Major appliance brand Haier has announced double-digit growth for the financial year, marking the increasing rise of the brand in Europe.

Haier’s consolidated net turnover of $23.3 billion (£14.3bn) for 2011 and 12% growth compared with the previous year.

The growth has been attributed to the brand's investment in research and development, its industry know-how and the adaptation of its product offerings for the respective needs of each of its local markets.

As part of its strategic expansion, Haier has reinforced its presence in the Asian market with a headquarters in Osaka in Japan, where it will focus on research and development, manufacturing and marketing. Two R&D centres in Tokyo and Kyoto will support the new strategy, which follows Haier's acquisition of Sanyo's washing machine and refrigeration manufacturing divisions.

In Europe, Haier launched its Home Solutions division at Mostra Convegno Expocomfort - the international trade show for heating and refrigeration - in March, which will develop solutions that improve the comfort of the household environment, including water and energy treatments. The business line will be rolled out across Europe, starting with the southern European markets.

Jeff Moody, sales and marketing director for Haier UK and Ireland (pictured), said: "Haier has seen extremely positive growth in 2011, both in terms of increased market share and international reach. This confirms that Haier is a powerful global player, here to stay. The company's investment in R&D is key to driving future performance, as it ensures that Haier is applying the very latest technology to products that are adapted to the needs of consumers in each market, including the UK.

"This is critical for success in the current economy. Haier's products allow retailers to offer consumers products that not only meet their needs, but also offer something extra. Haier's partners in the UK can be confident about the future."