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De' Longhi

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De'Longhi S.p.A.
Company typePublic
BIT:DLG
IndustryHome appliances
Founded1902;122 years ago(1902)
Headquarters
Treviso
,
Italy
Area served
Worldwide
Key people
Giuseppe De'Longhi(Chairman)
Fabio De'Longhi(Vice Chairman) and (Chief Executive Officer)
ProductsHeaters,air conditioners,vacuum cleaners,espresso machines,kitchen appliancesandsmall appliances
Revenue€2351.3million (2020)[1]
Number of employees
9000(2020)[1]
Websitewww.delonghigroup.com

De'LonghiS.p.A.(Italian pronunciation:[deˈloŋɡi];stylized asDēLonghi) is an Italiansmall appliancemanufacturer based inTreviso,Italy.[2]

History and trading

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The company was founded by the De'Longhi family in 1902 as a small industrial parts manufacturing workshop.[3]The company incorporated in 1950.[4]Historically a major producer of portable heaters and air conditioners, the company has expanded to include nearly every category of small domestic appliances in the food preparation and cooking, as well as household cleaning and ironing, segments.[5]

Products

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De'Longhi is especially well known for the Artista Seriesespresso machines,the De'Longhigelatomaker as well as the Pinguino portableair conditioner.

De'Longhi is known for the design of its products. Its Esclusivo line of kitchen appliances won theRed Dotdesign award in 2007.[6]Home Furnishing Newsrecognized the firm's Design Director Giocomo Borin[7]as one of the 50 most influential designers in the world in 2006.[8]

De'Longhi's 2000 acquisition ofClimavenetaS.p.A. and DLRadiators allowed De'Longhi to enter the commercialHVACR(heating, ventilation, air conditioning and refrigeration) market.

Merger and acquisitions

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Its acquisition of the British appliance makerKenwoodfor £45.9 million[9](about $66.7 million) in 2001 gave it access to Kenwood's Chinese factory. As a result, many of De'Longhi's products are now imported fromChina,while design and engineering remain largely in Italy.

Acquisition of a majority stake in RC Group, a leading player indatacenter cooling,in 2006 has strengthened its presence in the HVACR market.[10]

In all, the company operates 13 production facilities and 30 international subsidiaries that support sales to 75 countries worldwide. International sales account for nearly 75 percent of the group's total revenues, which topped€1.63 billion in 2010.

On 2 January 2012 theDeLclimagroup was set up as a demerger from De'Longhi.[11]

On 16 April 2012, De'Longhi bought perpetual rights to manufactureBraunbranded products fromProcter & Gamblein the small appliance segment. Procter & Gamble will continue to own the Braun brand. €50 million was paid immediately and €90 million will be paid over the next 15 years.[2]

In 2018, India-based Orient Electric partnered with De'Longhi to market small kitchen appliances in India.[12]

In November 2020, De'Longhi announced the acquisition of Capital Brands, which specialized in mixers for 420 million euros.[13]

Public trading

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Shares in the company are traded onMilan's stock exchangeunder the ticker symbol DLG. Revenues have steadily increased to nearly double the revenue from 2014. In 2022, revenue was€3,160,000,000.[14][15]

In October 2017, theAsthma and Allergy Foundation of Americaand Allergy Standards Limited announced that five De'Longhi dehumidifiers have earned theAsthma and Allergy FriendlyCertification. These are the first dehumidifiers to receive the program's mark.[16]

See also

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References

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  1. ^ab"Corporate Investor Relations and Highlights".De'Longhi Group.Archived fromthe originalon 1 July 2015.Retrieved11 March2021.
  2. ^ab"Italy's De'Longhi buys Braun brand license".Reuters. 16 April 2012.Retrieved6 October2012.
  3. ^"Giuseppe De'Longhi & family".Forbes.
  4. ^Spinosa, Nicola (1990).El Arte de la corte de Nápoles en el siglo XVIII: Museo Arqueológico Nacional, Madrid, 7 marzo-6 mayo 1990(in Spanish). Ministerio de Cultura, Dirección General de Bellas Artes y Archivos, Centro Nacional de Exposiciones.ISBN978-84-7483-611-0.
  5. ^"De'Longhi Group forms strategic partnership with Orient Electric in India".www.punekarnews.in.
  6. ^Falson, Sarah (6 March 2007)."De'Longhi's Esclusivo range wins two international design gongs".applianceretailer.com.au.Archivedfrom the original on 2 April 2015.Retrieved10 February2017.
  7. ^"De'Longhi PrimaDonna Class".Good Design.
  8. ^"Italy's De'Longhi uses its in-house moulding to deliver designer brewing systems".Plastics News.17 March 2016.
  9. ^White, Dominic (17 February 2001)."Kenwood cooks up a £45.9m deal with Italy's De'Longhi".The Daily Telegraph.ISSN0307-1235.Retrieved25 January2016.
  10. ^"De Longhi America Inc - Company Profile and News".Bloomberg.com.
  11. ^"Mitsubishi Electric Enters into Agreement to Acquire Majority Interest in DeLclima".www.automotiveworld.com.
  12. ^"Orient Electric partners Italy's De'Longhi Group to market small kitchen applian".Economic Times.
  13. ^"Italy's De' Longhi to buy U.S. blender maker Capital Brands".Reuters.23 November 2020.Retrieved15 May2022.
  14. ^Szostech, Michael (4 August 2023)."De'Longhi TrueBrew Coffee Maker".Canada Reviewed.Retrieved4 August2023.
  15. ^"Equities De' Longhi SpA".Financial Times.
  16. ^"Reducing Humidity Creates Healthier Homes for Those With Asthma and Allergies"(Press release). GlobeNewswire. 16 October 2017.
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