Paybacks for French World Cup Win Will Not Hurt It, China Appliance Maker Vatti Says
Xu Wei
DATE:  Jul 02 2018
/ SOURCE:  Yicai
Paybacks for French World Cup Win Will Not Hurt It, China Appliance Maker Vatti Says Paybacks for French World Cup Win Will Not Hurt It, China Appliance Maker Vatti Says

(Yicai Global) July 2 -- Vatti instituted a marketing campaign with the slogan, 'Vatti Will Give Full Refunds If France Wins.' With Team France now cruising to the final eight, the company has preemptively stated that a full refund will not materially impact its operating results.

Vatti is a well-known Chinese kitchen and bathroom appliance maker based in China's southeastern Guangdong province. It became an official sponsor of the French National Men's football team on March 1. If France's squad claims the World Cup 2018 Russia, it will fully refund all its World Cup-themed 'Winning Package' products bought from 0:00 a.m. June 1 to 10.00 p.m. June 30, it announced on its website May 30.

"If the team does indeed win, the refund will truly be a tidy sum, but well within the annual marketing budget, and will not exert a material impact on its operations results," said Wang Zhaozhao, a Vatti securities representative.

"Furthermore, Vatti headquarters and dealers jointly assume these marketing costs, with headquarters defraying the e-commerce channel costs, and dealers ponying up for the offline channels. They go Dutch on marketing costs, and even if Vatti does have to pay, this is only our cost price. The marketing effect thus far has been entirely satisfying," he added.

Editor: Ben Armour

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Keywords:   Vatti Corp.,French National Men's Football Team,WORLD CUP