Recently, Philips announced an acquisition agreement with Italy's Ilti Luce, which is another major move by Philips Lighting to promote its global strategic layout. In the global economic environment, Philips Lighting has developed a detailed value creation strategy to accelerate change and strengthen competitive advantage. Among them, further expanding the leadership advantage in the LED solid-state lighting market is an important driving point for its development.
In the past few years, Philips has completed a series of company acquisitions to strengthen its leading position in the LED field. This is another LED company after the acquisition of Philips Lighting, such as CK, PLI, and Genlyte. Ilti Luce develops innovative indoor LED professional lighting and is Europe's leading LED design company. After completing the acquisition in the first quarter of 2009, Ilti Luce will become a member of the professional lighting business unit of Philips Lighting. The two will integrate the advantages of resources and technology to accelerate the application of LED in indoor lighting.
According to Rudy Provoost, CEO of Philips Lighting, Ilti Luce has been hailed as a leading designer since 20 years ago, providing innovative lighting experiences and lighting solutions for the fast-growing high-end building market. We will develop our innovative entrepreneurial spirit and further enhance our ability to develop unique indoor architectural lighting solutions.
Located in Turin, Italy, Ilti Luce was established in 1989 and has become one of the largest LED lighting production plants in Europe. The main advantage is the design of interior lighting for various buildings, such as shops and museums. Among these architectural achievements monuments are the Vatican Cemetery in the Vatican City and the Egyptian Museum in Turin, Italy. The company achieved double-digit sales growth in 2008 with a profit margin of nearly 20%; in the future, Ilti Luce will fully utilize Philips' distribution channels and look forward to better performance in the future.
Carlo Albano, president of Ilti Luce, said: Since the founding of Ilti Luce, our strategy has been to provide architects with advanced lighting solutions. After becoming a part of Philips, we can use our state-of-the-art lighting technology to make us more mature. And continue to expand our business in architectural lighting solutions in a tough market.
At present, Philips LED has not only been applied to outdoor lighting such as building exterior, but has also entered the professional indoor lighting field such as shopping mall lighting, hotel lighting, office lighting and so on. Recently, the AmbiScene scene lighting system, which represents Philips' latest store lighting concept, officially settled in FILA Nanjing East Road flagship store. The flagship store has the highest sales performance in the country. In this store, LED lighting is widely used, and rich color expression is created for customers. A different shopping experience.
In China, with the general trend of energy conservation and emission reduction and the government's vigorous promotion, LED lighting has great demand and market potential in China. The acquisition of Ilti Luce by Philips Lighting strengthens Philips' leading position in the fast-growing solid-state lighting market and further strengthens Philips' leading position in the global transition to energy-efficient lighting. This is undoubtedly the development of Philips lighting in the Chinese market!
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