Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Whirlpool.
Consumer electronics or home appliances were invented for everyday use, mostly in private houses. Thanks to the home appliances industry, we can carry out our daily household activities without any pressure. Be cooking, cleaning, or even preserving food, this industry is a blessing for us.
The beginning of this industry can be said to have started around the 1900s. Ever since there have been many inventions in the field of home appliances with advanced technological developments.
In this article, we are going to talk about one of the world’s most famous home appliance brands whose catchy jingle has been a part of our lives from the beginning. ‘Whirlpool’, was founded some 111 years ago by Louis Cassius Upton and Emory Upton. The Whirlpool Corporation is a multinational American manufacturer and marketer of home appliances headquartered in Benton Charter Township, Michigan, United States.
Explore more details about Whirlpool such as its startup story, its business and revenue model, and more.
Whirlpool – Company Highlights
| Headquarters | Michigan, United States |
|---|---|
| Sector | Home Appliances |
| Type | Public |
| Founder | Louis Cassius Upton and Emory Upton |
| Founded | 1911 |
| Valuation | $7.82 billion |
| Revenue | $21.985 billion (2021) |
| Total Funding Raised | $19.3 million |
| Website | whirlpoolcorp.com |
Whirlpool – About
Whirlpool – Industry details
Whirlpool – Founders, and Team
Whirlpool – Startup Story
Whirlpool – Mission and Vision
Whirlpool – Name, Tagline, Logo
Whirlpool – Business Model
Whirlpool – Revenue Model
Whirlpool – Funding, and Investors
Whirlpool – Mergers, and Acquisitions
Whirlpool – Advertisements and Social Media Campaigns
Whirlpool – Awards and Achievements
Whirlpool – Competitors
Whirlpool – Future Plans
Whirlpool – About
Whirlpool is a Fortune 500 company and calls itself a proud part of the American heritage. Whirlpool is the company’s flagship brand, but it also has other brands like Maytag, KitchenAid, Indesit, JennAir, Amana, Gladiator GarageWorks, Brastemp, Inglis, Estate, Bauknecht, Ignis, Consul, and, in Europe, Hotpoint. In the USA, Haier controls the Hotpoint. The company also has its founding families based in Canada, India, Germany, Brazil, Italy, and France.
At present, Whirlpool has nine manufacturing facilities in the United States with 69,000 global employees.
Whirlpool – Industry details
The global home appliances industry is expected to grow tremendously in the coming years. Given the technological advancements that are set to drive this industry over the forecasted years. Reports suggest that the global home appliances industry is anticipated to reach a value of $289.6 billion in 2031. One of the biggest driving factors in the home appliances market is increased purchasing power and easier access to high-quality products at reasonable prices.
Whirlpool – Founders, and Team
Whirlpool was founded by Louis Cassius Upton with his patent uncle Emory Upton.
Louis Cassius Upton
A resident of New York, Louis Upton graduated in 1908 from Lake Forest Academy in Lake Forest, Illinois. He was only 17 when his father died in an accident. While finishing high school, Louis got a job selling insurance to help support the family. Soon after, he got a job at the Commonwealth Edison company, where he developed the idea of making washing machines.
Louis Cassius Upton was a business leader on a national scale. He served on the federal government’s Committee for Economic Development as a Trustee and as a director of the National Association of Manufacturers. Besides this, he served as a vice president of the US Chamber of Commerce. Not only this, but he was also a member of the International Chamber of Commerce, and he represented the United States at the organization’s international convention in Switzerland in 1947.
Louis Upton married Elizabeth Fogg in 1914 with whom he had four children; Robert Cassius Upton, Phillip Upton, Judith Upton Hoyt, and Sally Upton. He died in 1952 due to a massive cerebral hemorrhage.
Marc Bitzer
March Bitzer is the CEO and Chairman of the Board at the Whirlpool. He spent eight years as a vice president at the Boston Consulting Group in Munich and Toronto before joining Whirlpool Europe.
March Bitzer received his MBA and doctorate from Switzerland’s St. Gallen Graduate School of Business, Economics, and Law. Furthermore, he is also appointed to the BMW AG Supervisory Board.
Whirlpool – Startup Story
Whirlpool’s story began in 1911 when Louis Upton was working as an insurance salesman. His uncle Emory Upton owned a machine shop called  Upton Machine Company. They worked together but had many failed attempts. However, Louis was determined to add an electric motor to their production. As a result, their sales increased, and became one of the top suppliers of the washer during the 1920s.
The Great Depression had little impact on the company. Its factories were converted to armament production during WWII. It introduced an automatic, spinner-type washer in 1947, which Sears (Louis Upton supplied their washers) sold under the “Kenmore” brand. A year later, the company sold it under the “Whirlpool” brand name.
Whirlpool entered the Indian market as part of its global expansion strategy in the late 1980s. It formed a partnership with the TVS Group and opened the first Whirlpool manufacturing facility in Puducherry, where it produced washing machines. By the early 2000s, Whirlpool was already expanding in international boundaries.
