Shakeup Looms In OZ Sound Market As Gibson Brands Flex Their Muscle
Late last year Gibson Brands set up a Sydney office, WOOX Innovations is a Gibson Brands company and a brand licensee of Royal Philips, insiders are tipping a shakeup in the distribution of Philips Audio and Onkyo products in Australia as a result of the introduction of new management.
The two companies Woox and Onkyo will initially focus on creating high-fidelity Bluetooth speakers and headphones under the Onkyo brand, the results of which will be seen in new products due to be launched in April 2015.
“The partnership with WOOX Innovations presents a great opportunity for growth: both through collaboration on product development and through WOOX’s extensive global sales organisation, which is present in more than and manages sales in over 100 countries”, said Munenori Otsuki, President, CEO of Onkyo Corporation.
“Onkyo has long been highly regarded for its development of audio and speaker products, and with this partnership we will accelerate growth and improve our business performance.”
WOOX, the former audio and lifestyle entertainment business of Netherlands-based Royal Philips, was acquired by Gibson Brands in June 2014. This follows the strategic partnership entered into by Onkyo and Gibson in January 2012. The agreement further advances Gibson Brands’ ambition to become the largest music lifestyle company in the world.
“Today’s announcement is an important step forward in the implementation of our multibrand strategy, where we will collaborate with our partners in Gibson Brands to create and bring to market innovative products across a range of brands,” said Wiebo Vaartjes, CEO of WOOX Innovations.
“Onkyo has a great heritage, advanced technology capabilities and a strong brand: this partnership will create value for our companies, for our retail customers and most importantly for consumers.”
“We have a busy year ahead and are excited to be able to work with a new range of Onkyo products later this year. It is a company with a great heritage, advanced technology capabilities and a very strong brand.” said Tracey Duff, Business Leader for Australia and New Zealand at WOOX Innovations.
Onkyo is a leader in providing hi-res audio. Its Hi-Res music download store, e-onkyo music, is the largest Hi-Res music download store in Japan where it has been running since 2005. In January 2015 Onkyo announced the launch of Hi-Res music download stores in the US, UK and Germany. The company continues to pioneer Hi-Res audio across the full music chain from creation and recording to listening. This includes developing a new method of enjoying Hi-Res audio in a non-PC environment and introducing products capable of working with Master Quality Authenticated (MQA), a new audio format for high-resolution music sources developed by Meridian.