Fulgor Milano Heads back to Milano....CORRECTION Stays in USA
Submitted by advisor on Mon, 01/16/2012 - 9:45pm.
Effective January 1, Fulgor Milano has pulled up stakes and left North America. Fulgor Milano is a brand unknown to most of you. It may be better known in its many other iterations, such as:
-Fulgor (the bankrupt acquisition)
-FCI (the bankupt acquisition's first North American brand name)
-Elan (the parent's first USA distributor brand, now shuttered)
or
-Meneghetti (the parent company).
Fulgor Milano has shut down its Chicago HQ and fired its Managing Director.
Fulgor Milano Corporate Correction
Fulgor Milano tells ApplianceAdvisor.com that what looks like an exit from the North American market, in fact is nothing of the sort.
xxxxxxxxxxxxxxx
PRESS RELEASE
January 30. 2012
Press Release: Fulgor-Milano here to stay in the USA and Canada market
Fulgor srl, a company owned by the Meneghetti family and owner of the Fulgor-Milano trademark, communicate their intention to not only maintain their presence within Canada and the United States, but to strengthen their presence.
The changes over the recent weeks in the USA by Fulgor srl are part of a new strategy which allows the company to move from a three step distribution model to a direct manufacture to distributor model. “In todays economy we must find ways to remove as many unnecessary fixed costs from the distribution model and give our clients the best possible service at the most competitive prices possible.” In order to do this Fulgor LLC was closed so that existing clients and future clients would deal directly with Fulgor srl. This will have a dramatic impact in reducing the MSRP on most products by 20-25%.
Fulgor srl. had begun collaborating with The Vetta Group Inc. on the development of a new US/Canadian 2012 product line in Q3 of 2011. Fulgor srl has spent significant resources in developing this new line, and would not have done so if they did not believe in this market. This new product line will begin to be launched by existing Fulgor-Milano distributors in Q2 of 2012.
The distribution model has been further streamlined by officially hiring The Vetta Group Inc. in 2012 to provide, product development, sales, and marketing support to Fulgor srl for the Fulgor-Milano brand. After sales service and parts distribution will now be covered by a third party provider with much more experience in the US market and numerous other domestic appliance clients. This will ensure better service and lower costs to the model. The Vetta Group Inc provides Fulgor srl with over 50 years of combined experience in the North American domestic appliance industry, from all levels; manufacturing, distribution, and retail
Francesco Magnani
Business Unit Manager