Home appliances manufacturer Arctic, which produces and retails the Beko brand, estimates a 30% surge this year, prompted by the consumers' shift towards more technologically advanced products.
Currently, Beko accounts for 27% of the company's turnover, which amounted to 224 million euros in the last financial year.
"The Beko brand has seen significant growth over the last three years. The sales value was 70% higher last year than in 2005, a time during which Romanian buyers matured, and became more aware of their preferences in terms of home appliances," said Monica Iavorschi, marketing and sales manager of Arctic.
According to ZF calculations, Beko sales went up from 35.5 million euros in 2005, when Arctic's turnover amounted to 150 million euros, to over 60 million euros in 2007.
A 30% rise for Beko in 2008 would put sales at 78 million euros. Refrigerators are manufactured in Gaesti, whilst the remaining products are imported.
One of the growth drivers in 2008 will be a product with complex functions, as new technology is the main distinguishing feature that Beko relies on. The company expects to sell 10,000 units of the Beko Voice Recorder freezer, at a price of 1,420 RON (around 400 euros) per unit, whilst overall sales are expected to revolve around 4 million euros.
"We are positive Beko will preserve its growth rate. (...) There are other products in the range that stand out from this point of view (i.e. technologically)," said Iavorschi.
Consumers' preference for higher priced multifunctional products was reflected in the company's 2007 financial results. The turnover went up 15% in terms of value, whilst the sales volume increased by 4%. The company sold more than 1.5 as the overall value amounted to 118 million euros.
Home appliances manufacturer Arctic, which produces and retails the Beko brand,
