lamp manufactured by Lux and used in railway stations around the world in the early 20th century

The company originates from a merger of two companies—Lux AB and Svenska Elektron AB, the former an established manufacturer and the latter a younger company founded by a former vacuum salesman who had also been an employee of the former firm.[7] The origins of Electrolux are closely tied to the vacuum, but today it also makes major appliances.

Vacuum cleaner designed by Lurelle Guild c. 1937 Brooklyn Museum

Electrolux made an initial public offering on the London Stock Exchange in 1928 (it was delisted in 2010)[8] and another on the Stockholm Stock Exchange in 1930.[9][10]

As of 2010 its shares trade on the NASDAQ OMX Nordic Market and over-the-counter.[11] Electrolux is an OMX Nordic 40 constituent stock.

Sales company to major manufacturer

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In 1919, a Svenska Elektron AB acquisition,[7] Elektromekaniska AB, became Elektrolux[12] (the spelling was changed to Electrolux in 1957).[13] It initially sold Lux branded vacuum cleaners in several European countries.[12]

In 1923, the company acquired AB Arctic and subsequently added absorption refrigerators to its product line.[14][9] Other appliances soon followed, including washing machines in 1951,[15] dishwashers in 1959,[15] and food service equipment in 1962.[16]

Mergers and acquisitions

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The company has often and regularly expanded through mergers and acquisitions.

While Electrolux had bought several companies before the 1960s, that decade saw the beginnings of a new wave of M&A activity. The company bought ElektroHelios, Norwegian Elektra, Danish Atlas, Finnish Slev, and Flymo, et al., in the nine years from 1960 to 1969.[16] It sold its American subsidiary to Consolidated Foods and exited the American market in 1968, only returning in 1974 when Electrolux acquired Eureka-Williams from National Union, one of the oldest names in the vacuum cleaner industry. Electrolux sold its vacuum cleaners using the Eureka brand name in North America until 2004.[17]

This style of growth continued through the 1990s, seeing Electrolux purchase scores[18] of companies including, for a time, Husqvarna.[18][19]

Hans Werthén [sv], President and later chairman of the board, led the strategic core of an increasingly decentralized Electrolux—and was instrumental to its rapid growth.

While attempts to cut costs, centralise administration, and wring out economies of scale from Electrolux's operations were made in the 1960s and 1970s[16][18] with the focus so firmly on growth,[18] further company-wide restructuring efforts only began in the late 1990s.[20]

2000 to present

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In North America, the Electrolux name was long used by vacuum cleaner manufacturer Aerus LLC, originally established to sell Swedish Electrolux products. In 2000, Aerus transferred trademark rights back to the Electrolux Group, and ceased using the Electrolux name in 2004.[21]

Conversely, Electrolux-made vacuums carried the Eureka brand name, which Electrolux continued to use while also selling Electrolux branded vacuums after 2000. Electrolux USA customer service maintains a database of Electrolux made vacuums and provides a link to Aerus's website for the convenience of owners of Electrolux branded Aerus vacuums.[22]

Keith McLoughlin took over as president and CEO on January 1, 2011, and became the company's first non Swedish chief executive.

In August 2011, Electrolux acquired from Sigdo Koppers the Chilean appliance manufacturer CTI obtaining several brands with the purchase including: Fensa, Gafa, Mademsa and Somela.[23]

On February 6, 2017, Electrolux announced that it had agreed to acquire Anova Applied Electronics, Inc.,[24] the U.S.-based provider of the Anova Precision Cooker.[25][26]

On March 23, 2020, Electrolux completed the spin-off of its professional division, which the separated company incorporated as Electrolux Professional AB.[27]

In September 2023, it was announced Electrolux has sold its refrigerator manufacturing facility in Nyíregyháza to the Malmö-headquartered heat pump systems and technology company, Qvantum for €38 million.[28]

Notable products

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Electrolux Assistent, 1940

Brands

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An Electrolux canister vacuum cleaner

Electrolux sells under a wide variety of brand names worldwide. Most of them were acquired through mergers and acquisitions and only do business in a single country or geographic area. The following is an incomplete list.

