Chinese home appliance maker Vatti has begun fulfilling the promise it had made during a marketing campaign related to the 2018 FIFA World Cup.
As the official partner of the French team, Vatti had promised that it would give full refunds on a range of certain World Cup-related products purchased between June 1 and July 3 if France lifted the World Cup trophy.
Now that the French team have officially been crowned the winners, Vatti has published a statement on Monday detailing the refund process.
According to the statement, qualified customers should submit relevant purchasing information to Vatti for verification between Monday and July 24, and if they pass the audit, they will get a refund between July 20 and August 1.
A statement published by Vatti on July 5 noted that overall refunds, including offline and online channels, would amount to just less than 79 million yuan ($11.8 million). That compares with the 1 billion yuan in sales revenue during the campaign.
The statement also noted that the refund campaign has largely increased the brand's popularity and enhanced the company's retail business. It also noted that the campaign wouldn't have too much of an impact on the company's business and distribution system in the long run.
Vatti's share price surged by 4.45 percent on Monday morning to 15.25 yuan.
