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Electrolux Stocks (ELUX.SE): Live Price Chart

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Overview

History

Products & Brands

Overview

History

Products & Brands

Electrolux AB, a Swedish multinational corporation based in Stockholm, is a leading manufacturer of home appliances. Globally, it consistently holds the second spot for appliance sales by units, trailing only Whirlpool.

Electrolux offers a diverse range of products under various brand names, including its own. These products primarily consist of major appliances and vacuum cleaners designed for domestic use. Electrolux is prominently listed on the Stockholm Stock Exchange and is a key component of the OMX Stockholm 30 index.

Electrolux, a global leader in home appliances, has a rich history stemming from a merger of two Swedish companies: Lux AB, a seasoned manufacturer, and Svenska Elektron AB, a younger enterprise founded by a former vacuum salesman with ties to Lux. While initially known for its vacuum cleaners, Electrolux has expanded its product line to encompass major appliances such as refrigerators, washing machines, dishwashers, and food service equipment.

Electrolux made its debut on the London Stock Exchange in 1928 and later on the Stockholm Stock Exchange in 1930. Today, its shares are traded on the NASDAQ OMX Nordic Market and over-the-counter.

In 1919, Svenska Elektron AB acquired Elektromekaniska AB, which became Elektrolux. The company initially sold Lux-branded vacuum cleaners across Europe, and in 1923 it acquired AB Arctic, adding absorption refrigerators to its offerings. Subsequent expansions saw the inclusion of washing machines in 1951, dishwashers in 1959, and food service equipment in 1962.

Throughout its history, Electrolux has actively pursued growth through strategic mergers and acquisitions. The 1960s marked a period of significant M&A activity, with the company acquiring several companies including ElektroHelios, Norwegian Elektra, Danish Atlas, Finnish Slev, and Flymo. In 1968, Electrolux sold its American subsidiary to Consolidated Foods and left the US market, only to return in 1974 with the acquisition of Eureka-Williams from National Union. It continued to sell vacuum cleaners under the Eureka brand in North America until 2004.

The 1990s saw Electrolux engage in even more acquisitions, including the purchase of Husqvarna. Hans Werthén, President and later Chairman of the Board, played a key role in Electrolux's decentralized strategy and rapid growth. While efforts to reduce costs, centralize administration, and achieve economies of scale were implemented throughout the 1960s and 1970s, more comprehensive company-wide restructuring efforts didn't begin until the late 1990s.

From 2000 onwards, Electrolux's presence in North America underwent significant changes. Aerus LLC, a vacuum cleaner manufacturer initially established to sell Electrolux products, relinquished trademark rights back to the Electrolux Group in 2000. Subsequently, Aerus discontinued using the Electrolux brand in 2004.

Simultaneously, Electrolux-manufactured vacuums were marketed under the Eureka brand. Electrolux continued to use both the Eureka and Electrolux brand names for their vacuums after 2000. To assist owners of Electrolux-branded Aerus vacuums, Electrolux USA customer service maintains a database of Electrolux-made vacuums and provides a link to Aerus's website.

In 2011, Keith McLoughlin assumed the role of president and CEO, becoming the first non-Swedish executive to lead the company.

Electrolux expanded its global presence in August 2011 by acquiring the Chilean appliance manufacturer CTI from Sigdo Koppers. This acquisition included several brands, namely Fensa, Gafa, Mademsa, and Somela.

On February 6, 2017, Electrolux announced its acquisition of Anova Applied Electronics, Inc., the U.S.-based provider of the Anova Precision Cooker.

Electrolux completed the spin-off of its professional division on March 23, 2020. The separated division was incorporated as Electrolux Professional AB.

In September 2023, Electrolux sold its refrigerator manufacturing facility in Nyíregyháza, Hungary, to Qvantum, a Malmö-based heat pump systems and technology company, for €38 million.

Products:

Electrolux's journey began in 1919 with the introduction of the Lux vacuum cleaner. In 1925, they launched their first refrigerator, an absorption model known as "D." The company unveiled the model 30 vacuum in 1937. During World War II, Electrolux produced a mixer/food processor called "Assistent" (Swedish for assistant), their only consumer product during the conflict.

