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Haier Europe sticks to localization strategy, advancing implementation of BRI

July 06, 2019


Abstract : Haier Europe will stick to the localized production and sales to meet user demands with customized products, and facilitate the implementation of BRI, Yannick Fierling, CEO of Haier Europe said at the Second Belt and Road Conference of Investment Matching for Chinese and Italian Enterprises.

Photo: Yannick Fierling (middle), CEO of Haier Europe addresses the Second Belt and Road Conference of Investment Matching for Chinese and Italian Enterprises in Milan, Italy, June 5. (Xinhua/Shen Zhonghao)

BEIJING, June 6 (Xinhua) -- Haier Europe, an arm of the Chinese home appliance giant Haier, will stick to the localized approach to production and sales to meet user demands with customized products, and facilitate the implementation of the Belt and Road Initiative (BRI), Yannick Fierling, CEO of Haier Europe said at the Second Belt and Road Conference of Investment Matching for Chinese and Italian Enterprises held on Friday in Milan, Italy.

Speaking about Haier's acquisition of Italian home appliance maker Candy Group, Fierling pointed out that it's a win-win cooperation for the two sides to strengthen research and development (R&D), innovation, marketing, and branding. He added that such mergers and acquisitions by Chinese enterprises were based on the rules of business world and would benefit relevant parties.

Last September, Haier announced to buy 100 percent stake in Candy at 475 million euros, aiming at further accelerating its development in the European market with the Italian enterprise as its operation platform in the region. After the acquisition, Haier Europe set up its headquarter in Brugherio, where Candy is located.

The transaction would further enhance the competitiveness of both sides in the region and worldwide, and help them better meet the increasing market demands for more diversified and individualized products. Innovation and collaboration between the two sides in the filed of smart homes would continue to offer new user experience, according to Haier.

The Second Belt and Road Conference of Investment Matching for Chinese and Italian Enterprises, organized jointly by China Economic Information Service (CEIS) of Xinhua News Agency and Class Editori, a leading media group in Italy, attracted about 450 attendees from Italy and China. At the conference, they shared insights over topics such as how to better participate in the Belt and Road construction, seek business investment opportunities, and achieve interconnection. (Contributed by Hu Pingchao, Chen Zhanjie, Shen Zhonghao, edited by Su Dan)

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