Americas

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  • Anova Applied Electronics, Inc.,[24] provider of the Anova Precision Cooker[25][26]
  • Electrolux ICON, premium consumer appliance brand sold in the US[32]
  • Eureka, American consumer vacuum cleaner brand, Sold to Midea in 2016[33]
  • Fensa, Chilean consumer appliance brand, widely available in Latin America.
  • Frigidaire, major appliance manufacturer.
  • Gafa, Argentinean appliance manufacturer.
  • Gibson, refrigerator and air conditioning manufacturer[34]
  • Mademsa, Chilean home appliance brand
  • Philco, former U.S. consumer electronics and appliance manufacturer for appliances, though brand name is also used separately for electronics by Philips
  • Sanitaire, commercial product division of Eureka
  • Somela, Chilean home appliance brand, available throughout Latin America[35]
  • Tappan, former U.S. appliance manufacturer
  • Viking Range, major appliance manufacturer.
  • White-Westinghouse, former U.S. appliance manufacturer

Europe

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  • Arthur Martin
  • AEG
  • Atlas (Denmark)[36]
  • Corberó (Spain)
  • Elektro Helios, manufacturer of consumer appliances for the Swedish market[37]
  • Faure, French consumer appliance maker[38]
  • Lehel, consumer appliance brand sold in Hungary and elsewhere. Acquired in 1991, the brand has not been in use since 1999.
  • Marynen/Marijnen, consumer product brand sold in the Netherlands[39]
  • Parkinson Cowan, cooking appliances (United Kingdom)
  • Progress, vacuum cleaner brand sold throughout Europe[40]
  • REX-Electrolux, Italian appliance manufacturer[41]
  • Rosenlew, Finnish consumer product brand sold in Nordic countries[42]
  • Samus, Romanian producer of cooking stoves headquartered in Satu Mare[43]
  • Voss, premium consumer cooking appliance and equipment supplier in Denmark and elsewhere[44]
  • Zanker, consumer kitchen appliance brand sold in central Europe[45]
  • Zanussi, Italian appliance manufacturer that became part of Electrolux in 1984[46]
  • Zanussi Professional, professional kitchen equipment manufacturer[47]
  • Zoppas, consumer products brand sold in Italy[48]

Oceania

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  • Dishlex, a budget friendly dishwasher brand sold in Australia (discontinued in August 2021)[49]
  • Kelvinator, an air conditioning and fridge freezer brand sold in Australia, India and elsewhere[50]
  • Simpson, previously sold Kitchen and laundry appliances, now they only sell laundry appliances. They are a brand sold in Australia and New Zealand. (discontinued in July 2022) [51]
  • Westinghouse, a kitchen and laundry appliance brand in Australia licensed from Westinghouse Electric Corp to Electrolux Home Products Pty Ltd.[52]

Middle East

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Global/other

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  • Arthur Martin-Electrolux
  • Beam, Electrolux's central vacuum brand[53]
  • Castor
  • Chef
  • Dito, professional food processing equipment[54]
  • Electrolux Professional
  • Frigidaire, full range major appliance brand sold globally[55]
  • Juno-Electrolux, premium consumer kitchen appliance brand[56]
  • Molteni, professional stoves[57]
  • Tornado, vacuum cleaners and other consumer products[58]
  • Therma
  • Tricity Bendix
  • Volta, vacuum cleaner brand sold in Australia, Sweden and elsewhere[59]

Note: This list does not include brands such as Kenmore, IKEA and John Lewis, which may sell Electrolux produced appliances but are not owned by or affiliated with Electrolux, as Electrolux acts as an OEM for these brands.

Slogan

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The company's international slogan is "Shape living for the better". In the past it was "Thinking of you".[60]

In the 1960s the company successfully marketed vacuums in the United Kingdom with the slogan "Nothing sucks like an Electrolux".[61] In the United States, it was frequently assumed that using this slogan was a brand blunder. In fact, the informal American meaning of the word sucks was already well known at the time in the United Kingdom, and the company hoped the slogan, with its possible double entendre, would gain attention.[62]

In Indonesia, the Electrolux previous slogan was "Kalau saja semua seawet Electrolux" (English: If only all are as durable as Electrolux).[citation needed]

