Fisher and Paykel Appliances opened its first store in the country. The opening ceremony its first China store was full of oysters, champagne and smiling models.
The store is nestled between other luxury brands, with No Yoke around the corner, Porsche downstairs, and Mercedes Benz convertibles on display on the street front. FPA international Chief Operating Officer, Andrew Paykel revealed that it is more a showroom than a retail store which was aimed mainly at architects rather than casual street traffic. He said, “We are appealing to very discerning customers who are putting in big kitchens and big appliances”.
FPA wishes to target the wealthy Chinese and anticipates opening three more such stores in the next year. Mr. Paykel further said, “We are not expecting rapid sales growth, we are here for the long haul”.
FPA reported an $82.4 million interim loss in the six months to September 30 2009. Its revenue dropped by $113.3m compared with the same period the previous year. Haier representatives were also present in the opening ceremony on Sunday and the Company is offering its extensive distribution and servicing networks to FPA. The favor will be returned by FPA in New Zealand and Australia.
Mr. Paykel also opened a similar store in Ho Chi Minh City, Vietnam on Saturday.