Company:ARJ Home Appliances Company
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| Founded | 1937 |
|---|---|
| Founder | Khalil Arjomand |
| Headquarters | Tehran, Iran |
| Products | Home Appliances |
| Website | arjco.com |
Arj Home Appliance Company is the first white goods manufacturer in Iran and a name that is familiar to all Iranians with this quote “The brand you know and trust”. It was founded by Mr.Khalil Arjomand in 1937 as a small workshop in Tehran, Iran with eight employees. It started its activities by producing water coolers and refrigerators. It later expanded its production line to include gas heaters, washing machines, freezers and other devices.
History
It originally began with a small factory producing metal products. Gradually, it broadened its range of products, increasing the number of employees to eight in the 1940s. On expanding the company, the brand moved to Tehran-Karaj Road – the main industrial area to the west of the capital – where it broadened its range to include several household appliances. But in 1979, like with many of its competitors, Arj was nationalized as part of the new revolutionary government's dislike of large businesses not under national control. By 1995 the majority of its shares were then sold off to Iran's largest state bank, Melli (National) Bank, which sold them on to different private shareholders.[1]
Bankrupt and Closure
ARJ had been closed since 1995. It went bankrupt in fiscal 2016-17 due to increasing competition from foreign brands, financial problems and l not been revamped and modernized machinery during the past decades.[2]
ARJ officially closed in 2016 due to escalating production problems. The main reasons leading to its closure may be:
- Public administration and inefficient management policies
- Exchange rate fluctuations causing a sharp rise in imports
- Lack of strategy
- Old technology and poor quality products[3]
Revival the brand
Ministry of Industry has decided to hold talks with multinational conglomerate corporation General Electric (GE), the American multinational manufacturer and marketer of home appliances Whirlpool Corporation, and the Italian Ariston Thermo Group to revive and update the named Iranian companies like Arj and others.[4][5]
References
- ↑ "Bankruptcy of Iran consumer goods maker Arj shows under pro-market reforms no scared cows" (in en). 2016-06-13. https://www.intellinews.com/iran-s-oldest-appliance-maker-goes-bust-99603/.
- ↑ "Where Are the Main Destinations of Iran’s Home Appliance Exports?" (in En). 2022-08-16. https://financialtribune.com/articles/domestic-economy/114781/where-are-the-main-destinations-of-iran-s-home-appliance-exports.
- ↑ "Home Appliance Industry in Iran - current status, opportunities and threats - ILIA Corporation" (in en). https://www.readkong.com/page/home-appliance-industry-in-iran-current-status-2524893.
- ↑ mo@Iran (2017-01-08). "‘US, Italian firms to save Iran’s troubled brands’" (in en-US). https://theiranproject.com/blog/2017/01/08/us-italian-firms-save-irans-troubled-brands/.
- ↑ "Iran to negotiate revival of Arj, Azmayesh with Europeans, Americans" (in en). 2017-01-08. https://www.tehrantimes.com/news/409856/Iran-to-negotiate-revival-of-Arj-Azmayesh-with-Europeans-Americans.
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