See also

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References

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  1. ^ "ELUX A, Electrolux A, (SE0000103806) - Nasdaq". www.nasdaqomxnordic.com.
  2. ^ "ELUX B, Electrolux B, (SE0000103814) - Nasdaq". www.nasdaqomxnordic.com.
  3. ^ a b c d e f g "Annual Report 2022" (PDF). AB Electrolux. pp. 19, 22.
  4. ^ "Electrolux Group Headquarter". Electrolux. Retrieved 8 May 2014.
  5. ^ "Major Appliances Millionaires Club - new 2010 company rankings". euromonitor.com. Euromonitor International. December 3, 2010. Archived from the original on 12 May 2014. Retrieved 9 May 2014.
  6. ^ "National consumer brands; Electrolux Group". Electrolux.com. Archived from the original on 2010-05-28. Retrieved 2010-08-31.
  7. ^ a b Gantz, Carroll (2012). The Vacuum Cleaner: A History. McFarland. ISBN 9780786465521.
  8. ^ "Electrolux delisted from the London Stock Exchange; Electrolux Group". Group.electrolux.com. Retrieved 2010-08-31.
  9. ^ a b c "History 1920-1929 | Electrolux Group". Group.electrolux.com. Retrieved 2010-08-31.
  10. ^ a b c "Growth and industrial design; Electrolux Group". Group.electrolux.com. Retrieved 2010-08-31.
  11. ^ "The Electrolux share | Electrolux Group". Group.electrolux.com. Retrieved 2010-09-02.
  12. ^ a b "Founding an international company; Electrolux Group". Group.electrolux.com. Retrieved 2010-08-31.
  13. ^ "Elektrolux becomes Electrolux; Electrolux Group". Group.electrolux.com. Retrieved 2010-08-31.[permanent dead link]
  14. ^ "Revolutionary products; Electrolux Group". Group.electrolux.com. Retrieved 2010-08-31.
  15. ^ a b c "History 1950-1959 | Electrolux Group". Group.electrolux.com. Retrieved 2010-08-31.
  16. ^ a b c "History 1960-1969 | Electrolux Group". Group.electrolux.com. Retrieved 2010-08-31.
  17. ^ "Eureka Williams Electrolux".
  18. ^ a b c d "A new president with new strategies | Electrolux Group". Group.electrolux.com. Retrieved 2010-09-05.
  19. ^ "History 1970-1979 | Electrolux Group". Group.electrolux.com. Retrieved 2010-09-05.
  20. ^ "History 1990-1999 | Electrolux Group". Group.electrolux.com. Retrieved 2010-09-05.
  21. ^ "Aerus Llc". companydatabase.org. Archived from the original on July 25, 2011. Retrieved January 8, 2011.
  22. ^ Kitchen Appliances Manufacturers Best Kitchen Brand in India
  23. ^ "Electrolux acquires Chilean appliance company CTI | Electrolux Group". Group.electrolux.com. Retrieved 2013-05-07.
  24. ^ a b "Terms and Conditions & Privacy Policy | Anova Culinary". Anova Culinary. Retrieved 2017-03-07.
  25. ^ a b "Electrolux To Acquire Fast Growing Smart Kitchen Appliance Company Anova" (PDF). ElectroluxGroup.com. Electrolux. 6 February 2017.
  26. ^ a b Svajian, Stephen (6 February 2017). "Everybody Has A Seat At The Table". AnovaCulinary.com. Anova.
  27. ^ "Nasdaq Stockholm welcomes Electrolux Professional to the Main Market". 2020-03-23. Retrieved 2021-12-05.
  28. ^ "Qvantum acquires manufacturing facility from Electrolux". evertiq.com. 2023. Retrieved 2023-09-19.
  29. ^ "Svensk Köksmaskin Hushållsassistent Köksassistent Kitchen machine Kitchen Assistant - Bäst i Test". Assistent Original. Archived from the original on 2010-07-20. Retrieved 2010-08-31.
  30. ^ "History 1940-1949 | Electrolux Group". Group.electrolux.com. Retrieved 2010-08-31.
  31. ^ "Trilobite 2.0". Trilobite.electrolux.com. Retrieved 2010-09-02.
