'Rice Cooker Master' Cuckoo, Overseas Sales on the Rise..."Accelerating Global Distribution Network Expansion"

Cuckoo Electronics' compact rice cooker 'Twin Pressure Petit.'
[Photo by Cuckoo]

[Asia Economy Reporter Lee Junhyung] The overseas subsidiary sales of home appliance company Cuckoo Electronics are showing an upward trend. The company plans to actively expand its overseas distribution network.

According to Cuckoo Electronics on the 21st, the offline sales of the company's Chinese subsidiary Qingdao Bogo Electronics increased by 48% compared to the same period last year. Offline sales in the South China region in the third quarter of this year increased by 42% compared to the same period last year. The offline distribution network, which was strengthened mainly in major commercial districts in China, is showing solid performance as restrictions on going out due to COVID-19 have eased.

Earlier, Cuckoo Electronics expanded its presence in 'Sundian,' a premium home appliance retailer with 33 stores in the South China region, focusing on its main rice cooker lineup. In the Northeast region, the number of offline stores in comprehensive shopping malls has also increased. Shopping malls in the Northeast region were known to handle only luxury consumer goods brands, making it impossible for home appliance brands to enter until recently. However, the company explained that as Cuckoo Electronics' status in China has risen, entry has become possible. Currently, Cuckoo Electronics' rice cookers hold the number one market share among imported electric rice cookers in major offline stores in the Northeast region.

Cuckoo logo. [Photo by Cuckoo]

The growth of the Vietnam subsidiary is also remarkable. The sales of Cuckoo Electronics' Vietnam subsidiary in the third quarter of this year increased by 495% compared to the same period last year. The company secured distribution channels by entering about 1,300 stores of 'DMX,' Vietnam's largest distributor. It is also focusing on securing new distribution networks by opening official stores on Vietnamese e-commerce platforms such as Lazada, Shopee, and Tiki.

Efforts to penetrate the North American market are also accelerating. The sales of Cuckoo Electronics' US sales subsidiary in the first half of this year increased by 44% compared to the same period last year. This was the result of diversifying the kitchen appliance lineup beyond the previous rice cooker-centered sales strategy targeting Korean Americans and focusing on localization. Additionally, after launching rice cookers on Amazon, the company ranked second in sales of new rice cooker products.

Building on its US performance, the company is expanding its sales channels to Canada. Recently, as demand for home appliances has increased in Canada, it has completed entry into 80 Costco stores in Canada. Currently, the products available are mainly electric rice cookers and electric thermal pots, but the company plans to expand the product lineup to include air fryers, grills, and more in the future.

A Cuckoo Electronics official said, "By expanding overseas distribution networks, we are increasing contact points with consumers and continuing meaningful performance not only in the Asian region but also in the North American market," adding, "We will establish our position as a global home appliance brand by increasing product lineups tailored to local markets."

This content was produced with the assistance of AI translation services.