Zug,29.01.2009
Record sales for V-Zug
Domestic appliances manufacturer V-Zug has announced increased sales for 2008, despite the obvious financial crisis and the effect that it has had on the Swiss economy.
The company recorded sales of CHF 423 million last year – an increase of 2.6%. Furthermore, these figures do not include the sales of subsidiaries Gehrig Group AG and SibirGroup AG, who with combined figures of CHF 86.9 million showed an even more impressive year-on-year increase of 39.2 %.
The new Adora SLQ washing machine, energy-saving heat-pump dryer Adora TSL WP and the steamer range were the standard-bearers for 2008's healthy figures. Exports also increased despite the worldwide economic crisis, although by less than the company had hoped for. However, since the overall demand for domestic appliances is set to fall in Switzerland in 2009 due to the impending recession, the focus will very much turn to foreign markets. To date, only three of the company's premium models had been available for export, but as of this year, the range of cooking and bakery appliances destined for abroad will be significantly increased.
The new Adora SLQ washing machine, energy-saving heat-pump dryer Adora TSL WP and the steamer range were the standard-bearers for 2008's healthy figures. Exports also increased despite the worldwide economic crisis, although by less than the company had hoped for. However, since the overall demand for domestic appliances is set to fall in Switzerland in 2009 due to the impending recession, the focus will very much turn to foreign markets. To date, only three of the company's premium models had been available for export, but as of this year, the range of cooking and bakery appliances destined for abroad will be significantly increased.
New innovations, again in cooking and baking, as well as the opening of new logistics and production centres should also help V-Zug face an uncertain economic future with more confidence than most.