ARJ Home Appliances Company

Last updated
ARJ Company
Founded1937
FounderKhalil Arjomand
Headquarters
Tehran, Iran
ProductsHome appliances
Website arjgroup.ir

Arj Home Appliance Company is the first white goods manufacturer in Iran. It was founded by Khalil Arjomand in 1937 as a small workshop in Tehran, Iran with eight employees. It started by producing water coolers and refrigerators. It later expanded its production line to include gas heaters, washing machines, freezers and other devices.

Contents

History

The company originally began with a small factory producing metal products. Gradually, it broadened its range of products, increasing the number of employees to eight in the 1940s. On expanding the company, the brand moved to Tehran-Karaj Road – the main industrial area to the west of the capital – where it broadened its range to include several household appliances.

However, in 1979, as with many of its competitors, Arj was nationalized as part of the new revolutionary government's dislike of large businesses not under national control. By 1995 the majority of its shares were then sold off to Iran's largest state bank, Melli (National) Bank, which sold them on to different private shareholders. [1]

Bankrupt and closure

ARJ had been closed since 1995. It went bankrupt in fiscal year 2016-17 due to increasing competition from foreign brands, and financial problems. [2]

ARJ officially closed in 2016 due to escalating production problems. The main reasons leading to its closure may have been:

Revival of the brand

The Ministry of Industry decided to hold talks with multinational conglomerate corporation General Electric (GE), the American multinational manufacturer and marketer of home appliances Whirlpool Corporation, and the Italian Ariston Thermo Group to revive and update the named Iranian companies like Arj and others. [4] [5]

Related Research Articles

A multinational corporation (MNC) – also called a multinational enterprise (MNE), transnational enterprise (TNE), transnational corporation (TNC), international corporation, or stateless corporation, with subtle but contrasting senses – is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control is considered an important aspect of an MNC to distinguish it from international portfolio investment organizations, such as some international mutual funds that invest in corporations abroad simply to diversify financial risks. Black's Law Dictionary suggests that a company or group should be considered a multinational corporation "if it derives 25% or more of its revenue from out-of-home-country operations".

<span class="mw-page-title-main">Electrolux</span> Swedish multinational home appliance manufacturer

Electrolux AB is a Swedish multinational home appliance manufacturer, headquartered in Stockholm. It is consistently ranked the world's second largest appliance maker by units sold, after Whirlpool.

<span class="mw-page-title-main">Maytag</span> American home and commercial appliance brand

The Maytag Corporation is an American home and commercial appliance company. The company has been owned by Whirlpool Corporation since April 2006.

<span class="mw-page-title-main">Tapestry, Inc.</span> American Fashion Holding Company

Tapestry, Inc. is an American multinational luxury fashion holding company. It is based in New York City and is the parent company of three major brands: Coach New York, Kate Spade New York and Stuart Weitzman. Originally named Coach, Inc., the business changed its name to Tapestry on October 31, 2017.

<span class="mw-page-title-main">Asics</span> Japanese athletic equipment company

Asics is a Japanese multinational corporation that produces sportswear. The name is an acronym for the Latin phrase anima sana in corpore sano. Asics is best known for its sneakers, but also produces other footwear such as sandals, as well as clothing and accessories. It is headquartered in Kobe, Hyōgo Prefecture, Japan.

<span class="mw-page-title-main">Avery Dennison</span> American corporation

Avery Dennison Corporation is a multinational manufacturer and distributor of pressure-sensitive adhesive materials, apparel branding labels and tags, RFID inlays, and specialty medical products. The company is a member of the Fortune 500 and is headquartered in Mentor, Ohio.

<span class="mw-page-title-main">Grundig</span> Turkish consumer electronics manufacturer

Grundig is a consumer electronics manufacturer owned by Arçelik A.Ş., the white goods manufacturer of Turkish conglomerate Koç Holding. The company makes domestic appliances and personal-care products.

<span class="mw-page-title-main">Tehran Stock Exchange</span> Iranian stock exchange

The Tehran Stock Exchange (TSE) is Iran's largest stock exchange, which first opened in 1967. The TSE is based in Tehran. As of May 2023, 666 companies with a combined market capitalization of US$1.45 trillion were listed on TSE. TSE, which is a founding member of the Federation of Euro-Asian Stock Exchanges, has been one of the world's best performing stock exchanges in the years 2002 through 2013. TSE is an emerging or "frontier" market.

<span class="mw-page-title-main">Amer Sports</span> Finnish sporting good company

Amer Sports, Inc. is a Finnish multinational sporting equipment company based in Helsinki, Finland. Established in 1950 as an industrial conglomerate with interests as diverse as tobacco trading, ship owning and publishing, Amer has gradually evolved into a multinational firm devoted to the production and marketing of sporting goods. The company employs over 9,700 people.

