West Coast New Area

Hisense expands global market

( | 2023-10-23


Chinese home appliance giant Hisense Group. [Photo/IC]

Hisense initiated its overseas trade in 1985 and formally established its globalization strategy in 2006.

Over the past three decades, Hisense has pursued the "Local for Local" approach, embracing a strategy of transplanting its management practices while respecting local cultures. This approach has enabled Hisense to complete its international mergers and acquisitions, and establish a multi-brand matrix that includes brands like Hisense, Toshiba TV, Gorenje, ASKO which cover a comprehensive range of product categories.

Hisense's global expansion under the Belt and Road Initiative (BRI) is noteworthy as the company's overseas operations, including agents, can be found in 126 out of the 152 BRI countries. Within these markets, Hisense has set up 10 industrial parks, production bases, and three R&D centers. Hisense products are highly popular in BRI countries and are ranked among the top three in numerous markets.

Hisense's foray into global markets started in South Africa in 1996. The company currently exports products to over 10 African and European countries. Remarkably, Hisense's TV sales are ranked first, and its refrigerator sales are ranked second. This venture has contributed to the creation of approximately 1,000 job opportunities in the country.

Established in 2012, Hisense Dubai is today one of the fastest-growing home appliance brands in the UAE, where it has increased its brand equity by an impressive 154 percent over the past five years.

Hisense's acquisition of Gorenje, Slovenia's largest home appliance company, has enabled the establishment of a comprehensive R&D, production, and marketing system in the European market.

Furthermore, in 2022, Hisense invested over 40 million euros ($42.49 million) to build a refrigerator factory in Valjevo, Serbia.

Hisense Russia, established in 2017, not only covers Russia but also 10 surrounding countries. Over the past five years, Hisense's brand equity in the region has skyrocketed by a staggering 733 percent.

In 2016, Hisense Thailand was founded. This branch utilizes an omni-channel model and offers a full range of products. Hisense currently has over 100 sales outlets and a production base in Thailand.

Hisense Indonesia, which was established in 2014, has a business scope ranging from 2C to 2B. The branch has established 107 service outlets across the country and more than 100 high-quality customers.

Over the past decade, Hisense has played a significant role in exporting high-quality technology and products to BRI-related countries, significantly contributing to the development and upgrading of local manufacturing and supporting industries in these countries.