Electrolux is a multinational appliance manufacturer headquartered in Stockholm, Sweden. The company was formed in 1918 when Lux AB was merged with Svenska Elektron AB to form Elektrolux, with the spelling later changing to Electrolux in 1957. When the company was formed it had 400 employees and now it employs over 60,000 people worldwide. The company’s history is closely tied to the vacuum cleaner as Lux AB originally manufactured electric vacuum cleaners, but today it makes all major appliances for both consumer and professional use.
Electrolux’s revenue has remained relatively steady in the last few years with the figure in 2013 standing at around 16.8 billion U.S. dollars worldwide. The company generates the majority of its revenue, around 60 percent, from its kitchen equipment segment, with a further 17 percent generated through laundry equipment. Its biggest regional market is the EMEA region, where 31 percent of its total revenue is generated from the sale of major appliances. North America is also a key area for the company as 29 percent of its revenue originates here.
Electrolux is the fourth largest household appliance company worldwide based on its sales in 2013. The largest vendor in this market was the Midea Group, a privately-owned Chinese company, which generated sales of almost 20 billion U.S. dollars. Electrolux’s share in the U.S. market is slightly lower than its worldwide average as its 8.4 percent share in 2013 made it the fifth largest vendor in the country. This is nevertheless a major market for the company as household appliance store sales in the U.S. reached almost 15.5 billion U.S. dollars in 2013. Indeed, the United States is most profitable single country for Electrolux as sales in the U.S. generated revenue of around 4,800 million U.S dollars in 2013, in comparison to sales in Sweden which amounted to just over 600 million U.S. dollars.
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