Rahmi M. Koc, the Honorary Chairman and Member of the Board of Directors of Koç Holding A.Ş., and Hakan Bulgurlu, Arçelik CEO, visited Beko Thailand factory and met APAC Management and Country Managers. The management made a detailed business review of the Region and a tour of the Rayong Refrigerator plant. Rahmi M. Koc expressed his content about the regional commitment, wished the management best performance continued and promised another visit next year to review further.
APAC region, having a population of 2.1 billion people and annual GDP growth around 6%, offers many opportunities. Many countries in the region are expected to rank at top positions by 2050 like Indonesia 4th, Philippines 19thand Vietnam 20th. On the other hand, there are great challenges and competition with well settled big global players as well. Beko, having the vision of being one of the leading and respected global brands, develops its organization and product range to meet these challenges and customer expectations in the region.
Rayong Refrigerator Plant is producing high quality products and is exporting to 46 countries. Production reached the 500,000 annual production level efficiently within only two years.
The Business Development of Beko and its premium brand position in APAC is the result of having attractive product offers with matching retail execution, European Leadership in FS Sales and Premium partnership of FC Barcelona as the most compelling endorsement. Continuously searching for consumer insights and delivering new premium alternatives to market, Beko follows a dynamic strategy and expands the business in the region.
China is the largest Home Appliance market in the world and Beko is growing sustainably and strongly thanks to good cooperation with leading retailers of China and improved business structure.
The APAC Region has already delivered high business volume increase in 2017, thanks to the investment in Thailand for APAC regional hub and refrigerator factory to access emerging ASEAN markets. Regional APAC strategy has addressed many growth opportunities in Thailand, Vietnam, and Malaysia, while Indonesia will be a new subsidiary operating in the first half of 2018.
Other than significant improvements in China and ASEAN subsidiaries, Direct sales area has presented strong growth and profitable results this year. Beko has been distributed in Singapore, Philippines, Brunei and South Korea which shows impressive performance. Plans are in place to grow businesses in order to achieve leadership positions in the APAC markets.