Key Stats
- Founded: August 1, 1919 in Stockholm, Sweden
- 2024 Revenue: SEK 136.15 billion (approximately $12.83 billion USD)
- Employees: 41,000 worldwide as of 2024
- Market Cap: SEK 17 billion (approximately $1.6 billion USD)
- Products Sold: 60 million household appliances annually across 120 markets
Electrolux AB stands as the world’s second-largest home appliance manufacturer by units sold. The Swedish multinational designs, manufactures, and sells refrigerators, washing machines, dishwashers, ovens, vacuum cleaners, and small kitchen appliances through brands including Electrolux, AEG, Frigidaire, Zanussi, and Westinghouse.
The company operates three regional business segments covering North America, Latin America, and Europe combined with Asia-Pacific, Middle East and Africa. Electrolux products reach consumers through retailers, buying groups, and direct sales channels across the globe.
Headquartered in Stockholm, Electrolux trades on the NASDAQ OMX Nordic Market under the ticker ELUX. The company employs approximately 41,000 people and maintains manufacturing facilities across multiple continents.
Electrolux AB History
The origins of Electrolux trace back to two Swedish companies that merged in 1919. Lux AB manufactured kerosene lamps while Elektromekaniska AB produced vacuum cleaners. A young salesman named Axel Wenner-Gren spotted an opportunity in home cleaning technology and built one of the first global appliance brands.
Electrolux AB Co-founders
Swedish entrepreneur who transformed a cumbersome industrial vacuum cleaner into a lightweight home appliance. Wenner-Gren’s door-to-door sales techniques and marketing innovations built Electrolux into a global brand by the 1930s.
Engineer who formed Elektromekaniska AB in 1910 to manufacture vacuum cleaner motors. Carlstedt collaborated with Wenner-Gren on lighter vacuum designs that became the foundation for the Electrolux product line.
Electrolux AB Competitors
The global household appliance market features intense competition from manufacturers across Asia, Europe, and North America. Chinese companies lead by revenue while European brands compete on innovation and premium positioning.
| Company | Headquarters | Key Products |
|---|---|---|
| Whirlpool Corporation | Benton Harbor, USA | Refrigerators, Washers, Ovens |
| Haier Smart Home | Qingdao, China | Full Appliance Range, Smart Home |
| LG Electronics | Seoul, South Korea | TVs, Washers, Refrigerators |
| Samsung Electronics | Suwon, South Korea | Smart Appliances, Kitchen Products |
| BSH Home Appliances | Munich, Germany | Bosch and Siemens Appliances |
| Midea Group | Foshan, China | Air Conditioners, Kitchen Appliances |
| Panasonic Corporation | Osaka, Japan | Consumer Electronics, Appliances |
| Miele & Cie. KG | Gutersloh, Germany | Premium Washers, Vacuum Cleaners |
| GE Appliances (Haier) | Louisville, USA | Kitchen and Laundry Appliances |
| Breville Group | Sydney, Australia | Small Kitchen Appliances |
Electrolux AB Revenue
Electrolux generates revenue primarily from kitchen products including refrigerators, ovens, and dishwashers. Laundry products and small appliances contribute additional sales across regional markets.
The company reported SEK 136.15 billion in net sales for 2024, representing a 1.26% increase from 2023. North America and Europe together account for more than half of total revenue.
Electrolux AB Marketcap
Electrolux trades on the NASDAQ OMX Nordic Market with shares denominated in Swedish kronor. Market capitalization fluctuated significantly over the past decade as the appliance industry faced supply chain challenges and shifting consumer demand.
The current market cap stands at approximately SEK 17 billion following recovery efforts under new leadership. Investor confidence remains tied to cost reduction initiatives and product innovation strategies.
Electrolux AB Acquisitions
Electrolux built its global presence through strategic acquisitions spanning more than a century. The company purchased brands, manufacturing facilities, and technology capabilities to expand its product portfolio and geographic reach.
The 1960s marked a turning point for acquisition activity. Electrolux acquired ElektroHelios in 1962 for refrigerators and freezers, followed by Norwegian Elektra, Danish Atlas, Finnish Slev, and British lawn mower maker Flymo. This pattern of growth through acquisition continued for decades.
In 1974, Electrolux returned to the American market by acquiring Eureka-Williams, one of the oldest vacuum cleaner brands in the United States. The company used the Eureka brand for North American vacuum sales until 2004 when it regained rights to use its own name from Aerus LLC.
The 2011 acquisition of CTI from Sigdo Koppers strengthened the Latin American business. This Chilean appliance manufacturer brought the Fensa, Gafa, Mademsa, and Somela brands into the Electrolux portfolio, making Electrolux one of the largest appliance producers in South America.
One notable deal that did not complete was the proposed $3.3 billion acquisition of GE Appliances in 2015. The U.S. Department of Justice challenged the transaction on antitrust grounds, and after a four-week trial, Electrolux and GE abandoned the deal. Haier later acquired GE Appliances in 2016.
Recent acquisitions focus on professional products and specialized equipment. In 2024, Electrolux Professional acquired TOSEI Corporation, a Japanese manufacturer of commercial laundry equipment, and Adventys, a French induction cooking specialist. These purchases align with the strategy to strengthen high-margin professional segments.
FAQs
When was Electrolux founded?
Electrolux was founded on August 1, 1919, in Stockholm, Sweden, through the merger of Lux AB and Svenska Elektron AB by entrepreneur Axel Wenner-Gren.
What products does Electrolux manufacture?
Electrolux manufactures refrigerators, freezers, washing machines, dryers, dishwashers, ovens, cooktops, vacuum cleaners, and small kitchen appliances for household and professional use.
Who founded Electrolux?
Axel Wenner-Gren founded Electrolux by merging vacuum cleaner and lamp companies. Engineer Sven Carlstedt contributed motor technology that enabled the lightweight vacuum designs.
Where is Electrolux headquartered?
Electrolux maintains its global headquarters at St. Goransgatan 143 in Stockholm, Sweden. The company operates manufacturing and sales facilities across multiple continents.
What brands does Electrolux own?
Electrolux owns Electrolux, AEG, Frigidaire, Zanussi, Westinghouse, Anova, and numerous regional brands including Fensa in Chile and Gafa in Argentina.