Techtronic Industries - TTI: The Cordless Tools Leader
The world's cordless power tools leader - a success saga
As a leader in the design, manufacture, and marketing of Power Tools, Outdoor Power Equipment, Floorcare and Cleaning products, TTI has long been well-known for its innovative brands such as Milwaukee (Industrial Power Tools), RYOBI (Do-it-yourself/Consumer Tools) and Hoover (Floorcare and Cleaning).
In particular, these brands are recognized worldwide for their heritage values and cordless product platforms of superior quality, outstanding performance, absolute safety, high productivity, and breakthrough creativity.
With more than 44,000 employees worldwide and led by a world-class team and an exceptional people training and development strategy, the business success of TTI is realized thanks to the contribution, enthusiasm and creativity of its members.
In addition, TTI has demonstrated its footprint not only through solid financial performances but also through sustainable commitments when it decreased emissions intensity by 4% resulting in a total reduction of 6000 tonnes of CO² emissions.
On March 24, 2023, TTI officially signed a letter of commitment to Science Based Target Initiatives (SBTi), thereby aligning TTI with the mission of the Paris Agreement and demonstrating TTI’s dedication to reaching the reduction goal of a 60% absolute reduction in Scope 1 and Scope 2 GHG Emissions by 2030.
TTI has operating locations worldwide, including production, R&D facilities, sales, marketing and administrative offices. TTI's Innovation Center in South Carolina and the Global New Product Development Center at Milwaukee Headquarters enhance its ability to deliver a broad range of disruptive products to the market.
With an extensive network of customers and leading US distributors such as The Home Depot, Walmart and Amazon, etc. TTI's 2022 revenue reached more than USD 13 billion globally, gross profit margin increased 39.3%, with the North American market accounting for 77.2% of the total sales (USD 10.2 billion).
In particular, Milwaukee - a heritage brand from the US with more than 150 years of history, is also the fastest-growing brand in the professional cordless power tool market, with a remarkable growth of 21.8% in the 2022 financial year in domestic money. Milwaukee Power Tool is headquartered in the Milwaukee suburb of Brookfield, Wisconsin, USA, with operating facilities for researching and developing new products, manufacturing, manufacturing support, sales and marketing, and information systems in the United States, Asia, and Europe.
In addition, RYOBI is also rated as the No. 1 brand in the industry of power tools and outdoor power equipment for consumers (Do-It-Yourself, "DIY") with over 280 products consisting of drills, drivers, saws, trimmers, polishers, lawn mowers, hedge trimmers, and blowers.
The pioneering brand for the revolution in the Vietnamese cordless tool market
TTI's continued growth is a testament to its success in excellent operations and geographical expansion, enabling the company to occupy the world's cordless tools leader rapidly. From 2020 to 2022, TTI excelled in diversifying its manufacturing operations into Vietnam, Mexico, and the United States.
|TTI believes that Vietnam not only possesses the potential to connect to the global supply chain network but also has a significant advantage in terms of young human resources and the openness of policies.|
The company invests in developing Vietnamese talents through the leadership of a diverse and experienced global management team with a sound understanding of the Vietnamese market.
Commencing operations in Vietnam in August 2018, TTI has developed a nationwide system with over 9,000 employees (as of December 2022), eight manufacturing facilities, and a representative office in Ho Chi Minh City and the Milwaukee Heavy-Duty Center in Ho Chi Minh City and Hanoi. All of TTI’s business divisions, namely Industrial Power Tools, Consumer Power Tools, Outdoor Products, Floorcare & Cleansing have their presence in its Vietnam operation.
The Group constantly focuses on innovation to deliver cost-effective and labor-saving products to consumers and professionals while improving efficiency and productivity.
|TTI products are globally recognized for their ease of use and dependable durability.|
Caption: TTI products are globally recognized for their ease of use and dependable durability.
One of TTI’s most notable contributions to community development lies in its commitment to carbon emission reduction in the production process, reflected in the project to build a modern LEED-certified production facility in Saigon Hi-Tech Park (SHTP). On top of that, TTI is also working with local suppliers to implement various initiatives to protect the environment through a responsible sourcing strategy.
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