Appliance giant Haier has reported a 20% growth in sales in its 2020/2021 financial year results boosting its global market share to 16.2%.
During the same period, it saw sales of its ‘smart’ MDA increase by 30% year-on-year and a 12% rise in sales for Haier Europe.
According to the brand, during the same period a quarter of all fridges and washing machines sold were from the Haier, Hoover or Candy brands.
The results which are said to put the company on track for its ‘ambitious’ business objectives – were shared at its annual conference.
The virtual conference, which saw 500 attendees across two days, included presentations from the CEO of Haier Europe, Yannick Fierling, UK & ROI CEO, David Meyerowitz (pictured) and Piergiorgio Bonfiglioli, marketing director IoT & smart solutions.
Meyerowitz reported on consumer confidence increasing, which helped the group achieve #1 positions in several product categories: freestanding and built-in washing machines and washer dryers, freestanding and built-in tumble dryers, multi-door refrigeration and wine coolers.
Fierling said: “Our three-element strategy of accelerating value, increasing sales quantities and optimising brand value have supported brand expansion into new lines and categories. This, combined with increased manufacturing capacity, upweighting systems and our triple-brand and price quartile strategies, enabled us to mark a challenging but exceptional year.”
By the end of the 2020/21 financial year, the company had six production sites, with three new factories set to open this year in Romania, Turkey and China. It now employees 7,700 people, including 300 research and development engineers.