Summary
Royalstar or Rongshida (Chinese: 荣事达) is a Chinese brand of home appliances owned by the Hefei State-owned Assets Management Holdings Co., Ltd, a branch of Hefei State-owned Assets Supervision and Administration Commission (SASAC).[1]
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| Product type | home appliances |
|---|---|
| Owner | Hefei State-owned Assets Management Holdings Co., Ltd. |
| Country | China |
| Introduced | 1 January 1993 |
| Markets | Mainland China |
| Previous owners | Hefei Rongshida Group Co., Ltd. |
| Website | See#External links |
The history of Rongshida dates back to 1954.[2] The brand named 'Rongshida' was founded in 1993.[1] From 1995, Rongshida had been the highest selling brand in the Chinese market for washing machines for four consecutive years.[3] Rongshida began to produce refrigerators in 1998.[4] Washing machines and refrigerators were the main products of Rongshida during its flourishing time.
Since the 21st century, Rongshida has experienced ups and downs and lost its leading position in the Chinese market of major appliances.[5] In 2011, the liquidation and cancellation of Rongshida as a corporate entity was finished.[6][7] However, some authorized companies still have the right to use the brand and the trademark of Rongshida.[1][5][8]
History edit
Rongshida grew out of the Hardware & Iron Foundry of Hefei West District, which was founded in 1954 in Hefei, Anhui.[2] After several mergers, the factory began producing washing machines in 1980.[9] In 1986, Chen Rongzhen took over the company as the factory director and reformed the producing system of the factory, which turned around the gloomy situation caused by poor operation of that time.[10] In 1990, the factory became the fourth largest manufacturer of washing machines in China.[11]
On 8 October 1992, the factory founded a joint venture named Rongshida Electric Co, Ltd. with Hongkong Fengshida Investment Co, Ltd. and Anhui Import & Export Company.[9][12] On 30 December 1992, the first Rongshida refrigerator was produced.[5] On 1 January 1993, Rongshida as a brand was officially launched.[9] In cooperation with the Japanese company Sanyo Electric Co., Ltd., Rongshida founded a joint venture named Hefei Rongshida Sanyo Electric Co., Ltd.[2][12] In the following years, Rongshida earned the certifications of 'China Well-known Trademark', 'National Free-inspection Product' and 'China Top Brand'.[12]
In order to expand the category of its products, Rongshida Group founded another six joint ventures with Maytag Corporation and Hong Kong ECRIEE Electronics Co., Ltd.[2][12] In April 2002, Rongshida registered its English trademark 'Royalstar'. Three months later, Chen Rongzhen, who had been in charge of Rongshida for 16 years, resigned.[13]
In May 2004, all the shares of Rongshida's joint venture with Maytag was purchased by Midea Group.[14] Four years later, with a large-scale reform of state-owned enterprises in Hefei, Rongshida Group began its restructuring.[2][6] The state-owned shares being gradually transferred, Rongshida became unable to run its business. After its cancellation, Rongshida brand was marginalized under the control of Midea Group, which led to its constantly declining market shares. In 2012, the market share of Rongshida washing machines reached only 1.67%.[5][15]
On 6 November 2014, the Whirlpool Corporation, the biggest producer of home appliances worldwide, completed its acquisition of Rongshida Sanyo. On 9 December of the same year, Rongshida Sanyo was officially renamed Whirlpool China.[16]
References edit
- ^ a b c 合肥荣事达三洋电器股份有限公司. 关于“Royalstar荣事达”品牌的声明. 《新安晚报》. 29 December 2013. Retrieved 10 January 2020. (in Chinese).
- ^ a b c d e 黄叙新. 荣事达的品牌复兴梦. 《中国品牌》. May 2013 [Retrieved 10 January 2020] (in Chinese).
- ^ 包晓闻和宋联可 (1 July 2003). 《中国企业核心竞争力经典：企业文化》 (in Simplified Chinese). 中国北京: 经济科学出版社. ISBN 978-7505834682. Retrieved 10 January 2020.
- ^ 王军光. 荣事达新合资运动缘何失败. 《北京青年报》.11 February 2002. Retrieved 10 January 2020 (in Chinese).
- ^ a b c d 葛如江和马姝瑞. 荣事达品牌一波三折 透视品牌管控之“惑”. 中国金融信息网. 21 May 2013. Retrieved 10 January 2020. (in Chinese).
- ^ a b 陈国志 (15 January 2011). "荣事达集团将推出历史舞台". 《安徽商报》 (in Chinese). Archived from the original on 27 March 2017. Retrieved 10 January 2020.
- ^ 刘媛媛 (22 December 2011). "合钢宣告破产 荣事达清算关闭". 《安徽商报》 (in Chinese). Archived from the original on 27 March 2017. Retrieved 10 January 2020.
- ^ 莫柳. 两个荣事达形如孪生，却没有半毛钱关系. 《南方都市报》. 4 March 2016. Retrieved 10 January 2020. (in Chinese).
- ^ a b c 宋永莲. 荣事达集团的企业发展战略研究. 2002. Retrieved 10 January 2020. (in Chinese).
- ^ 王运宝 (3 November 2008). "陈荣珍：一个时代的背影". Sina.com.cn (in Chinese). Retrieved 10 January 2020.
- ^ ""荣事达大道"概念解决". emkt.com.cn (in Chinese). 3 July 2000. Retrieved 10 January 2020.
- ^ a b c d 荣事达企业文化手册. 合肥荣事达集团有限责任公司. 10 January 2005. Retrieved 10 January 2020 (in Chinese).
- ^ 程李. 荣事达内部人不满陈荣珍被安排“退休”. 《财经时报》. 25 July 2002. Retrieved 10 January 2020. (in Chinese).
- ^ 吴明、张小梅和张骅. 荣事达：冲击“冰洗”三甲. 《中国企业报》. 7 February 2005. Retrieved 10 January 2020. (in Chinese).
- ^ 陈思辰 (25 April 2013). "荣事达被租用 沦为区域三四线品牌产品". Sina.com.cn (in Chinese). Retrieved 10 January 2020.
- ^ "Whirlpool Completes Acquisition Of Majority Stake In Hefei Sanyo". PR Newswire. 24 October 2014. Retrieved 10 January 2020.
External links edit
- Whirlpool China (in Chinese)
- Hefei Rongshida Small Appliance (in Chinese)
- Hefei Rongshida Electric Appliance (in Chinese)
- Hefei Rongshida Solar Energy Technology (in Chinese)
- Hefei Rongshida Water Industrial Equipment (in Chinese)
- Hefei Rongshida Vehicle (in Chinese)
- Zhongshan Rongshida Kitchen & Bathroom Electric Appliances (in Chinese)