LG Electronics Announces Agreement with the Home Depot to Sell Appliances
ENGLEWOOD CLIFFS, NJ -- January 13, 2005 -- LG Electronics U.S.A., Inc., today announced a strategic alignment with The Home Depot(R), the world’s largest home improvement retailer. LG home appliances, which include laundry systems, refrigerators, dishwashers, air conditioners, and microwave ovens, among others, will be available in late 2Q 2005 in The Home Depot stores nationwide and on www.homedepot.com.
“The LG brand has experienced much success and growth in both market and mindshare in the past year in the home appliance category in the United States. In aligning with The Home Depot, we are taking our brand to the next level,” said Michael Ahn, president and CEO of LG Electronics U.S.A., Inc. “Our agreement with The Home Depot allows us the opportunity to reach a great number of consumers in a compelling, high growth and exciting retail format.”
“The Home Depot continues to make significant investments in expanding our home appliance offering, bringing new and innovative products to our growing customer base,” said John Costello, executive vice president, Merchandising and Marketing for The Home Depot. “We’re pleased to collaborate with LG Electronics to deliver on this promise. LG Electronics has demonstrated true brand appeal and product leadership across multiple appliance categories.”
LG Electronics has received industry accolades for its product innovations, including the Internet refrigerator, TROMM front load washer/dryer, television refrigerator, and combination microwave ovens. These revolutionary products, and others, will be available at The Home Depot.
About The Home Depot
Founded in 1978, The Home Depot(R) is the world’s largest home improvement specialty retailer and the second largest retailer in the United States, with fiscal 2003 sales of $64.8 billion. The company employs approximately 325,000 associates and has 1,866 stores in 50 states, the District of Columbia, Puerto Rico, nine Canadian provinces and Mexico. The company recently announced the creation of a business development operation for retail expansion into China. Its stock is traded on the New York Stock Exchange (NYSE:HD) and is included in the Dow Jones Industrial Average and Standard & Poor’s 500 Index.
About LG Electronics U.S.A., Inc.
Based in Englewood Cliffs, N.J., LG Electronics U.S.A., Inc., (LGEUS) is the North American subsidiary of LG Electronics, Inc., a $30-billion global leader in consumer electronics, information technology and communications products, headquartered in Seoul, South Korea. LGEUS comprises four core business areas: consumer electronics, home appliances, information technology products and mobile phones. In providing cutting-edge, performance-driven products for the largest digital market in the world, LGEUS’ goal is to enable the intelligent networking of digital products that will make consumers’ lives better and deliver on the promise of its “LG: Life’s Good” marketing theme. Its products are available at major retail outlets nationwide. For more information, please visit www.lgusa.com.
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