Whirlpool Corporation (
), 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.
[caption id="attachment_52245" align="alignright" width="220"
caption="Another place where the Maytag repairman can't get work."]
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
Suning Appliance is privately owned, but shares of Whirlpool
rose 1.2% after the announcement, closing at $77.76.