Beko

For other uses, see Beko (disambiguation).

Beko (/ˈbɛkoʊ/ BEK-oh; stylized as beko) is a Turkish white goods and electronics brand of Arçelik A.Ş., which is controlled by the Koç Holding conglomerate.^[2]

Beko Elektronik

Company type	Anonim Şirket
Industry	Major appliances Small appliances Electronics Technology
Founded	1955; 70 years ago (1955) in Istanbul, Turkey
Founders	Vehbi Koç Leon Bejerano
Fate	Merged with its parent company
Headquarters	Istanbul, Turkey
Area served	Worldwide
Revenue	€12.085 billion (2024)[1]
Operating income	€162 million (2024)[1]
Net income	€62 million (2024)[1]
Total assets	€11.216 billion (2024)[1]
Owner	Arçelik A.Ş.
Parent	Koç Holding
Website	www.beko.com

History

Beko Elektronik A.Ş. was founded by Vehbi Koç, the founder of Koç Holding (who also founded Arçelik A.Ş. in 1955, which is currently the parent company of Beko, Grundig and Indesit as of 2022), and Leon Bejerano in Istanbul, Turkey, in 1954. The company's name is a combination of the first two letters of the founders' surnames, Bejerano and Koç.

In 2004, Beko Elektronik purchased the German electronics company Grundig and by January 2005, Beko and its rival, Turkish electronics and white goods brand Vestel, accounted for more than half of all TV sets manufactured in Europe.^[3]

In April 2010, the electronics division of Beko renamed itself Grundig Elektronik A.Ş.^[4]

At the Extraordinary General Shareholders Meeting of Arçelik A.Ş. on 29 June 2009, it was decided to merge Arçelik A.Ş. with the company's subsidiary, Grundig Elektronik A.Ş. (to be administered directly by Arçelik A.Ş. of Koç Holding) by taking over all of Grundig's assets and liabilities as a whole.^[5]

Beko started selling its products in Egypt in 2014^[6] and, in June of that year, the company updated its logo.^[7]

In India, Beko formed a joint venture with Tata Group subsidiary Voltas in 2017 to produce home appliances like TVs, dishwashers, washing machines, under "Voltas Beko" brand.^[8]

Products

A Beko washing machine, which has 1200 RPM spin and A rating

Beko is a budget brand name in some countries and continues to be in use for a number of Arçelik A.Ş. products such as television sets,^[9] refrigerators, washing machines and dishwashers, in several countries.^[10]

Incidents

Some Beko products have posed a safety risk to consumers who have bought them. In 2016, Mishell Moloney was found dead due to a fault with a Beko drying machine that had caught fire.^[11] Beko tried to claim that the fault that led to Moloney's death was a 'tragic and isolated incident.'^[12] However, the DCS 85W drying machine which was used by Moloney was already responsible for some twenty fires in the UK. Beko quality control chief, Andrew Mullin, also revealed that the smaller models in the range, had already been recalled due to hundreds of safety incidents.^[13]

Sponsorships

Beko has been the official sponsor of the Turkish, Italian and Lithuanian premier basketball leagues, as well as the 2014 FIBA Basketball World Cup in Spain.^[14] Beko is a partner of the Spanish football club FC Barcelona^[15] since 2014 and Turkish football club Beşiktaş JK^[16] (having previously been their shirt sponsor from 1988 to 2004^[17]) and Turkmen football club FC HTTU.^[18] Furthermore, it had been one of the largest advertisers in the English Premier League since 2008,^[19] and an official sponsor of the FA Cup.^[20] Beko sponsored Millwall F.C. in the 2005–06 season.^[21]

Between 2016 and 2020, Beko was the main sponsor of Netball New Zealand's National Netball League.^[22][23]

Beko is a premier sponsor of Volley Lube.^[24]

Former logos

• 
  Beko logo (1955–1986)
• 
  Logo (1986–1993)
• 
  Logo (1993–2014)

Arçelik and Whirlpool Form Beko Europe in Landmark Joint Venture

Istanbul, Turkey and Benton Harbor, Michigan – Turkish industrial conglomerate Koç Holding's subsidiary, Arçelik, has finalized a significant agreement with American appliance manufacturer Whirlpool Corporation to merge their European major domestic appliance operations. The deal has led to the creation of a new entity, Beko Europe B.V., which is set to become a dominant player in the European home appliance market.

Under the terms of the transaction, which closed in the second half of 2023, Arçelik contributed its major domestic appliance, consumer electronics, air conditioning, and small domestic appliance businesses, while Whirlpool contributed its European major domestic appliance business. Arçelik, through its wholly owned subsidiary Ardutch B.V., holds a 75% majority stake in the newly formed company, with Whirlpool retaining the remaining 25%.

The new venture brings together a wide portfolio of well-known brands. Arçelik's brands include Beko, Grundig, Altus, Blomberg, and Leisure, while Whirlpool's European brands such as Indesit, Hotpoint, Ignis, Privileg, and Bauknecht are also part of the new company. Beko Europe will have the rights to produce and sell products under the Whirlpool brand name in Europe for a period of 40 years.

This strategic partnership is expected to create significant synergies, combining the manufacturing expertise, supply chains, and distribution networks of both companies. The new entity is projected to have a combined annual production capacity of approximately 24 million white goods products and will employ over 20,000 people across its various European locations.

Marc Bitzer, Chairman and CEO of Whirlpool Corporation, stated that the move is a key step in Whirlpool's portfolio transformation, allowing the company to focus on its businesses in the Americas and Asia. For Arçelik, a part of the expansive Koç Holding, the deal represents a major expansion of its footprint in the European market. Hakan Bulgurlu, CEO of Arçelik, highlighted the opportunity for growth and innovation that the combined strengths of the two companies will bring to European consumers.

The transaction received regulatory approval from antitrust authorities, including the UK's Competition and Markets Authority, before its finalization. The headquarters of Beko Europe will be located in the Netherlands.