[THE INVESTOR] Samsung Electronics plans to use the US corporate brand Dacor, which was acquired by the South Korean firm last month, for its new lineup of luxury home appliances, a company executive said on Sept. 2.

Samsung purchased the California-based company in early August, expanding its business portfolio into ultra-premium home appliances in the US market.

Yoon Boo-keun, president of Samsung’s consumer electronics division, told reporters on the sidelines of the IFA tech fair in Germany that Samsung is preparing to launch its premium brand under the name of Dacor.

Yoon said the Dacor brand will also be used in the European market.

Based in southern California, Dacor has produced professional-quality cooking ranges for homes and in-home ventilation hoods.

Samsung raised its share in the U.S. home-appliance market for the second quarter of this year, widening its lead over competitors, according to market estimates.

(theinvestor@heraldcorp.com)