BQ (New Line)

As of February 2022, BQ produces smartphones and TVs, mobile phones and tablets, as well as multifunctional household appliances.

Performance indicators

2022: Operating profit growth of 179%

At the end of fiscal 2022, the BQ brand showed an increase in sales in the segment of small household appliances by 211% compared to the same period in 2021. Operating profit increased by 179%. At the same time, the market for small household appliances, according to large chain retailers, showed an increase of 5% at the end of the year. The company announced this on January 19, 2023.

The results are significant for the company, given that Russian there were serious changes in the home appliance market in the second half of 2022: a number of manufacturers stopped direct supplies, logistic chains were seriously disrupted, and exchange rate volatility was observed. ruble The excitement in March - April 2022 changed to the opposite trend by the end of the third quarter. Nevertheless, the BQ brand was able to quickly rebuild its supply chains and stabilize the supply of equipment to the Russian market, which made it possible to increase the assortment portfolio and increase its share in the segment of small household appliances, which is a priority for the company as part of its business diversification strategy.

The year was very difficult and perhaps one of the most difficult in the history of the brand. Circumstances required us to make flexible decisions and make rapid changes to the company's strategy. In just a month, we not only rebuilt all logistics, but also scaled our line of household appliances, increasing the product range by 25% compared to a year earlier. The strong growth was also due to the active development of the BQ brand in the e-commerce segment . At the end of 2022, we showed more than 4-fold growth in online sales, "said CEO Vladimir Puzanov.

Among all product categories, such categories as household appliances for the kitchen and at home became growth drivers in the overall sales structure by the end of 2022. In the category of "kitchen appliances," the leaders in sales of the BQ brand were planetary mixers and kitchen machines, electric kettles and coffee makers. Wireless vertical vacuum cleaners and steam mops became leaders in the category "home appliances." Also, in 2022, this category was replenished with a line of climatic equipment. This suggests that the demand for small household appliances remained among the priorities of consumers, while goods in the "electronics" category were on the list of devices whose purchase plans were revised.

The exceptional economic situation has created a strong favorable factor for the segment of household appliances as a whole. The third place in the list of consumer spending in 2022 is occupied by household appliances and we see this on our own sales. Consumers were more likely to invest in their own homes by purchasing BQ equipment. This proves that buyers highly value our brand for quality, especially in times of uncertainty, "Vladimir Puzanov explained.

For 2023, the BQ brand sets itself an ambitious goal - 2 times the growth of operating profit due to the expansion of the assortment portfolio and the launch of a line of equipment - BQ Premium. The premium range will feature home and kitchen appliances and will include around 10 models by the end of the year. The launch of the BQ Premium line is scheduled for March 2023.

The BQ brand is associated mainly with household appliances and electronics in the mass consumer segment and the economic price range. But things could change with the release of the BQ Premium line. We cannot yet reveal all the secrets. But it will be a technique with a new, different from the main line - design, high functionality and innovative technologies, which consumers will appreciate, - said Vladimir Puzanov.

In addition, in 2023, the BQ brand will adhere to an intensive growth strategy, expanding the capabilities of its production facilities, improving the quality of manufactured equipment and focusing on increasing the market position of the brand. One of the key areas will be the growth of brand knowledge and the level of client service, which will also include customer service support. The BQ brand will pay special attention to the development of sales and improvement of interaction with consumers in the e-commerce segment, as well as the positioning of the brand on virtual shelves and digital platforms in order to ensure its availability anywhere in the country against the background of the transformation of Russian retail and increasing the influence of marketplaces on the choice of the buyer.