Swedish home appliances manufacturer AB Electrolux said March 9 it is introducing its premium brand AEG to the Chinese market through a joint venture with China's Midea Group Co. Ltd.
Through the JV, the companies will open the first AEG home appliance store in China in June with an initial selection of products, followed by the launch of a flagship store in the city of Guangzhou in August and additional product releases in October.
In addition to operating in China's high-end retail market, the JV between the two appliance makers will also explore real estate projects.
The Swedish company already offers its Electrolux and Zanussi appliance brands in China.