  32. ^ "Official Electrolux ICON Site - Electrolux ICON Appliances". Electroluxicon.com. Retrieved 2010-08-31.
  33. ^ "Eureka". Brand. Electrolux Group. Archived from the original on 2010-10-12. Retrieved 2010-08-31.
  34. ^ "Gibson acquired by Hupp Corporation as of April 30, 1956". Brand, Appellate Case Law. Retrieved 2010-08-31.
  35. ^ "Somela - Exportaciones". Chile: Somela.cl. Archived from the original on 2013-05-21. Retrieved 2013-05-07.
  36. ^ Danish Wikipedia article "Atlas(virksomhed)"
  37. ^ "Elektro Helios". Brand. Electrolux Group. Archived from the original on 2010-10-12. Retrieved 2010-08-31.
  38. ^ "Faure". Brand. Electrolux Group. Archived from the original on 2010-10-13. Retrieved 2010-08-31.
  39. ^ "Marijnen". Brand. Electrolux Group. Archived from the original on 2010-10-13. Retrieved 2010-08-31.
  40. ^ "Progress". Brand. Electrolux Group. Archived from the original on 2011-05-03. Retrieved 2010-08-31.
  41. ^ "Rex Electrolux". Brand. Electrolux Group. Archived from the original on 2010-08-18. Retrieved 2010-08-31.
  42. ^ "Rosenlew". Brand. Electrolux Group. Archived from the original on 2010-10-12. Retrieved 2010-08-31.
  43. ^ David Turnock, Edward Elgar, 2009, The Transition from Communism to the European Union: Restructuring Romanian Industry and Agriculture Since 1990, p. 141
  44. ^ "Voss-Electrolux". Brand. Electrolux Group. Archived from the original on 2010-10-12. Retrieved 2010-08-31.
  45. ^ "Zanker". Brand. Electrolux Group. Archived from the original on 2010-10-12. Retrieved 2010-08-31.
  46. ^ "Electrolux / 90 Years of Innovation and Design". Singapore: Electrolux Singapore. Archived from the original on 2017-10-20. Retrieved 2010-08-31.
  47. ^ "Zanussi Professional". Brand. Electrolux Group. Archived from the original on 2010-08-05. Retrieved 2010-08-31.
  48. ^ "Zoppas". Brand. Electrolux Group. Archived from the original on 2010-08-14. Retrieved 2010-08-31.
  49. ^ "About Dishlex". dishlex.com.au. Archived from the original on 2016-10-21. Retrieved 2015-10-26.
  50. ^ "Home". Kelvinator Commercial.
  51. ^ "Simpson". Brand. Electrolux Group. Archived from the original on 2010-10-13. Retrieved 2010-08-31.
  52. ^ "About Westinghouse". www.westinghouse.com.au. Australia. Retrieved 2016-08-26.
  53. ^ "Beam". Brand. Electrolux Group. Archived from the original on 2010-10-13. Retrieved 2010-08-31.
  54. ^ "Dito-Electrolux". Brand. Electrolux Group. Archived from the original on 2010-08-27. Retrieved 2010-08-31.
  55. ^ "Frigidaire". Brand. Electrolux Group. Archived from the original on 2010-10-12. Retrieved 2010-08-31.
  56. ^ "Juno-Electrolux". Brand. Electrolux Group. Archived from the original on 2010-09-03. Retrieved 2010-08-31.
  57. ^ "Molteni". Brand. Electrolux Group. Archived from the original on 2010-08-27. Retrieved 2010-08-31.
  58. ^ "Tornado". Brand. Electrolux Group. Archived from the original on 2010-10-12. Retrieved 2010-08-31.
  59. ^ "Volta". Brand. Electrolux Group. Archived from the original on 2010-10-13. Retrieved 2010-08-31.
  60. ^ "Vac from the Sea". Electrolux.se. 2011-12-10. Archived from the original on 2013-05-07. Retrieved 2013-05-07.
  61. ^ *Nothing sucks like an ad myth |adland.tv Archived 2011-07-21 at the Wayback Machine
  62. ^ "The Project Gutenberg Etext of The New Hacker's Dictionary version 4.2.2". Gutenberg.org. Archived from the original on September 26, 2009. Retrieved 2013-05-07.
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