Up until about 10 years ago, even our accountants had a hard time guessing the exact number of brands that Electrolux had acquired. Today, we are pretty close to achieving our goal of one overarching premium brand complemented by a handful of regional mass brands. It has been a bumpy ride, but worth every scrape and bruise.
Early in the last century, Electrolux had emerged as a pioneer and innovator in the appliance industry. It launched the world’s first electric refrigerator and the world’s first ergonomic vacuum cleaner. Equipped with runners, its light weight scored a big hit in its main target group at the time: maids and housewives. By the 1970s, globalisation was impacting all industries; scale and volume become the chief focus for many businesses. In response, Electrolux embarked on an extended period of acquisitions. Between 1970 and 2000, Electrolux grew sales from approximately SEK 2 billion to SEK 124 billion.
