The mysterious circumstances enveloping high-end electronics manufacturer Classé, part of the B&W Group, that we first reported on last week appear to be continuing. There has been a new development – a new communication about the matter to Classé dealers by owner B&W Group. But imprecise wording – perhaps done intentionally – only serves to keep the situation unclear…and dealers debating…
Strategy
Are Amazon Geeks Geekier than Best Buy’s?
Amazon Tests In-Home Installations
Recode is reporting that Amazon is testing an installation service for smart home products in several key test markets – in direct competition with Best Buy’s Geek Squad. While these two giants battle over the rights to install smart home solutions into the home, where does this leave the independent integrator?
See more of what we learned from Recode… [Read more…] about Are Amazon Geeks Geekier than Best Buy’s?
New Mystery: Has Classé Closed?
Fact? or Fiction?
Less than a week after we reported that B&W Group President Doug Henderson had been summarily dismissed from the company he has been a key executive at for more than a decade, the rumor mill has fired up again with word that Classé has been closed down. Classé, like B&W Loudspeakers, is owned and distributed by B&W Group Ltd., a company recently acquired by EVA Automation. Multiple sources are suggesting that EVA owner Gideon Yu has decided to cease operations at the high end manufacturer of audio electronics.
See what we found out from B&W Group about Classé… [Read more…] about New Mystery: Has Classé Closed?
Reformulated Russound is Ready to Rumble
In an extended meeting with Russound CEO Charlie Porritt and Vice President of Product Development Colin Clark, Strata-gee had the opportunity to learn details of the relatively dramatic developments at the company – many taking place behind the scenes – that management has undertaken over the last few years to better position the company for the future. Like a fighter with a new trainer who has put him on a strict diet and rigorous training regimen, Russound has emerged from an at-times painful multi-year process leaner and meaner…and ready to rumble.
Find out what we learned about the meaningful changes at Russound… [Read more…] about Reformulated Russound is Ready to Rumble
Bowers & Wilkins Notifies Dealers of Henderson’s Departure
STORY UPDATE
Shortly after we published our BREAKING NEWS report on the Bowers & Wilkins dismissal of President Doug Henderson, we obtained a copy of an email that was apparently sent by the company to all B&W dealers explaining the situation. We’d like to be able to say this note answered all questions surrounding the upheaval their actions caused, but it raised as many questions as it answered.
See the email Bowers & Wilkins sent to their dealers on Henderson’s departure… [Read more…] about Bowers & Wilkins Notifies Dealers of Henderson’s Departure
Management Turnstile Turns Again at Thiel Audio
BREAKING NEWS
We learned this week that Thiel Audio (Thiel) has had another significant round of layoffs, including CEO Tom Malatesta, Chief Revenue Officer Stuart Levine, Director of Music Industry Relations Mark Mason (no relation to engineer Mark Mason who left much earlier), as well as two other lower level staff – who have all been let go within the last six-to-eight weeks. Furthermore, Chief Brand Officer Rebecca Abrahams, who led the launch of their Aurora live music performance and streaming studio, left the company in January of this year. No reason was given for any these separations and, true to form, Thiel has made no official public announcement regarding the dismissals.
See more on this new turn of the turnstile at Thiel… [Read more…] about Management Turnstile Turns Again at Thiel Audio
Samsung Display Plans to Build the World’s Largest OLED Factory
In news out of Korea, we learn that Samsung Display is planning to build the world’s largest OLED manufacturing facility in a bid to hold off Chinese competition in the increasingly popular technology. Samsung’s board of directors are expected to meet this month to approve the plans and the investment.
See more on this major move on OLED by Samsung… [Read more…] about Samsung Display Plans to Build the World’s Largest OLED Factory
Gibson Brands Takes Control of Onkyo Corp.
BREAKING NEWS
In a filing with Japan’s JASDAQ stock exchange, Onkyo revealed this week that at the end of June, major investor Gibson Brands became the largest shareholder for the first time since its relationship with the Osaka-based manufacturer of higher-quality electronics began in 2012. This small announcement portends a potentially significant change in the relationship between the two entities.
See more on this news out of Japan about Gibson and Onkyo… [Read more…] about Gibson Brands Takes Control of Onkyo Corp.
Legrand Acquires Milestone in Largely a Commercial Play
France’s Legrand announced today it has signed an agreement to acquire Milestone AV Technologies in a deal valued at $950 million. The deal is another example of continued industry consolidation, although in this case, it was largely a play by Legrand for Milestone’s predominantly commercial business rather than the residential portfolio.
See more on this deal which is twice as big as any previous Legrand acquisition… [Read more…] about Legrand Acquires Milestone in Largely a Commercial Play
PE Firm General Atlantic Sells Its Stake in SnapAV
BREAKING NEWS
SnapAV announced today that General Atlantic, its private equity partner, has sold its ownership interest in the company to San Francisco-based Hellman and Friedman, another private equity group. The move, while unexpected, is not unusual in the world of private equity – especially in the case where a portfolio company transitions stages of growth that move it beyond the the investment strategy of the PE partner as compared to when the investment was initially made.
