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Panasonic Look To Invest In Gorenje

Posted by Alistair Ward on 16th Jul 2013

Gorenje Kira2

Panasonic, a giant of the electronic retail market, is looking to expand into the ever growing eastern European market by investing in Gorenje, one of the largest appliance manufacturers in the region. Gorenje are well known throughout eastern Europe for their quality appliances and fantastic designs, something that the two companies have in common. Now Gorenje and Panasonic will combine their resources to help produce ecologically responsible and technologically innovative refrigerators, ovens, and washing machines amongst other kitchen appliances.

In the deal Panasonic will buy 10% of Gorenje, an estimated 10m Euros, in an attempt to begin to challenge other major appliance manufacturers, including Electrolux, in the region. As Gorenje retail to 90 countries, Panasonic are tapping into a well established and well renowned brand. It is these existing trade routes that Panasonic will hope to benefit from in the near future. By combining research and development, marketing and sales, Gorenje and Panasonic will hope to compliment each others strengths for the improvement of future revenue.

This is a major announcement for the Slovenian manufactuer as they intend to increase sales by 80million Euros per year until 2018.  As an ever growing brand in the UK, a partnership with a major worldwide brand such as Panasonic will help Gorenje to improve their image and brand power across all markets.

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