Beko

Turkish brand of home appliances

For other uses, see Beko (disambiguation).

Beko Elektronik

Company type| Anonim Şirket
Industry| Major appliances
Small appliances
Electronics
Technology
Founded| 1955; 70 years ago (1955) in Istanbul, Turkey
Founders|

* Vehbi Koç
* Leon Bejerano

Fate| Merged with its parent company
Headquarters| Istanbul, Turkey

Area served

| Worldwide
Revenue|  €12.085 billion (2024)[1]

Operating income

|  €162 million (2024)[1]

Net income

|  €62 million (2024)[1]
Total assets|  €11.216 billion (2024)[1]
Owner| Arçelik A.Ş.
Parent| Koç Holding
Website| www.beko.com

Beko (/ˈbɛkoʊ/ BEK-oh; stylized as beko) is a Turkish white goods and electronics brand of Arçelik A.Ş., which is controlled by the Koç Holding conglomerate.[2]

## History

[edit]

Beko Elektronik A.Ş. was founded by Vehbi Koç, the founder of Koç Holding (who also founded Arçelik A.Ş. in 1955, which is currently the parent company of Beko, Grundig and Indesit as of 2022), and Leon Bejerano in Istanbul, Turkey, in 1954. The company's name is a combination of the first two letters of the founders' surnames, Bejerano and Koç.

In 2004, Beko Elektronik purchased the German electronics company Grundig and by January 2005, Beko and its rival, Turkish electronics and white goods brand Vestel, accounted for more than half of all TV sets manufactured in Europe.[3]

In April 2010, the electronics division of Beko renamed itself Grundig Elektronik A.Ş.[4]

At the Extraordinary General Shareholders Meeting of Arçelik A.Ş. on 29 June 2009, it was decided to merge Arçelik A.Ş. with the company's subsidiary, Grundig Elektronik A.Ş. (to be administered directly by Arçelik A.Ş. of Koç Holding) by taking over all of Grundig's assets and liabilities as a whole.[5]

Beko started selling its products in Egypt in 2014[6] and, in June of that year, the company updated its logo.[7]

In India, Beko formed a joint venture with Tata Group subsidiary Voltas in 2017 to produce home appliances like TVs, dishwashers, washing machines, under "Voltas Beko" brand.[8]

## Products

[edit]

A Beko washing machine, which has 1200 RPM spin and A rating

Beko is a budget brand name in some countries and continues to be in use for a number of Arçelik A.Ş. products such as television sets,[9] refrigerators, washing machines and dishwashers, in several countries.[10]

## Incidents

[edit]

Some Beko products have posed a safety risk to consumers who have bought them. In 2016, Mishell Moloney was found dead due to a fault with a Beko drying machine that had caught fire.[11] Beko tried to claim that the fault that led to Moloney's death was a 'tragic and isolated incident.'[12] However, the DCS 85W drying machine which was used by Moloney was already responsible for some twenty fires in the UK. Beko quality control chief, Andrew Mullin, also revealed that the smaller models in the range, had already been recalled due to hundreds of safety incidents.[13]

## Sponsorships

[edit]

Beko has been the official sponsor of the Turkish, Italian and Lithuanian premier basketball leagues, as well as the 2014 FIBA Basketball World Cup in Spain.[14] Beko is a partner of the Spanish football club FC Barcelona[15] since 2014 and Turkish football club Beşiktaş JK[16] (having previously been their shirt sponsor from 1988 to 2004[17]) and Turkmen football club FC HTTU.[18] Furthermore, it had been one of the largest advertisers in the English Premier League since 2008,[19] and an official sponsor of the FA Cup.[20] Beko sponsored Millwall F.C. in the 2005–06 season.[21]

Between 2016 and 2020, Beko was the main sponsor of Netball New Zealand's National Netball League.[22][23]

Beko is a premier sponsor of Volley Lube.[24]

## Former logos

[edit]

* Beko logo (1955–1986)

* Logo (1986–1993)

* Logo (1993–2014)

## Arçelik and Whirlpool Form Beko Europe in Landmark Joint Venture

[edit]

Istanbul, Turkey and Benton Harbor, Michigan – Turkish industrial conglomerate Koç Holding's subsidiary, Arçelik, has finalized a significant agreement with American appliance manufacturer Whirlpool Corporation to merge their European major domestic appliance operations. The deal has led to the creation of a new entity, Beko Europe B.V., which is set to become a dominant player in the European home appliance market.

Under the terms of the transaction, which closed in the second half of 2023, Arçelik contributed its major domestic appliance, consumer electronics, air conditioning, and small domestic appliance businesses, while Whirlpool contributed its European major domestic appliance business. Arçelik, through its wholly-owned subsidiary Ardutch B.V., holds a 75% majority stake in the newly formed company, with Whirlpool retaining the remaining 25%.

