Artel will start supplying its home appliances to Russia

The company can take up to 5% of the Russian household appliances market within two years "with the right strategy," experts noted

M.Video-Eldorado Group and Artel Electronics LLC entered into an exclusive contract for the supply of household appliances to Russia. This was reported by the Kommersant newspaper with reference to the retailer.

It is noted that the first to go on sale during July-August will be refrigerators, freezers, washing machines, TVs, stoves, vacuum cleaners and air conditioners, mainly from the middle price range. By the end of the year, it is planned to expand the assortment to 100 items in 16 product categories.

Artel produces more than 4 million units of equipment per year at six factories in Uzbekistan for the domestic market and export to the CIS countries, the Middle East and North Africa. It acts as a regional partner of Samsung, Shivaki, Viessmann.

In the category of refrigeration equipment and stoves, the Uzbek manufacturer may well squeeze out competitors, believes Alexey Pogudalov, commercial director of Holodilnik.ru. According to him, Artel can take from 3% to 5% of the Russian home appliances market within two years "with the right strategy."

Let us add that, according to the press service of Artel, on July 6, Fitch Ratings confirmed the long-term rating of the company at 'B' with a stable outlook.

The strengths of the rating in the report are its market-leading position, which provides strong revenue visibility and should support moderate operating cash flow.

Recall that Fitch Ratings first assigned a rating to Artel Electronics LLC in July 2021. Then Artel became the first private manufacturing company in Uzbekistan to be rated by one of the Big Three international rating agencies.