Concepcion Midea Inc., a joint venture between the Concepcion Group of Companies and Midea of China, plans to double sales in 2015 to P700 million amid the increasing purchasing power of the middle class.
Concepcion Midea general manager Phillip Trapaga said the company posted impressive sales in 2014 despite the start of the operations just in May.
“We’re shy of one year selling our products but we did good last year. We’re expecting better sales this year, at most doubling our performance from 2014,” he said in a press briefing Wednesday in Makati City.
The company will be completing its line of white products, including the cost-effective inverter technology refrigerator and the new variable refrigerant flow airconditioners, as well as large and small kitchen appliances line-up.
The sales target if the company in 2015 is about less than 1 percent of the country’s P76.8-billion cooling and kitchen appliances market.
The companyplans to improve as one of the top three providers of consumer products in the next five years.
“We know that it will not happen overnight, but we are one of the most affordable brands with high regard for quality and durability,” Trapaga said.
The company has introduced cooling systems from window type to split type airconditioners. It plans to introduce this year floor standing, under ceiling and cassette type airconditioners.