The new venture brings together a wide portfolio of well-known brands. Arçelik's brands include Beko, Grundig, Altus, Blomberg, and Leisure, while Whirlpool's European brands such as Indesit, Hotpoint, Ignis, Privileg, and Bauknecht are also part of the new company. Beko Europe will have the rights to produce and sell products under the Whirlpool brand name in Europe for a period of 40 years.

This strategic partnership is expected to create significant synergies, combining the manufacturing expertise, supply chains, and distribution networks of both companies. The new entity is projected to have a combined annual production capacity of approximately 24 million white goods products and will employ over 20,000 people across its various European locations.

Marc Bitzer, Chairman and CEO of Whirlpool Corporation, stated that the move is a key step in Whirlpool's portfolio transformation, allowing the company to focus on its businesses in the Americas and Asia. For Arçelik, a part of the expansive Koç Holding, the deal represents a major expansion of its footprint in the European market. Hakan Bulgurlu, CEO of Arçelik, highlighted the opportunity for growth and innovation that the combined strengths of the two companies will bring to European consumers.

The transaction received regulatory approval from antitrust authorities, including the UK's Competition and Markets Authority, before its finalization. The headquarters of Beko Europe will be located in the Netherlands.

## References

[edit]

1. ^ a b c d "2024 annual report" (PDF). www.bekocorporate.com.
2. ^ "Arçelik A.Ş.: Brands". Archived from the original on 23 October 2020. Retrieved 30 June 2012.
3. ^ Boulden, Jim (17 January 2005). "Turkey switches on to TV market". CNN. Retrieved 21 November 2011.
4. ^ "Koç Holding A.Ş. – Board of Directors' Report – Annual Report 2008" (PDF). Koç Holding. Archived from the original (PDF) on 12 October 2016. Retrieved 13 June 2012.
5. ^ "Annual Report 2009" (PDF). Arçelik A.Ş. Archived from the original (PDF) on 23 December 2018. Retrieved 13 June 2012.
6. ^ "U.S. And Global Refrigerated Air Dryers April 2019 U.S. And Global In-Depth Analysis by Key Players, Type and Applications Forecast to 2026 – Worldwide Market". Archived from the original on 6 May 2019. Retrieved 6 May 2019.
7. ^ "FC Barcelona and Beko sign global sponsorship agreement". FC Barcelona. 30 June 2014. Archived from the original on 19 May 2016.
8. ^ "Voltas to enter home appliances market, forms joint venture with Arcelik". Mint. 24 May 2017. Retrieved 5 May 2024.
9. ^ "Beko Türkiye: LED Televizyonlar". Archived from the original on 26 June 2012. Retrieved 30 June 2012.
10. ^ "Beko Brands". beko.co.uk. Retrieved 21 June 2012.
11. ^ "Defective tumble dryer blamed for fatal fire in Birmingham". The Guardian. Press Association. 8 August 2016. ISSN 0261-3077. Retrieved 21 July 2019.
12. ^ Smithers, Rebecca (30 May 2017). "Beko issues tumble dryers safety alert over fire risk concerns". The Guardian. ISSN 0261-3077. Retrieved 21 July 2019.
13. ^ "Defective tumble dryer blamed for fatal fire in Birmingham". The Guardian. Press Association. 8 August 2016. ISSN 0261-3077. Retrieved 21 July 2019.
14. ^ "FIBA and Beko sign global partnership leading up to 2014 Basketball World Cup". FIBA. Archived from the original on 16 February 2018.
15. ^ "FC Barcelona extends sponsorship agreement with Beko". FC Barcelona. Retrieved 15 February 2018.
16. ^ "Beşiktaş Beko ile imzaladı" (in Turkish). Fanatik. 26 December 2013.
17. ^ Lim, Eleanor (12 November 2021). "Shifting the goalposts: how Beko used Reels to connect with Turkish football fans". The Drum. Retrieved 13 December 2023.
18. ^ "4 ýyldan soň 4-nji çempionlyk" (in Turkmen). Zaman Turkmenistan. 7 December 2013. Archived from the original on 8 December 2013.
19. ^ Long, Michael (21 October 2011). "Beko teams up with The Football League". SportsPro.
20. ^ "Arçelik A.Ş.: "Beko becomes a sponsor to the oldest football cup in the world"". Archived from the original on 6 August 2020. Retrieved 14 September 2014.
21. ^ Sanders, Jake (17 March 2020). "QUIZ: Can you name every Millwall front-of-shirt sponsor from the last 15 seasons?". Football League World. Archived from the original on 14 July 2021. Retrieved 14 July 2021.
22. ^ "Global brand Beko joins forces with new National Netball League". netballnz.co.nz. 24 February 2016. Archived from the original on 23 February 2022. Retrieved 2 May 2022.
23. ^ "Turkish companies eye local sports sponsorships in distant countries". dailysabah.com. 25 November 2017. Retrieved 2 May 2022.
24. ^ "Beko". Archived from the original on 5 December 2023. Retrieved 13 May 2022.

## External links

[edit]

* Beko – International

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