So ist das Leben /That's life / C'est la vie / Así es la vida / È la vita ...

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16 / Management Report / Kobold Vorwerk Folletto with its registered offices in Milan/Italy was once again able to increase its revenue considerably and remains the strongest Kobold sales company. Vorwerk Folletto achieved a new record level of EUR 450 million (an increase of 4.7 percent compared to the previous year) and defended its position as undisputed market leader in Italy. Vorwerk Folletto was established as long ago as 1938 and was the first foreign subsidiary of Vorwerk & Co. KG. Over the years, the term “Folletto” has become a synonym for vacuum cleaners in Italy. In Germany, the second largest sales country, revenue decreased to EUR 170 million (a fall of 6.5 percent) in the course of the switch to the new sales system. Kobold Germany once again sees good opportunities for growth in the coming years: the new multichannel approach will make it easier for potential customers to access Kobold products. The Kobold customer adviser will become established in a predefined area as a competent contact person on all aspects of cleaning. This system is not only appealing for customers, but also for advisers. In parallel, the e-commerce offerings are being extended. The Vorwerk Shops – mainly former service centers that have now moved to good city centre locations – will enable the brand a far greater public presence. And with opening of the first flagship store on Hamburg’s Jungfernstieg in December 2011, Vorwerk now reaches new target groups and clearly positions itself as a modern and innovative market player. The strategy’s core remains people-based direct selling: all the channels are closely interrelated and the customer can still rely on their adviser’s consultation expertise after purchasing in a shop or online. Of the somewhat smaller Kobold countries in terms of revenue, China, Spain and Japan contributed to the positive development of the division. Sales increased slightly in China and reached EUR 34 million in the year under review. Vorwerk therefore numbers among the market leaders in the vacuum cleaner segment and will profit from the growth rates expected in this sector in the coming years. The positive development in Spain (revenue in 2011: EUR 19 million, plus 15.2 percent) could not have been expected in view of the general economic situation on the Iberian Peninsula. The measures already initiated there in 2010 to enhance the motivation of the Spanish sales advisers and the cautious fine-tuning of the sales system have had sustained, positive effects. Japan, a relatively small sales country, could even record an increase in revenue (sales in 2011: EUR 4.5 million, plus 16 percent); the same is valid for Switzerland. The sales companies in Austria and the Czech Republic are slightly below the level of previous year. The same also applies for exports channeled through independent distributors. In the coming years, the focus of the Kobold Division will be on strengthening and further developing the existing sales companies. The strategic measures already initiated and the modifications to the sales systems, particularly in Germany, and the product policy have created the preconditions for continued positive development of the division in the coming years.
Happy Quinceañera! Day 5,479 (15) That’s life in / Argentina / 17 The best birthday of all for every girl in Argentina is her quinceañera, her sweet fi � eenth, which according to ancient custom marks her coming of age. On this day, the daughter of the house is decked out in a magnifi cent gown that could be a wedding dress – except that it’s pink. This pleases her parents, too, because it means they still have a few more years to go before the big day arrives when she is all in white …
Page 3: Report on the 128th fi nancial year
Page 6 and 7: 4 / Contents Contents 6 A Review of
Page 8 and 9: 6 / A Review of Vorwerk A Review of
Page 10 and 11: 8 / A Review of Vorwerk INTERNATION
Page 12 and 13: 10 / That’s life in / CHINA Hello
Page 14 and 15: 12 / Management Report / General Se
Page 16 and 17: 14 / Management Report / General Se
Page 20 and 21: 18 / Management Report / Thermomix
Page 22 and 23: 20 / That’s life in / ITALY Va’
Page 24 and 25: 22 / Management Report / JAFRA Cosm
Page 26 and 27: 24 / That’s life in / MEXICO
Page 28 and 29: 26 / Management Report / Vorwerk En
Page 30 and 31: 28 / That’s life in / THAILAND Th
Page 32 and 33: 30 / Management Report / akf group
Page 34 and 35: Where Now? Day 16,525 (45) It alway
Page 36 and 37: 34 / Management Report / Vorwerk Ca
Page 38 and 39: 36 / That’s life in / FRANCE } Ja
Page 40 and 41: 38 / Management Report / Human Reso
Page 42 and 43: Bye-bye! Day 29,978 (82) Goodbye, a
Page 44 and 45: 42 / Management Report / Assets and
Page 46 and 47: 44 / Management Report / Opportunit
Page 48 and 49: 46 / That’s life “Every man is
Page 50 and 51: 48 / Consolidated Financial Stateme
Page 64 and 65: 62 / Companies in the Vorwerk Group
Page 66: 64 / Imprint Sources Romy Blümel,

So ist das Leben /That's life / C'est la vie / Así es la vida / È la vita ...

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