Haier, the world’s leading appliance maker by sales volume and one of China’s most famous brands, plans to expand in Europe by acquiring or building production facilities that will bring it closer to EU consumers.
For a Chinese mainland brand that wants to make it in Europe, it helps to have a name that sounds European – which means Haier could well realise that ambition.
The company has built a successful presence in the US, where 30 per cent of households own a Haier product. Overall, 26 per cent of its $23bn global turnover comes from overseas.
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