Struggling Swedish appliance Company are getting set to drop Chef, after dropping Dishlex and Simpson brands, according to sources.
The Sydney-based business is already struggling with losing key people and falling revenues.
ChannelNews understands that retailers have been approached to ascertain whether increased Westinghouse sales could replace lost Chef sales.
According to ChannelNews sources, the business is looking to slash not only brands but also certain products out of the Electrolux portfolio.
Last week, it exclusively revealed the exit of several key management who told ChannelNews that they had “become disillusioned” with management and the brand’s direction, especially in the cooking market.
Speculation is that Chinese appliance Company Midea Group, who recently set up an office in Collins Street in Melbourne, is back talking to Electrolux AB management, who recently axed their Asia Pacific operation in Singapore.
ChannelNews has been told that the group is still keen to acquire the business except Westinghouse due to problems in the USA due to them being a major Chinese entity and growing protectionist measures by both the EU and the USA.
Midea made a preliminary approach in April 2023 to the white goods manufacturer about a possible deal.
Another Company that has run a ruler over Electrolux is Samsung Electronics, which is trying to launch a cooking brand in Australia via Harvey Norman and The Good Guys.
Midea and Electrolux already have some partnerships, and in 2018, they launched the high-end AEG brand in China together.
Key to any deal would be getting the support from the billionaire Wallenberg family’s Investor AB, who hold 13.5% of the shares in Electrolux, and a deed that gives them 33% of voting rights.
CN understands that while several Electrolux managements were open to a deal, the Wallenberg family rejected any deal.