On June 26, the stocks of electronics manufacturers Voltas and Whirlpool saw notable increases.
This occurred in response to a report that asserted Panasonic’s withdrawal from loss-making categories in India, including refrigerators and laundry machines.
According to a media outlet, which cited persons familiar with the situation, Japanese electronics giant Panasonic Holdings is cutting back on its consumer electronics operations in India and is leaving the refrigerator and washing machine markets where it was unable to gain a sizable market share.
Company Declared the Move in an Official Statement
The media outlet has been informed by a Panasonic spokesperson that the company is indeed exiting the two segments in India. The company is closing its production line for these products at its facilities in Jhajjar, Haryana, according to the report.
At the moment, the company works as a contract manufacturer for other companies. Panasonic in India is rebuilding operations to concentrate on future-ready growth segments like home automation, heating, ventilation, and air conditioning (AC), business-to-business (B2B) solutions, electricals, and energy solutions, in accordance with our global strategy and changing market dynamics, a spokesperson said in an official statement.
In addition to continuing to offer complete customer support, including parts and warranty coverage, Panasonic will assist dealers with inventory disposal.
Panasonic in Restructuring Mode
According to various media reports, Panasonic’s reorganisation exercise will involve significant layoffs, with the number likely to be in the high double digits. Following this, the business will keep operating in India in the television, air conditioner, and other categories.
When questioned about the potential layoffs, a representative of the company stated that the company is fully committed to supporting and aiding the impacted employees and that it is a difficult but necessary step.
By increasing their market share, the other competitors in the categories will probably gain from the departure of a significant player from the market. Voltas shares increased more than 2% to trade at INR 1,341 apiece, while Whirlpool shares surged more than 5% to reach their day’s high of INR 1,455 apiece.
Additionally, the business stated that it will help dealers get rid of the leftover refrigerator and washing machine inventory. Existing customers will continue to get warranty coverage, spare parts, and after-sales service.
Panasonic’s action is in line with a broader worldwide trend in which established electronics companies are simplifying their consumer portfolios in order to give priority to high-growth sectors.
The business is currently establishing itself as a major force in commercial HVAC (heating, ventilation, and air conditioning) systems, sustainable energy technologies, and smart home ecosystems in India.
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 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 America’s 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 Newsweek’s List of America’s 500 Most Responsible Companies for 2023
Whirlpool Corporation was named to Forbes’ list of ‘World’s Best Employers’ 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 “Best Place to Work for Disability Inclusion” 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;
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.
Using celebrities as brand ambassadors have always been a great concept for any business. An ambassador’s entire appearance is designed to capture customer attention, which is why companies are increasingly turning to celebrity brand ambassadors to sell their products. Incorporating a well-known celebrity into a brand enhances the chances of it getting recognised. Advertisers would benefit from using celebrities because they are well-known, and usually have a large following, so it’s reasonable that they would use them to connect with the larger part of their target population.
“Heropanti” movie gave Kriti Sanon her first break in Bollywood, and since then she went on to become a well-known actress with a large following. Her large fan base and influence make Sanon an ideal brand ambassador, and many brands and advertisers can benefit from her popularity and influence. It could be a smart move to have Kriti Sanon endorse a brand because she will bring the brand to the attention of her enormous audience and fan base. Businesses would love to recruit her as the face of their brand because of her popularity.
Kriti has appeared in a number of commercials, some even before her big Bollywood debut. She used to be a model and has been in commercials for companies such as Amul, Samsung, and Himalaya. Kriti Sanon launched “The Tribe” on May 23, 2022, a fitness startup, which is the first startup that Kriti Sanon founded. Cofounded along with Anushka Nandani, Karan Sawhney, and Robin Behl, Kriti Sanon mentioned that “The Tribe” will launch its app next year.
The Tribe – A startup founded by Kriti Sanon
The Tribe “believes in motivating you to become the best and the fittest version of yourself- Be it with in-studio, group/personal or virtual sessions”, said its Cofounder and Bollywood actress Kriti Sanon. The Tribe currently offers virtual and ‘in-studio’ products, which include training workshops and tailor-made nutrition plans.
Now that she is a well-known celebrity, she has signed deals with a large number of companies to be the face of their products. In this article, we will talk about all the advertisements she has done so far.
Kriti Sanon Tv Commercials | Brands endorsed by Kriti Sanon
List of Brands endorsed by Kriti Sanon
Below is the list of brands that have been endorsed by Kriti Sanon:
Fossil
Kriti Sanon has been roped in by the American watches and accessories firm Fossil as its brand ambassador on September 13, 2021. Fossil is an upper-tier brand of watches and accessories that has been a rage in ecommerce websites and stores in India. While onboarding Kriti Sanon, Johnson Verghese, the Managing Director of Fossil Group, India, said, “Kriti’s chic, vibrant fashion sense perfectly expresses her authenticity, aligning with Fossil’s brand ethos and commitment towards being true to oneself.” Here’s the Fossil advertisement where Kriti Sanon is featured along with her Bollywood costar Varun Dhawan, who is also famous for his brand endorsements.
