This week we learned that 11 Trading Company…part of Premium Audio Company…which itself is part of Voxx International (love those big corporate structures), has added the only remaining Onkyo brands – Teac & Esoteric – to their distribution line list. They did not include these brands in the original announcement of their agreement with Onkyo, but most people expected it to be added in time. With this new development we get a nice progression of the budding relationship between the companies – Voxx distributing Onkyo, Integra, Pioneer, Pioneer Elite, Teac & Esoteric – while Onkyo Corp. becomes the Klipsch distributor in Japan. Where could this be heading?
Warns that Sensitive Employee & Contractor Info Compromised
VOXX International Corporation (NASDAQ:VOXX) revealed this week that they were the victim of a ransomware attack in July and that an assessment of the hack completed early this month shows that sensitive and confidential employee and contractor information has been compromised. The company has issued a warning to all employees and contractors who have worked for the company over the last 20-years.
See more on this surprising VOXX ransomware attack…[Read more…] about VOXX Int’l Reveals It’s Been Hit By a Ransomware Attack
A Strangely Retroactive Notification
Last week, a letter was sent to all Onkyo dealers in the United States notifying them that their dealer agreements were being terminated. The reason for this termination? Onkyo USA Corporation no longer exists and therefore can no longer serve them. Don’t miss the significance of this historic moment – for the first time in 45-years there is no Onkyo subsidiary in the U.S., once the largest market for parent Onkyo Pioneer Corporation (OPC) of Osaka, Japan.
See more about this turn of events at Onkyo…[Read more…] about Onkyo Closes US Subsidiary, Terminates Dealers, and Outsources Distribution to Klipsch
Voxx Expects Big Growth; That May Be a Bigger Challenge Than Anticipated
As part of an internal restructuring to accommodate their recent acquisition of the distribution rights to certain Onkyo brands, Voxx International Corporation announced this week that it has renamed the existing Klipsch Holding LLC to the rather generically named Premium Audio Company LLC. This is just the first change, as I’ve learned more announcements are just around the corner.
See more on the Voxx & Klipsch plans for Onkyo…[Read more…] about Making Space for Onkyo Brands, Voxx Announces Subsidiary Reorganization
Showing they can effortlessly walk and chew gum at the same time, SnapAV announced today the have reached a distribution agreement with Klipsch – an action they are taking while still in the middle of the process to buy Control4. As SnapAV has taken aggressive actions to grow their distribution infrastructure, they have been seeking these types of partnerships with brands to help better leverage their investment. This new agreement with Klipsch helps drive that goal.
See more details on SnapAV’s distribution of Klipsch…[Read more…] about SnapAV and Klipsch Join in Distribution Partnership
Klipsch is doing something good with a portion of their anticipated increased holiday website revenues during the upcoming Black Friday to Giving Tuesday time period. The company will donate a portion of their proceeds to The Autumn Leaves Project – a nonprofit organization that is dedicated to aiding those who are battling one of the deadliest illnesses known, pancreatic cancer.
Read more about Klipsch using Black Friday for this charitable purpose… [Read more…] about Klipsch Black Friday Proceeds to Aid Cancer Patients
Klipsch announced today it has launched an entirely new line of on-wall speakers, designed to augment on-wall flat panel TV installations with richer, more dynamic audio. This new series of products, called the Reference Premiere Designer On-Wall speakers take up minimal space, while delivering maximum sound.
See more on Klipsch Reference Premiere Designer On-Wall speakers… [Read more…] about Klipsch Gets It On…On-Wall, That Is
Industry Veteran Tom Jacoby is AVAD’s New CEO
News comes this 4th of July holiday week that Ingram Micro, itself just recently acquired by a Chinese shipping company, has sold off AVAD, LLC and AVAD Canada Ltd., to Kingswood Capital Management, a private equity company. In an announcement from Kingswood, the company says it has brought in a new upper management team – including a new CEO, industry veteran Tom Jacoby.
See more on the sale of AVAD to private equity… [Read more…] about AVAD Sold to Private Equity Company
Klipsch announced this week that it has signed an endorsement agreement with Indianapolis Colts quarterback Andrew Luck to serve as its official brand ambassador. The company says that Luck will bring a “fresh perspective” and “creative inspiration” to the brand.
See more on this new endorsement deal… [Read more…] about Klipsch Hopes to Add a Little Luck to Their Team
The recent CEDIA Expo was, as usual, dominated by hundreds of companies engaged in a seemingly endless and often mindless rash of line extensions – effectively burying us in a sea of products of uninspiring incrementalism. This year, however, thanks to the diligent effort of many of strata-GEE.com’s and ALERT’s readers and followers that we saw at the show – we were often pointed us in direction of some hidden gems. Thanks to you, we were successful in uncovering wisps of innovation from a few new or reincarnated companies.
One such interesting start-up, whose launch we recently reported on here, with a follow-up story here, is AudioXperts. At Expo, AudioXperts showed us an interesting new product concept they call Korners.