Product Code Database
Electrolux AB (; originally Elektromekaniska AB and later Elektrolux AB) is a Swedish multinational home appliance manufacturer, headquartered in Stockholm. It is consistently ranked the world's second largest appliance maker by units sold, after Whirlpool.
Founded in 1910, Electrolux products are sold under a variety of brand names (including its own), and are primarily and intended for home consumer use.
Electrolux has a primary listing on the Stockholm Stock Exchange.
In 1912, Carlstedt met Axel Wenner-Gren (1881-1961), a salesman, who proposed that he start a collaboration with Lux, a company producing kerosene lamps for outdoor use founded in 1901, whose owner was Carl G. Lindblom.
Carlsted and Lindblom, convinced by Wenner-Gren, started an important collaboration between their companies: Lux specialized in the production of vacuum cleaners under license from the American Keller Manufacturing Company of Philadelphia (producer of the Santo vacuum cleaners), on which the motors produced by Elektromekaniska were mounted.
In 1915, Wenner-Gren founded Svenska Elektron, with which he was able to market his vacuum cleaner model under the Elektron brand, produced on commission by another company, which recorded a significant commercial success.
The following year, in 1916, Svenska Elektron acquired the majority of shares in Elektromekaniska, of which Wenner-Gren took over the management, and two years later, in 1918, it acquired significant shares in Lux.
[[File:Lurelle Guild. Vacuum Cleaner, ca. 1937..jpg|thumb| Vacuum cleaner designed by Lurelle Guild Brooklyn Museum]] Electrolux made an initial public offering on the London Stock Exchange in 1928 (it was delisted in 2010) and another on the Stockholm Stock Exchange in 1930.
, its shares trade on the NASDAQ OMX Nordic Market and over-the-counter. Electrolux is an OMX Nordic 40 constituent stock.
In 1923, the company acquired Arctic and subsequently added absorption refrigerators to its product line. Other appliances soon followed, including in 1951, in 1959, and food service equipment in 1962.
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. 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.
This style of growth continued through the 1990s, seeing Electrolux purchase scores of companies including, for a time, Husqvarna Group.
, 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 with the focus so firmly on growth, further company-wide restructuring efforts only began in the late 1990s.
In North America, the Electrolux name was long used by vacuum cleaner manufacturer Aerus, 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.
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. Kitchen Appliances Manufacturers Best Kitchen Brand in India
Keith McLoughlin took over as president and CEO on 1 January 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.
On 6 February 2017, Electrolux announced that it had agreed to acquire Anova Culinary, the U.S.-based provider of the Anova Precision Cooker.
On 23 March 2020, Electrolux completed the spin-off of its professional division, which the separated company incorporated as Electrolux Professional.
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.
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.
In the 1960s, the company successfully marketed vacuums in the United Kingdom (UK) with the slogan "Nothing sucks like an Electrolux".* Nothing sucks like an ad myth |adland.tv In the United States, it was often assumed that this slogan was a brand blunder, but the informal American meaning of the word "sucks" was already well known in the UK, and the company selected it deliberately in the hopes that the slogan, with its double entendre, would gain attention.
In Indonesia, the Electrolux previous slogan was " Kalau saja semua seawet Electrolux" (English: If only all are as durable as Electrolux).
|
|
