The kitchen appliance industry ushered in a recovery momentum in the first three quarters of 2023, benefiting from various favorable policies and a rebound in consumption. Among the many kitchen appliance brands, Vantage has become the representative of the "three good students" of kitchen appliances with its excellent financial performance and market competitiveness.
According to statistics, in the first three quarters of 2023, the total revenue of the eight listed kitchen appliance companies reached 2466.5 billion yuan, an increase of 286%；Net profit attributable to the parent company was 336.2 billion yuan, an increase of 1293%。Among them, the operating income of Vantage shares was 443.1 billion yuan, an increase of 403%；Net profit was 3600 million yuan, an increase of 28 percent year-on-year16%。Especially in the third quarter, Vantage's operating income and net profit increased by 6% year-on-year56% and 15155%, making an important contribution to the recovery of the industry.
The reason why Vantage has been able to achieve such excellent results is inseparable from its deep insight into user needs and continuous innovation of brand strategy. Vantage has always adhered to the route of high-end brand, created fashionable and scientific kitchen appliances, and met the beautiful imagination of contemporary young people for the kitchen.
In 2022, Vantage took the lead in the industry to put forward the "easy to use, good-looking, and clean" three-good kitchen appliance standard, and built a new generation of ideal kitchens for users through the perfect combination of technology, aesthetics and quality. At the same time, Vantage Co., Ltd. also cooperated with the China Household Appliance Institute to release the "Three Good Products" of China's Kitchen Heating Appliances, which clarified the three components of Xinyi's kitchen appliances and led the development direction of the industry.
In September 2023, Vantage further deepened the strategy of "good cleaning" at the brand launch conference of "Millennium Fireworks, Clean Future", and pioneered the "Clean Kitchen System", creating a new "Clean Kitchen" for users from the three levels of product, space and senses, meeting the user's ultimate pursuit of space beauty and environmental beauty in the kitchen.
It is worth mentioning that at the 2023 Chinese Habitat "Wisdom, Clean, Beauty and Comfortable Living Space Trend" Forum held recently, the "2023 Chinese Habitat Wisdom, Clean, Beauty and Comfortable Living Space Trend Research" report was released, pointing out the three major development trends of the home appliance industry in the future, namely "intelligence and comfort", "home appliance aesthetics" and "clean feeling". This is highly consistent with the concept of "Three Good Kitchen Appliance Standards" proposed by Vantage in 2022 and "Clean Kitchen System" proposed in 2023, showing Vantage's advanced vision in market insight.
Yao Yong, director of the product management center of Vantage, said: "Today's consumers' requirements for home kitchens are not only functional and professional, but also fashionable and worry-free. On this basis, we have put forward the triple 'net' world, and the direction of 'wisdom, net, and beauty' is completely consistent with the direction of Vantage's efforts. ”
Vantage's strategic change and product innovation aim to find new market increments. Facts have proved that the reform and innovation of Vantage shares have effectively grasped the core needs of users, conformed to the trend of the industry, and significantly improved its market competitiveness, and its financial performance has fully verified this.
In the context of the upgrading of the entire industry to high-end, kitchen appliance enterprises are developing towards "high". With the brand strategy as the core, Vantage has comprehensively improved its product strength and provided a strong impetus for the double growth of revenue and profit.
In the first three quarters of this year, Vantage Co., Ltd. launched a series of high-end kitchen appliances, such as integrated cooking centers, close-up cabinet hoods, Juneng dishwashers, water heaters for people's baths, etcThe new products of the "Pure White Series" at the 2023 Vantage brand launch conference include a net cube new oxygen smoke machine, an integrated cooking center, a steaming and baking machine, a mandarin duck integrated stove, a gas water heater, etc. The launch of these new products not only further enhanced the product strength of Vantage, but also laid a solid foundation for the double growth of revenue and profit.
Taking Vantage's "pure white series" as an example, it uses moonlight white as the main color and white kitchen appliances as the classic color matching, with a simple and fashionable appearance, which can be integrated with a variety of home styles, and is loved by many young consumers.
As a new achievement of Vantage's "home integration" strategy, Vantage's integrated cooking center not only does "addition" for the kitchen scene, but also does more "subtraction" for the kitchen scene, opening a new era of ritual life. Through the functional integration of "one-meter space seven-in-one", intelligent linkage, a new generation of V-Cleanmax easy-to-clean system and other hard-core technologies and the design language of Vantage, the organic integration of cabinets and kitchen appliances has been realized, creating a high-end, fashionable, high-tech, and young kitchen ecology.
Driven by brand strategy and product innovation, Vantage has maintained a leading position in market competition and achieved high-quality development. This not only helps to increase the profitability of the company, but also lays a solid foundation for sustainable development in the future. In the future, Vantage will adhere to the user-centric, actively promote brand strategic reform and product innovation and research and development, bring users a higher quality of life experience, and continue to promote the high-quality development of the industry.