Strategy in TECH...
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.
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.
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.
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.
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.
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.
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.
Based in Missoula, Montana, Vann’s Inc. has been a shining star of the retail business – for years a hearty player in a rugged part of the country where only the strong survive. Founded in 1961 by Pete Vann, the company has steadily grown over the years – adding locations, diversifying retail formats, and even expanding into online sales. But signs of stress began to emerge this year with the company closing one location in February, then replacing long-time CEO George Manlove in June with a CEO from outside the company, losing the support of a key lender in July, and finally declaring bankruptcy just a little over one week ago.
