MOSCOW. Sep 25The Chinese manufacturer of household appliances Haier, which owns the Russian legal entity of the Italian brand Candy, has decided to close a plant in Kirov, Kommersant reports, citing sources.
«The decision was made due to that since February 2022, the revenue of the Candy plant began to fall,” the material says.
The reason for the drop in profits was competition from cheaper Chinese and Russian brands.
The company may go bankrupt or be sold at real estate price.
Plant LLC «Kandy S.N.G.» located in Kirov. The Italian brand Candy ranks eighth in popularity in Russia in terms of sales of refrigerators and fourth among washing machines.