Whirlpool makes appliance alliance with leading China retailer


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Whirlpool Corporation ( WHR , quote ), the world's leading manufacturer and marketer of major home appliances, announced yesterday a strategic alliance in China with Suning Appliance Co Ltd. The agreement gives Whirlpool preferential access to Suning's national distribution network of 1,700 retail outlets throughout China.

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President of Whirlpool International Michael Todman called the new partnership, "a key enabler to our China growth strategy to become the leading international appliance brand and grow our domestic sales to $1 billion over the next several years."

Whirlpool is the world's leading manufacturer and marketer of major home appliances, with annual sales of approximately $19 billion in 2011. The company is just beginning to expand into the Asia market -- according to The Wall Street Journal , Whirlpool derives 27% of its sales from Latin America , but only 4% from Asia.

Suning Appliance is China's largest retailer of consumer appliances, computers, and communication products, with stores covering  300 cities all over China. Headquartered in Nanjing, the company has 180,000 employees and annual sales of more than $15 billion.

Suning Appliance is privately owned, but shares of Whirlpool rose 1.2% after the announcement, closing at $77.76.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks

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