Joy
Kriti Sanon Endorsed brand- Joy | Brand Ambassador of Joy
In 2019, the leading skincare brand Joy hired Kriti Sanon as its brand ambassador with a launch of its Honey and Almond body lotion. Poulomi Roy, Chief Marketing Officer, RSH Global, elaborated on the product marketing, saying, “The Honey and Almond body lotion campaign is centred on the mother brand philosophy of JOY “Beautiful by nature.” This campaign was one of the top viral campaigns that year, which was built around the idea that “consumers are evolving”.
Cadbury Fuse
Cadbury Fuse- Kriti Sanon Endorsed brands
Kriti appeared in a Cadbury Fuse commercial as herself at the beginning of 2018. Kriti does an interview on a talk show in the commercial. Someone on set opens a bag of peanuts, chocolate, and caramel-filled Fuse, which she hears. She sheds all grace, tosses her shoes aside, and dashes to receive a taste of the candy. A Bhojpuri song is going on in the background.
Kriti Sanon endorsed brand- Cadbury Fuse
Parachute Advanced Jasmine
Parachute Jasmine- Kriti Sanon Endorsed brands
For almost four years, Kriti has been the ambassador of this product. On July 28, 2014, she revealed her partnership with Parachute on Twitter. Kriti had a great 2014. After Heropanti’s success, she bagged a lot of projects, and Parachute signed her as the face of its Jasmine line.
Boro Plus
Boro Plus Face Wash – Kriti Sanon Endorsed brands
Boro Plus produced a TV commercial featuring Kriti in the center in October 2017. Boro Plus is an antiseptic cream that is widely used in India and around the world. It is owned by Emami which is an Indian multinational conglomerate based in Kolkata, India.
Bata
Bata – Kriti Sanon Endorsed brands
The goal behind the ad was to expand on the surprise concept of the 2019 TVC, in which Kriti shows how style and comfort can unexpectedly coexist in the new Bata 9 to 9 line. Digital, internet, networking, influencers, retail, print, public, and Bata’s CRM channels are among the campaign’s components.
Magicbricks
Magicbricks – Kriti Sanon Endorsed brands
In August 2019, online real estate company Magicbricks signed Bollywood celebrities Ayushmann Khurrana and Kriti Sanon as endorsers. Given the image they have in the common consciousness as a result of their individual bodies of work, Ayushmann and Kriti’s enormous audience reach and mass appeal fit nicely with the advertising narrative.
Whirlpool
Whirlpool – Kriti Sanon Endorsed brands
In March 2018, Kriti Sanon was seen in an ad film with Sushant Singh Rajput supporting Whirlpool air conditioners. Whirlpool is counted among one of the top 9 consumer durable companies in India 2022, which chose Kriti Sanon and Sushant Singh Rajput as its major endorsers because they have a large following of young people, and Whirlpool wanted to appeal to them.
Vivel
Vivel – Kriti Sanon Endorsed brands
In March 2020, ITC’s personal-care brand Vivel signed Kriti Sanon as its major promotional face. Vivel’s soaps and body washes are advertised by Kriti. Vivel was also one of the first ads in which Kriti Sanon appeared when she first started her career.
When Kriti was not as popular as she is now, she performed a TV advertisement for Himalaya Herbals Oil Balancing Face Wash Gel. Kriti has been in a number of advertisements during her modelling career, and this was one of them.
Way back, when Kriti was not as famous as now, she had appeared in a lot of commercials and one such commercial was for Amul Ice Cream back in 2011.
Kriti sanon endorsed brand- Amul Icecream
LG K10
Kriti performed an ad video for LG Mobile Phones variation – K10 in 2017. Kriti also expressed her excitement to be associated with LG through a tweet to her fans. This brought more attention to the product.
Titan
Titan Raga – Kriti Sanon Endorsed brands
In 2017, Kriti posted on social media and also did an ad to advertise the Titan Raga watch line. Titan has launched a lot of new designs with Kriti as the face of the brand.
Boult Audio
Boult Audio is Indian audio and wearables brand founded by Varun Gupta. Where the most popular Indian wearables and audio brand Boat captured the highest (35.8%) market share of the Indian TWS market in Q3 2021, Boult Audio took the fifth spot for the first time ever, holding 5.3% shares of the same market. Kriti Sanon is recognised as the brand ambassador of this growing brand.
