Arcelik, Turkey's biggest home appliances maker, has opened its first Beko brand representative office in Hungary, regional director Orhan Sayman announced in Budapest on Wednesday.
Arcelik aims to control 3% of Hungary's home appliance market with the Beko brand by the end of 2006 and 10% by 2009, Sayman said. To reach the 10% target, the Beko shop will have to sell 16,000 stoves, 35,000 refrigerators, 6,000 dishwashers, 26,000 washing machines and 5,000 built-in products in 2009, according to Tamás László, who heads the shop.
About 900,000 home appliances are sold in Hungary each year with an average price of €240 (Ft 64,500).
Arcelik is already present in 100 countries and aims to make Beko one of the world's leading home appliance brands by 2010. Last year Arcelik had revenue of €3.1 billion. In 2006, it targets revenue of €3.5 billion.