Dyson blows up in China and reinvests in UK sites

 
Alys Key
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Dyson and Jen Atkin Personal Appearance event at The Grove
The launch of the Dyson Supersonic hairdryer saw the brand break into new sections of the market (Source: Getty)

Chinese growth of 244 per cent propelled Dyson's profits to £631m last year.

The technology company today revealed that turnover around the world grew 45 per cent in the year to £2.5bn.

A tripling of the Chinese team, reinvestment in the Shanghai office, and new demo stores in Beijing, Guangzhou and Hangzhou contributed to the strong growth in the country, where Dyson is now in its third year of trading.

Dyson V8 cord-free became the fastest-selling Dyson vacuum cleaner ever launched worldwide, aided by a spike of 343 per cent in uptake of such cord-free cleaning devices among Chinese consumers.

The success was matched in other Asian markets such as Indonesia, up 266 per cent, and the Philippines, which grew by 200 per cent.

The US remains Dyson's largest market. Stateside sales were boosted by the release of the new Supersonic hair dryer during New York Fashion Week, which helped the brand break through to new buyers. Two in three American customers buying the new product had never purchased anything from Dyson before.

Expansion plans for the coming year include opening flagship stores in major cities across India.

CEO Max Conze said, “2016 was one of our best years yet, driven by new technology and international growth.”

Dyson, which was established by British inventor Sir James Dyson, reinvested in its UK research centres. Following the extension of its 56 acre headquarters in Malmesbury, the company will expand its research facilities with a second Wiltshire-based campus on a 517 acre site in Hullavington.

This will increase Dyson's UK footprint 10 fold. The firm also plans to maintain its status as the UK's leading investor in robotics by continuing a £2.5bn investment programme in future technology. The new facilities will help with plans to develop new technologies like AI, machine learning, and vision systems.

Sir James Dyson said: “Software is propelling hardware companies at a faster rate than software is propelling software companies. The power comes from the two working together.”

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