Sweden's Electrolux Group to sell brands, factories in Egypt

Among the brands that will be sold are Zanussi, Ideal, Faure, Zanker, Rosenlew, Elektro-Helios, Zoppas, Olympic Electric, and Kwikot.

The group will instead focus on innovating sustainable user experience through digital mechanisms and interaction with customers, said Jonas Samuelson, CEO of Electrolux Group.

It is worth noting that the assets put on sale by Electrolux generated $693.29 million in sales during 2022, which accounts for five percent of the group's total sales last year.

Egypt's units contributed $195.29 million to Electrolux's sales in 2022.

The group employs 2,238 Egyptians.

Electrolux Group began its investments in Egypt in 2011 by acquiring the Egyptian Olympic Group, the largest home appliance manufacturer in the Middle East.