Hisense soars in British market
Chinese electronics giant Hisense Group has been included in the list of the United Kingdom's 30 fastest growing Chinese companies, which was recently released by China Chamber of Commerce UK and Grant Thornton LLP.
Hisense has gained considerable market performance and is becoming a well-known brand among British consumers, said Huang Peng, general manager of Hisense UK, adding that in the future, its advantages in the British market will continue to expand.
Hisense logo flashes on a billboard lining the pitch during a Euro 2020 match. [Photo provided to China Daily]
Hisense has grown into a truly multinational company by promoting the "going out" strategy. Its internationalization is expanding fast, especially the growth rate of overseas revenue.
In 2021, Hisense UK's revenue reached £210 million (about $277.53 million), up 43 percent from the previous year, and continued to maintain a high double-digit growth trend. Its fridges and televisions accounted for 10 percent and 4.3 percent, respectively, of the consumer product market in the UK.
As China's leading overseas brand, Hisense has unique product advantages and wide product coverage to provide users with a full range of integrated family solutions, Huang noted, adding that Hisense UK has built an efficient local team, with less than 10 Chinese expatriates among its 67 employees.
Huang said that Hisense has a solid channel relationship in the UK, and has established deep strategic cooperation with its three major partners AO, Currys and Argos. After great efforts, Hisense has gained recognition and trust from mainstream channel providers in the UK.
"Though nearly 70 percent of our sales are conducted online, we still value building brand equity offline. We hope to provide the latest on-site product experience and the best service to British consumers in more offline stores in the future," Huang said.