Cheap VCs boost Electrolux sales

Electrolux Romania, the local branch of the Swedish home appliances manufacturer has announced a 75% increase in its sales of vacuum cleaners in the first ten months of this year. “We did not have a mass product in our portfolio until now. The introduction of such a product led to an increase of 75% in quantitative sales,” stated Carmen Georgescu, Electrolux”s marketing manager. The official did not care to specify how many units were sold in the first ten months of the year. Market estimates were putting total sales of vacuum cleaners at more than 300,000 units last year, as this is a home appliance that has a much lower penetration rate compared with refrigeration equipment or washing machines. Six months into the year, Electrolux Romania had posted 46 million euros in turnover, up 21% on the same time last year. ZF