France-based small appliance maker Groupe SEB, along with Sweden's Electrolux, were identified as the world market leaders for small household appliances by an IMS Research report in August 2006. IMS's “The Worldwide Market for Small Household Appliances—2006 Edition” said Groupe SEB was number one for both small kitchen appliance and garment care appliance categories, with estimated market shares of 12 percent, and 15.5 percent, respectively in 2005. Electrolux dominated in the floor care appliance category, with an estimated market share of 13 percent.
The study said around 405 million small kitchen appliances, garment care appliances and floor care appliances were shipped worldwide in 2005, worth more than U.S. $16.7 billion. The market is forecast to reach 457 million units in 2010, with corresponding revenue forecast at $18.4 billion. Asia Pacific is forecast to be the major driver of growth. Within Asia Pacific, China is the market with the greatest potential, due to its huge household numbers and rising income levels.
Groupe SEB Buys U.S. Cookware Business
In August, Groupe SEB received approval from a U.S. bankruptcy court in Wilmington, Delaware to buy some of the assets of Mirro WearEver, maker of bakeware and cookware. The acquisition includes inventories, trade receivables, trademarks, and equipment at its plant in Nuevo Laredo, Mexico.
The acquisition, according to Chairman and CEO Thierry de La Tour d'Artaise, "Allows us to pursue our international development and to consolidate our presence in the American cookware market, where Groupe SEB now becomes an undisputed leader."
Groupe SEB's 2006 Sales
Groupe SEB said in mid-October of 2006 that provisional 2006 sales, measured for the first 6 months of 2006, remained solid, rising 8.4 percent at current exchange rates and 7.5 percent at constant exchange rates. SEB reported 1.729 billion euros (approximately U.S. $2.169 billion) in revenue for the period.
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