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Westinghouse Electric Corporation And Shanghai ICSON Co., Ltd., Enter Licensing Agreement For Exclusive Distribution Of Small-Home Appliances In China
PITTSBURGH, May 29, 2014 /PRNewswire/ --Westinghouse Electric Corporation and Shanghai ICSON Co., Ltd., an e-commerce division of Tencent, Inc., one of China's largest and most-used Internet service portals, have entered into a licensing agreement for the exclusive distribution of select Westinghouse-branded small-home appliances for the mainland Chinese market. Under the agreement, Shanghai ICSON will distribute Westinghouse-branded products in China via Tencent's primary e-commerce destination, Yixun.com, as well as Tencent's other e-commerce platforms.
"We are extremely pleased to enter into this partnership with Shanghai ICSON and Tencent, Inc.," said James Davis, Co-Chief Licensing Officer of Westinghouse Electric Corporation. "As one of China's leading e-commerce players, we feel that Shanghai ICSON is ideally suited to further develop the Westinghouse brand and distribute our products to the broadest possible audience via what has become the retail channel of choice among Chinese consumers in recent years."
Luke Lu, Vice President of Shanghai ICSON, added: "For over 125 years, Westinghouse has been a globally recognized name in the development of high-quality, innovative products. We are pleased to be Westinghouse's exclusive distribution partner for the Chinese market for Westinghouse small-home appliances, and we look forward to working with Westinghouse Electric to develop the Chinese market in the years ahead."
About Westinghouse Electric Corporation
Founded more than 125 years ago, Westinghouse Electric Corporation is a global leader in consumer, commercial and industrial products. Built on a trusted heritage of innovation and entrepreneurial spirit, Westinghouse's state-of-the-art products first supplied the United States with electricity, transmitted the first commercial radio broadcast, and captured man's first step on the moon. Today, Westinghouse's growing and diverse portfolio includes home appliances, electronics, heating and air conditioning, lighting, power generation, green energy technology, and more. WESTINGHOUSE and INNOVATION YOU CAN BE SURE OF are trademarks of Westinghouse Electric Corporation. For more information, visit www.westinghouse.com.
About Shanghai ICSON Co., Ltd.
Shanghai ICSON Co., Ltd., a subsidiary of Tencent Group, is one of the largest e-commerce companies in China. ICSON is an online retailer of a wide range of consumer products, offering more than 60,000 SKUS across more than 1,000 brands, including consumer electronics, home appliances, automobile products, apparel and accessories.
SOURCE Westinghouse Electric Corporation
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