Strategic License Agreement between Arçelik and Changhong

Arçelik Signed a License Agreement with Changhong

Arçelik (ARCLK) has signed an important licensing agreement with Hong Kong-based consumer electronics and white goods company Changhong. This contract will take effect on January 1, 2026, and will be valid for three years.

Content of the Agreement

Arçelik's subsidiary Grundig Multimedia, located in Zonguldak, will have the right to manufacture and sell specific product groups in the categories of white goods, air conditioning, and consumer electronics under the Grundig brand, excluding small household appliances, in Europe, CIS, and APAC regions as part of this agreement with Changhong.

In particular, in the Chinese and Russian markets, the production and sale of products in all categories, including small household appliances, will be carried out by Changhong under the Grundig brand.

Financial Terms and Extension Options

It was stated in the announcement that the agreement based on license fee payments can be extended for another two years with mutual consent of the parties. During the transition period, Grundig Multimedia AG and its subsidiaries will continue to produce, distribute, and sell Grundig-branded products in certain markets for a limited period. This period is expected to end by December 31, 2026, at the latest for all markets granted exclusivity.

This licensing agreement aims to strengthen the global presence of Grundig-branded products outside Turkey. The activities of the Grundig brand in the Turkish market will continue in their current form.

Conclusion

This strategic licensing agreement between Arçelik and Changhong has the potential to enhance the international market influence of both companies. Such partnerships are considered important steps for companies’ growth targets from an investor's perspective.