Samsung acquires US luxury electronics maker Dacor

By Yoon Sung-won

Samsung Electronics will acquire U.S. luxury kitchen appliance maker Dacor, the company said, Thursday.

This is the first time in seven years that the electronics maker has acquired a foreign brand, after Polish electronics manufacturer Amica in 2009. Expectations are that Samsung Electronics will move quickly to make inroads in the luxury appliances market in North America as LG Electronics accelerates its drive to boost its presence through the premium Signature brand.

Based on the acquisition, Samsung is seeking to expand its exclusive electronics package lineup and expand distribution channels not only in the business-to-consumer sector but also in the business-to-business sector for construction firms.

“By securing the luxury electronics brand, which has been recognized by U.S. customers, we will be able to enter the country’s built-in appliances market,” Samsung Electronics Consumer Electronics Division President and CEO Yoon Boo-keun said. “We will continue to make investments in establishing retail infrastructure and expanding human resources to strengthen business competitiveness in this market. We will also apply our unique capability for innovation ― and thorough efforts for localization ― to solidify our status as the top electronics maker.”

Dacor, established by Stanley Joseph in 1965, has its headquarters in California and has built a reputation as a luxury brand in the North American built-in appliances market.

The U.S. brand has also been recognized for its luxury ovens, which have received the Seal of Excellence from renowned French cooking academy Le Cordon Bleu.

“Samsung’s market leadership and competitiveness will be a great help in boosting Dacor’s brand,” Dacor CEO Chuck Huebner said. “I believe that the two companies’ cooperation will provide greater value to customers and retail partners in the luxury appliances market.”

According to the industry, the U.S. home appliance market is expected to record about 4 percent annual growth, to reach some $30 billion by 2020.

The luxury sector ― which commonly refers to high-priced appliances that include gas ranges, ovens, extractor hoods and dishwashers ― has also recorded double-digit growth because the appliances are considered to boost housing value.