Conair Corporation is an American company based in Stamford, Connecticut which sells small appliances, personal care products, and health and beauty products for both professionals and consumers.

<span class="mw-page-title-main">Fagor</span> Spanish appliance manufacturer

Fagor Electrodoméstico was a large domestic and commercial appliance manufacturer based in the Basque Country, Spain and run by the Mondragon Corporation. Fagor was Spain's largest consumer appliance company and the fifth largest electrical appliance company in Europe, manufacturing a wide range of domestic appliances, including washing machines, refrigerators and ovens.

Admiral is an American appliance brand that is currently marketed by Whirlpool Corporation and sold exclusively at The Home Depot.

Gorenje ; stylized as gorenje), is a Slovenian major appliance manufacturer, founded in 1950 by Ivan Atelšek. It is based in Velenje, Slovenia. It is the fourth largest manufacturer of household appliances in Europe. Appliances are sold under the company's own brands Gorenje, Asko, Mora, Atag, Pelgrim, Etna, Körting and Sidex, and are produced in the main production facility in Velenje as well as at the cooking appliances plant Mora Moravia in Mariánské Údolí and at the fridge-freezer plant in Valjevo (Serbia).

<span class="mw-page-title-main">The Rival Company</span> American home appliance manufacturer

The Rival Company is an American manufacturer of small appliances that produces products under the Bionaire, Crock-Pot, Fasco, Patton, Pollenex, Rival, Simer, and White Mountain brands. It became a wholly owned subsidiary of Holmes Products Corp. in 1999, and later became a brand of Sunbeam Products, a subsidiary of Jarden Corporation, which purchased Holmes in 2005. Jarden, in turn, merged with Newell Rubbermaid in 2016. It is now part of the Newell Brands company.

<span class="mw-page-title-main">Midea Group</span> Chinese home appliance manufacturer and air conditioner OEM

Midea Group is a Chinese electrical appliance manufacturer, headquartered in Beijiao town, Shunde District, Foshan, Guangdong and listed on Shenzhen Stock Exchange. As of 2021, the firm employs approximately 150,000 people in China and overseas with 200 subsidiaries and over 60 overseas branches. Midea Group is listed on Shenzhen Stock Exchange since 2013. It has been listed on the Fortune Global 500 since July 2016. Midea produces lighting, water appliances, floor care, small kitchen appliances, laundry, large cooking appliances, and refrigeration appliances. It is the largest microwave oven manufacturer, and acts an OEM for many brands. It also has a long history in producing home and commercial products in heating, ventilation and air conditioning (HVAC). It is the world's largest producer of robots and appliances.

<span class="mw-page-title-main">Kenmore (brand)</span> Brand of household appliances

Kenmore is an American brand of household appliances, cookware, floorcare, grills, HVAC equipment and other home items owned and licensed by Transformco, an affiliate of ESL Investments. Previously they were a subsidiary brand of Sears Holdings, but after Sears Holdings filed for Chapter 11 bankruptcy on October 15, 2018 they were acquired by Transformco, formed in 2019 after acquiring the assets of Sears Holdings Corporation.

Bauknecht Hausgeräte GmbH, commonly referred as Bauknecht, was one of Germany's leading manufacturers of household appliances, and since 1989 has been a brand of Whirlpool Corporation. The headquarters of the company was in Schorndorf in Baden-Württemberg until 2006 when it relocated to Stuttgart. Whirlpool has closed its three plants in Calw (refrigerators/freezers), Neunkirchen (dishwashers) and Schorndorf. Since 2012 all Bauknecht branded products have been manufactured outside Germany.

Electrolux Professional AB is a Swedish multinational professional appliance manufacturing company, headquartered in Stockholm. Originally formed as a division and later subsidiary of Electrolux, it was spun-off in March 2020. It produces a variety of products intended for professional consumers, while Electrolux remains more focused toward home consumers.

References

  1. "Bankruptcy of Iran consumer goods maker Arj shows under pro-market reforms no scared cows". www.intellinews.com. 2016-06-13. Retrieved 2023-07-04.
  2. "Where Are the Main Destinations of Iran's Home Appliance Exports?". Financial Tribune. 2022-08-16. Retrieved 2023-07-04.
  3. "Home Appliance Industry in Iran - current status, opportunities and threats - ILIA Corporation". www.readkong.com. Retrieved 2023-07-04.
  4. mo@Iran (2017-01-08). "'US, Italian firms to save Iran's troubled brands'". The Iran Project. Retrieved 2023-07-04.
  5. "Iran to negotiate revival of Arj, Azmayesh with Europeans, Americans". Tehran Times. 2017-01-08. Retrieved 2023-07-04.