Vatti fully refunds buyers after France win

A listed Chinese high-end kitchen appliance provider started a promised full refund after France lifted the World Cup trophy, The Paper reported on Monday morning.

If France claims the title at the 2018 FIFA World Cup, the company will refund customers who buy designated products between June 1 and July 3 according to the invoice value, Vatti said in a promotional release during the tournament.

Offline sales volume for designated products amounted to 50 million yuan ($7.46 million) during the promotional period, accounting for about 7 percent of total offline sales volume — more than 700 million yuan, Vatti said on July 4.

Online sales volume for designated products amounted to 29 million yuan ($7.46 million) during the promotional period, accounting for about 9.67 percent of total online sales volume of more than 300 million yuan.

What's more, during the promotional period, Vatti's offline sales saw a year-on-year growth of 20 percent and 30 percent for online sales.

Total cost of the refund to the company is expected to stand at less than 79 million yuan, and have little impact on the bottom line.

Vatti realized sales revenue of 5.73 billion yuan in 2017, rising 30.39 percent over the previous year.

Vatti's share price registered a growth of over 4 percent in Monday's morning session.