Turkish home appliances manufacturer Arçelik announced Thursday a major shift as the company said it would continue its global operations under the corporate brand name Beko, according to a statement published at the Public Disclosure Platform (KAP).
The decision was taken within the scope of the company’s globalization strategy, it said in the statement, adding that the aim is to bring together employees and operations all over the world under a common corporate brand.
"As part of our globalization strategy, Arçelik A.Ş. will henceforth use the corporate brand name Beko across all geographies, including Türkiye, with the aim of bringing together all our employees and operations worldwide under a common corporate brand umbrella."
"In this context, the corporate names of our foreign subsidiaries are being changed to include the Beko corporate brand," it added.
"Our company will continue its activities in Türkiye through Arçelik Pazarlama A.Ş. under local value-creating brands (Arçelik, Beko, Grundig, Altus, Leisure)," it said.
One of Türkiye's leading home technology companies with a history spanning nearly 70 years, Arçelik (Beko) continues its operations with 121 subsidiaries in 57 countries, 22 brands and 55,000 employees.
The company in a statement to the public on Thursday noted that the legal name of the publicly traded company is Arçelik A.Ş., emphasizing that in Türkiye, the legal entity Arçelik A.Ş., and its Turkish subsidiary Arçelik Pazarlama A.Ş. (Arçelik Türkiye) will continue their activities as before.
It explained that the transformation aims to change the names of subsidiaries established under different names globally to Beko. This transformation only covers the corporate brand, that is, the company brand, and "will not affect our 22 consumer brands worldwide," it stated.