Whirlpool – Mission and Vision
The mission of Whirlpool states, “Earn the trust and create demand for our brands in a digital world.”
Whirlpool as a company is committed to delivering the best kitchen and home appliances to people to improve their overall life at home.
Whirlpool – Name, Tagline, Logo
The tagline of this popular brand is not just a slogan but an actual affirmation of the company as a whole. Their tagline says, “Every Day, Care”
The other famous taglines of Whirlpool are:
“Designed to Delight”
“Every Home, Everywhere with Pride, Passion, and Performance”
Whirlpool – Business Model
The multinational company, Whirlpool consists of a mass-market business model. The company offers a vast variety of consumer goods that are mostly targeted at consumer segments who need home and kitchen appliances for day-to-day activities. Its prior business model involves creating, developing, and manufacturing products for customers.
Whirlpool Corporation operates in almost 170 countries and maintains other renowned brands like Whirlpool, KitchenAid, Maytag, Consul, Brastemp, JennAir, Amana, Gladiator GarageWorks, Consul, and more. Whirlpool’s primary resources are its physical assets, which include a network of 70 manufacturing and technology research centers worldwide, as well as 14 manufacturing plants; nine in the United States, and five in Mexico.
Whirlpool – Revenue Model
As per the latest reports, Whirlpool made $22 billion in sales.
The company follows a cost-driven structure that aims to reduce expenses through significant automation and low-cost value propositions. Its primary cost driver is the cost of goods sold, which is a variable expense. Other significant drivers include sales/marketing and administration, both of which are fixed costs.
There are two ways through which Whirlpool generates revenue;
- Product Based – Revenue is earned through selling its products to the general public
- Licensing Based – In this, the company generates its revenue from royalties received from third-party licensing of its trademarks to manufacture, sell, and service certain products bearing the Whirlpool, Maytag, KitchenAid, and Amana brand names.
Whirlpool – Funding, and Investors
On October 30, 2009, Whirlpool raised a total funding amount of $19.3 million through a Grant funding round funded by the US Department of Energy. It is a government administration that regulates energy policy, research, and development.
Whirlpool – Mergers, and Acquisitions
Whirlpool has acquired a total of 8 organizations which are listed below:
| Date | Acquiree name | Amount |
|---|---|---|
| August 8, 2022 | InSinkErator | $3 billion |
| May 2, 2017 | Yummly | – |
| May 19, 2015 | American Dryer Corp | – |
| October 24, 2014 | Hefei Rongshida Sanyo Electric | – |
| July 10, 2014 | Indesit Company | $1 billion |
| August 22, 2005 | Maytag Corporation | $2.7 billion |
| July 8, 2002 | Vitromatic S.A. de C.V. | $150 million |
| May 1, 2002 | Polar S.A | $27 million |
Whirlpool – Advertisements and Social Media Campaigns
For many years, Whirlpool has always promoted itself through interesting and relatable stories that are common in every house. Its advertisements have impacted many targeted audiences when it comes to home appliances. One such ad by Whirlpool was created for the Indian market when they roped in Bollywood stars like Kriti Sanon and Sushant Singh Rajput to promote their 3D cooling system Air conditioners. The video on YouTube garnered over 4.2 million views and was a big hit in commercial ads on TV.
Whirlpool – Awards and Achievements
Below are listed the awards won by Whirlpool Corporation:
- Whirlpool Corporation was named Americaâs Greatest Workplaces for Diversity 2023 by Newsweek
- Whirlpool Corporation was recognized in the 2022 Dow Jones Sustainability World Index
- Whirlpool Corporation Ranks Number Three in Newsweekâs List of Americaâs 500 Most Responsible Companies for 2023
- Whirlpool Corporation was named to Forbesâ list of âWorldâs Best Employersâ in back-to-back years
- JennAir brand (brand of Whirlpool Corporation) was awarded Architectural Digest Great Design Award in 2022
- Whirlpool Corporation was recognized for the sixth straight year as a âBest Place to Work for Disability Inclusionâ for 2022
- Whirlpool was recognized as Manufacturing Leadership Awards 2022 Winner
- Whirlpool Corporation brands were recognized by Prophet Brand Relevance Index in the Top 50 Brands of 2022
Whirlpool – Competitors
Here are some of the top competitors of Whirlpool;
- Samsung
- LG Electronics
- Bosch
- Panasonic
- Midea
- Electrolux
Whirlpool – Future Plans
To make their home appliances work more harmoniously in houses, Whirlpool has announced that it is going to bring Matter support. The matter is the new smart home language, spearheaded by the Connectivity Standards Alliance and supported by hundreds of the world’s leading IoT and smart home companies. The company has further revealed it is going to be an active member of the Matter working group solely focused on appliances. The decision is made to improve the living conditions of consumers by offering smart home appliances.
FAQs
Who is the current CEO of Whirlpool?
Marc Bitzer is the current CEO of Whirlpool.
Where is the headquarter of Whirlpool?
The headquarter of Whirlpool is in Michigan, United States.
Is Whirlpool a public company?
Yes, Whirlpool is a public company.
