Vestel ramps up investment
Vestel has announced it is set to invest an additional $150 million (£116m) in dishwashing and laundry production to help support the growth and development of its Sharp Home Appliances brand.
The investment will ramp up production capacity at its 1.1 million square-foot manufacturing complex in Manisa, Turkey, and is intended to help double Sharp Home Appliances’ market share in Europe.
Sharp Home Appliances is set to account for a “healthy percentage” of the extra 750,000 washing machines and 900,000 dishwashers that are scheduled for production.
Vestel and Sharp have confirmed that they would be launching new laundry and dishwashing series that will feature “record-breaking” efficiency and smart technologies, which will be showcased at IFA next week (September 1-6).
Retailers and consumers can expect to see ultra-quiet and larger-capacity models, such as 10kg, the companies said.
Flagship models will be wi-fi-enabled and capable of offering product tips and advice, as well as contacting the Sharp customer care team if any potential issues are detected.
European sales and marketing director Alberico Lissoni commented: “Although we only started this brand licensing partnership with Sharp in 2015, we have already seen incredible growth. Located on the edge of Europe, our vast manufacturing base is not only enabling us to bring high-quality innovation to the accessible mid-range market, but also to do so in quick-to-market time frames. With such huge resource and investment behind us, we’re forging ahead, fulfilling our growing sales potential across new as well as existing product categories.
“Moving forward, for the UK and the rest of Europe, this expansive R&D facility is also going to be integral to our strategy for kitchen specialists, enabling us to offer continuously updated, design-led built-in and freestanding ranges that are not only competitively positioned, but also importantly, ahead of trend.”