Daewoo Re-Enters Austria and Northern European Appliance Markets
Sep 27, 2012
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Daewoo Electronics is re-entering the Austrian market and intends to restart its business in Denmark, Sweden, Norway, and Finland.
Daewoo's Frankfurt office signed deals to supply home appliances to Austrian importer GGV, washing machines to washing machine manufacturer Eudora, and kitchen appliances to kitchen furniture distributor MoeMax.
Daewoo initially entered the Austrian market in 1992, but pulled out in 2008.
Daewoo is also discussing a supply agreement with Hofer, a discount retailer with more than 400 stores. Daewoo said Hofer has 61% of the Austrian market share.
In Europe, Daewoo Electronics has subsidiaries and branches in France, the UK, Spain, Poland, Germany, and Rumania.
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