In 1941, Electrolux introduced the Charlton Automatic rifle, a modified Lee-Enfield designed by New Zealander Philip Charlton. This rifle was intended as a replacement for the Bren gun for home guard soldiers. Electrolux expanded its product line in 1951 with the launch of the W 20, their first home washing machine, manufactured in Gothenburg, Sweden.

The company continued to innovate, introducing the D 10 dishwasher in 1959, a countertop model nicknamed "round jar." Electrolux entered the robotic vacuum cleaner market in 2001 with the release of the Trilobite.

Brands:

Electrolux operates under a diverse portfolio of brand names worldwide, many of which were acquired through mergers and acquisitions. These brands often cater to specific countries or geographic regions. Below is an incomplete list, organized by geographic area:

Americas

  • Anova Applied Electronics, Inc.: Provider of the Anova Precision Cooker
  • Electrolux ICON: Premium consumer appliance brand sold in the United States
  • Eureka: American consumer vacuum cleaner brand (sold to Midea, China, in 2016)
  • Fensa: Chilean consumer appliance brand, widely available in Latin America
  • Frigidaire: Major appliance manufacturer
  • Gafa: Argentinean appliance manufacturer
  • Gibson: Refrigerator and air conditioning manufacturer
  • Mademsa: Chilean home appliance brand
  • Philco: Former U.S. consumer electronics and appliance manufacturer for appliances (the brand name is also used separately for electronics by Philips)
  • Sanitaire: Commercial product division of Eureka
  • Somela: Chilean home appliance brand, available throughout Latin America
  • Tappan: Former U.S. appliance manufacturer
  • Viking Range: Major appliance manufacturer
  • White-Westinghouse: Former U.S. appliance manufacturer

Europe

  • Arthur Martin
  • AEG
  • Atlas (Denmark)
  • Corberó (Spain)
  • Elektro Helios: Manufacturer of consumer appliances for the Swedish market
  • Faure: French consumer appliance maker
  • Lehel: Consumer appliance brand sold in Hungary and elsewhere (acquired in 1991, the brand has not been in use since 1999)
  • Marynen/Marijnen: Consumer product brand sold in the Netherlands
  • Parkinson Cowan: Cooking appliances (United Kingdom)
  • Progress: Vacuum cleaner brand sold throughout Europe
  • REX-Electrolux: Italian appliance manufacturer
  • Rosenlew: Finnish consumer product brand sold in Nordic countries
  • Samus: Romanian producer of cooking stoves headquartered in Satu Mare
  • Voss: Premium consumer cooking appliance and equipment supplier in Denmark and elsewhere
  • Zanker: Consumer kitchen appliance brand sold in central Europe
  • Zanussi: Italian appliance manufacturer that became part of Electrolux in 1984
  • Zanussi Professional: Professional kitchen equipment manufacturer
  • Zoppas: Consumer products brand sold in Italy

Oceania

  • Dishlex: Budget-friendly dishwasher brand sold in Australia (discontinued in August 2021)
  • Kelvinator: Air conditioning and fridge freezer brand sold in Australia, India, and elsewhere
  • Simpson: Previously sold kitchen and laundry appliances; now only sells laundry appliances. The brand is sold in Australia and New Zealand (discontinued in July 2022)
  • Westinghouse: Kitchen and laundry appliance brand in Australia, licensed from Westinghouse Electric Corp to Electrolux Home Products Pty Ltd.

Middle East

  • King: Israeli kitchen appliance brand made by REX-Electrolux, an Italian Electrolux subsidiary 
  • Olympic Group: Home appliance brand in Egypt

Global/Other

  • Arthur Martin-Electrolux
  • Beam: Electrolux's central vacuum brand
  • Castor
  • Chef
  • Dito: Professional food processing equipment
  • Electrolux Professional
  • Frigidaire: Full-range major appliance brand sold globally
  • Juno-Electrolux: Premium consumer kitchen appliance brand
  • Molteni: Professional stoves
  • Tornado: Vacuum cleaners and other consumer products
  • Therma
  • Tricity Bendix
  • Volta: Vacuum cleaner brand sold in Australia, Sweden, and elsewhere

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