Royalstar (simplified Chinese: 荣事达; traditional Chinese: 榮事達), also known as Rongshida,[1] or simply referred to as RSD,[2] is a Chinese appliance maker.[3] The brand is headquartered in Hefei and is currently owned by Rongdian Group.[4] In 1996, it formed a joint venture with Maytag,[5] which divested the business in 2002.[6]
 | |
| Product type | home appliances |
|---|---|
| Owner | Rongdian Group |
| Country | China |
| Introduced | 1993 |
| Website | www.rsdgroup.com.cn |
In the 1990s, Rongshida was one of the top ten well-known consumer brands in China.[7] Since the 21st century, the brand has experienced ups and downs and lost its leading position in the Chinese market of major appliances.[8] In 2011, the liquidation and cancellation of Rongshida as a corporate entity was finished.[9] The Chinese Household Electrical Appliance Network said that after several changes of ownership, the Rongshida brand ceases to exist except in name.[10]
History
editThe history of Rongshida dates back to 1954.[11] In 1993, the Rongshida brand was officially launched.[12] In 1994, Rongshida Group set up a joint venture with Sanyo Electric Co., Ltd. under the name of Rongshida Sanyo Electric.
In 2013, the Rongshida brand began to be owned by Rongshida Sanyo Electric. Prior to that, the brand had been held by Midea Group for five years.[13]
In 2014, Whirlpool completed its acquisition of a 51% stake in Rongshida Sanyo Electric. The purchase price was approximately $552 million.[14] Subsequently, the company was renamed Whirlpool China.
From 2018 to March 31, 2023, the rights to use the trademark of Rongshida were owned by Whirlpool China.[15]
Criticism and controversies
editThe brand licensing of "Rongshida" was alleged to be chaotic.[16] Small home appliances such as induction cookers, rice cookers and electric kettles produced by the brand were repeatedly listed on quality inspection blacklists by the Chinese quality inspection authorities.[16]
On May 12, 2016, Alibaba Group launched the "Clean Network Initiative", due to quality problems, Rongshida's small home appliances were banned by Alibaba from being sold on its e-commerce platforms.[17]
References
edit- ^ William Kazer (July 24, 2002). "Hefei city sacks chiefs of two losing corporations". South China Morning Post. Archived from the original on August 1, 2024.
- ^ "Maytag Forms Union With China Firm". The Telegraph-Herald. September 17, 1996.
- ^ "Global, schmobal". Forbes. March 10, 1997. Archived from the original on August 1, 2024.
- ^ "五常市委领导一行莅临荣电集团3U生态产业园参观考察". Phoenix. April 10, 2024. Archived from the original on August 1, 2024.
- ^ "Maytag Announces Resignation of CFO And Other Senior Management Changes". The Wall Street Journal. November 19, 1999. Archived from the original on April 23, 2024.
- ^ Mark O'Neill (January 31, 2002). "Maytag severs links with fridge-maker". South China Morning Post. Archived from the original on August 1, 2024.
- ^ "Name That Company". The Gainesville Sun. August 9, 1999.
- ^ Ge Rujiang; Ma Shurui (May 21, 2013). "Royalstar Faces Multiple Issues". China Financial Information Network. Archived from the original on June 13, 2013.
- ^ "合钢宣告破产 荣事达清算关闭". Anhui Business News. 22 December 2011. Archived from the original on 27 March 2017.
- ^ "The Rongshida Brand Ceased to Exist Except in Name". Chinese Household Electrical Appliance Network.
- ^ Luo Changhai (2006). The Case Analysis of Enterprise Culture Construction. Tsinghua University Press. p. 393. ISBN 978-7-302-13120-5.
- ^ "荣电集团：荣事达品牌新时代的领旗手". Sina Tech. July 1, 2024.
- ^ "惠而浦续签荣事达商标 家电老品牌谋求焕新生". People's Daily. July 26, 2018. Archived from the original on August 1, 2024.
- ^ "Whirlpool buying 51% Hefei Sanyo stake". Associated Press. August 13, 2013. Archived from the original on August 18, 2013.
- ^ "品牌许可费约每天1万元，惠而浦继续接盘为荣事达"续命"5年". Jiemian News. July 25, 2018.
- ^ a b Yang Lingling; Liu Yuanyuan (April 29, 2017). "Home appliance brand Rongshida repeatedly appeared on quality inspection blacklists". China Business Journal. Archived from the original on August 2, 2024.
- ^ Liu Yinghua. "Alibaba Bans the Sale of 48 Small Household Appliances with Quality Problems". Xinhua News Agency. Archived from the original on May 14, 2016.