Kriti was seen in an advertisement for Samsung Hero mobile phones alongside Amir Khan over eight years ago.
Conclusion
Kriti Sanon has made a name for herself and is a well-known actress with a long list of achievements. She has a major fan base filled with loyal followers and brands know how profitable it is to hire Kriti to endorse their products. She has done a lot of commercials and has always been a part of big brands’ adverts since her modeling days.
The actor recently took a dive into the trip to Maldives. Featuring in one of the episodes of the famous program along with Bear Grylls, well known for his adventurous personality and inspiring people to connect with nature in “Into the wild” With Ajay Devgan describing his experience as helping him go beyond his comfort zone and explore more.
With roots in Amritsar, born into a Punjabi family on 2nd April in 1969. Ajay Devgan is an Actor, Director, and a producer. Studied at the Silver Beach School, Mumbai, he has earned his degree from the Mithibai College, Mumbai. He made his entry into Bollywood in the 1990s. Many of the movies that he did in the initial stages show him in a more of a romantic light.
A year later, “Phool aur Kaante” earned him recognition, and it was a blockbuster hit. He was awarded with the Best Debut film award. The stunts Devgan did in Phool aur Kaante were used in his other movies as well. For his stunts he took inspiration from his father, Veeru Devgan, a fight master and stuntperson in Bollywood. His mother, Veena Devgan, was a film producer. He has also done many movies with Rohit Shetty including the Golmaal series of Golmaal.
Later Ajay did more romantic movies in 1997 Ishq, 1999 Hum Dil De Chuke Sanam. And many other movies like Dil kya kare, Zakhm, The legend of Bhagat Singh, Bhoot, Kaal, Company, Omkara and more. He has a history of dating the two very well-known actors: Raveena Tandon and Karishma Kapoor, which has put Ajay many times in the spotlight in the news and a lot of media drama.
He married Kajol in 1999. The couple has two children, a daughter, Nysa Devgan, and a son, Yug Devgan.
With the brands tagline “Khoob Jamega Rang Jab Mil Bhaitenge Teen Yaar. Aap, Mein Aur Bagpiper“. Other personalities like Jackie Shroff, Ashok Kumar, Sunny Deol, Shahrukh Khan have also been the brand ambassadors for the whisky brand Bagpiper, whose ideal promise remains providing quality. Bagpiper was established in 1976. Ajay Devgan endorsed the brand in 2006.
Hajmola
Collaborating with Dabur, Ajay Devgan has been featured in various campaigns and TVCs done for Hajmola since 2012. Various line extensions for the digestive pills include Chatpati hing: Khana pachao ding dong ding, Chat Cola, Hajmola Se Pachaoooo, Hajmola Huzoor and more.
Vimal Pan Masala
Till date, this remains one of the immensely controversial ads done by Ajay Devgan. The dilemma started when a fan from Rajasthan, Nanakram, talked about having cancer and circulated almost a thousand pamphlets informing him on his own and family’s use of tobacco.
Another commercial that followed for Vimal where Ajay starred alongside Shahrukh Khan, which again followed with netizens flooding Twitter with memes.
The company signed up Ajay Devgan as their brand ambassador for their Man’s formal category, wanting to shift the company’s focus more towards branding after having a built-up capacity. He did the advertisement in the year 2003, with a T.V. commercial and a print ad with stating “Fashion aata jaata rehta hai par style hamesha ke liye hai”
Whirlpool
The company changed its advertising strategy and decided to make its first ever ad with celebrities as the brand’s endorsers. Ajay featured alongside Kajol in 2006. With their range of products like AC, washing machine, an oven and fridge.
With the slogan “Your magic is homemaking” the other Whirlpool genius highlighted the fridges “the sixth sense” attribute following a fun, light-hearted, and humorous tone.
Sirtex Easy
With the concept following the idea of wearing a Sirtex Easy vest that makes you feel comfortable, easy and relaxed. The brand signed up Ajay for his personality going together with the brand of being cool and casual. Furthermore, being in synergy with the type of audience, product, and the brand associates Ajay Devgan with.
VKC Pride
The 2010 ad featuring Ajay Devgan, begins with Ajay inquiring three different characters on how their slippers were stolen. The ad has a playful, funny tone. Until the senior officer comes and scolds Ajay and orders him to find the slippers thief soon.
Ajay goes on into the temple praying to crack the case, when one of his partners from the police station comes and informs him about the commonality of the slippers that are being stolen.
Which narrows down to they all belong to the same brand that is VKC Pride and his partner discovers that even Ajay’s slippers end up being stolen. Concluding with the tagline of the voice-over following “Kabhi bhi chori ho sakta hai, VKC pride, khub chalega. Magar sambhal ke rakhna”
