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Daewoo Elec wins best brand award from Alibaba Group

2018.09.04 14:05:18
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[Photo provided by Daewoo Electronics Co.]

[Photo provided by Daewoo Electronics Co.]

Daewoo Electronics Co., the electronics unit of South Korea’s Dayou Group, said Tuesday it has won a best brand award from China’s e-commerce giant Alibaba Group.

Nine winners were named among Alibaba suppliers based on the results of reviews on their sales, customer response and brand awareness. Daewoo Electronics said its winning largely owed to its mini-sized wall-mounted front-loading washer Mini. The Mini released in China in 2013 was named as one of the top 10 leading products in the country by market research firm Beijing Zhongyikang Shidai Market Research in 2015. It also put its name on the top 100 list at China’s Design Intelligence Award last year for the first time among Korean home appliances. Its sales in China hit a record high during China’s annual Singles’ Day this year, the holiday emerging as a popular shopping date for Chinese shoppers, since it entered the market.

The Mini currently dominates a 64.6 percent share in the 3-kg or below washer market in China.

Daewoo Electronics established in 1974 had been a formidable home appliance maker after Samsung and LG until the parent group went bankrupt in early 2000. It went under a new owner Dongbu Group in 2013 and then became a Dayou family this year. It has factories in foreign countries including France, Poland and Myanmar with downmarket appeal in emerging markets.

By Chun Gyung-woon and Lee Ha-yeon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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