TTI has recently unveiled eye-catching numbers in its 2017 annual statement. Some data are as follows.
Its sales volume hit USD 6.064 billion, marking 10.6% record growth. The gross profit rate rose 50 percentage to 36.7%, while net profits climbed 15% to USD 470 million.
Its sectors of electric tools and cleaning tools took up 84.7% and 15.3% respectively. Regional shares: North America 76.3%, Europe 15.2% and others 8.5%.
Below are electric tool brands and corresponding positionings.
Below are vacuum brands and positionings:
Hoover, high-tier commercial channels; Oreck, professional channel; Vax high-end brand; Dirt Devil, low and medium priced.
TTI’s function distribution map is shown below:
North America: sales, R&D, marketing and manufacturing.
Latin America, Middle East and Australia: sales and marketing
Europe: electric tool sales, marketing, R&D and manufacturing, as well as sales and marketing of cleaning appliances
Asia: TTI headquarters for sales, marketing, R&D, manufacturing and global supply chain procurement.
Explosive growth in electric tool business, especially Milwaukee and Ryobi, has been achieved, largely resulting from cordless technology layout.
Cleaning appliances business declined 8.3%, marking a 15.3% share of group businesses. Cordless vacuums, amid this, saw two-digit growth in multiple regions and put into new cordless vacuum production lines.
TTI targets following chances:
1.From wired to cordless products
2.From pneumatic to cordless tools
3.From petrol-driven to cordless battery driven mode
4.From wired lighting to cordless battery lighting
5.From hand tools to cordless electrical tools
6.From hydraulic tools to cordless electrical tools
7.Tool replacement cycle
8.Aftermarket of battery
The vacuum magnate TTI released a strong signal in its statement. With the contrast of record increase of overall businesses and two-digit rise of cordless vacuums, cleaning appliances business generally declined 8.3%. In this statement, TTI underlined further intensified input in cordless products which has proven a successful strategy. It is phasing out wired products.
TTI is hearsay to close off its Suzhou vacuum office and transfer R&D and production functions to Dongguan factory. Given what Dyson declared earlier, wired vacuums is anticipated to become history in a few years.
