“Lets Talk About Parting Ways” Parasound Boss Tells Dealers After Outling New Direction For Brand

It appears that shakeups and takeovers are the order of the day, among top end Hi Fi Companies with a new boss at Parasound telling dealers that if they don’t like the way the Company is going to be run going forward “Let’s talk about parting ways,”

Parasound CEO David Sheriff in an online presentation has rattled dealers with his blunt outline of where he believes the Company can go.

In Australia Parasound products are distributed by National AV Solutions with only a limited number of Hi-Fi dealers carrying their products.

Sheriff who only took on the CEO’s role six months ago outlined 15 major accomplishments he has achieved since taking on the role.

They include lowering “extraneous costs massively,” automating their packing and shipping systems, streamlining finance and admin processes, and cleaning and organizing their warehouse operation that was described as Ä mess”.

The business is also bringing product design back to the US from Taiwan, as well as terminating distributors, online sellers, and dealers.

He also claims that he wants to enforce MAP (minimum advertising price) a move that could attract the attention of the ACCC in Australia.

In the presentation he made it clear that some dealers viewing the online presentation that day will likely not agree with these plans, and that’s fine.

“Let’s talk about parting ways,” Sheriff said, looking directly into the camera without blinking.

Last year Richard Schram retired from the brand he founded and built with Sheriff stepping in to take over the business.

Sheriff recently hired Darren Myers, as Vice President of Research and Development, leading the engineering and design team for Parasound.

Sheriff said, “Darren is already one of the best in the business as a designer and he’s getting better every day. The passion, knowledge, and innovation he’s going to bring are going to bring new products to market that are going to knock your socks off in the coming years.”

Sheriff also told dealers that the company is still also working with John Curl, who has designed some of their most popular amplifiers sold by Parasound.

He told dealers that a coming “rapid expansion will be fuelled by our shared core values.” And for those partners who share and exemplify their core values, “we will be an amazing partner.”

But for those partners who don’t share their core values, Sheriff says it’s OK if you don’t, it “just means we’re just not who you need to be doing business with.”

Sheriff said they will shortly introduce a new kind of dealer he called them Parasound Champions.

This dealer must be “committed to our product and our brand,” he said.

He claims these dealers will play by the rules “and not cause drama.”

These dealers will get the best pricing and “additional incentives.” he claimed.

Sheriff told dealers that the company is going to reduce the number of entities that can call themselves authorized Parasound dealers, distributors, and sellers.

“Our product is elite we need a sales network that represents our brand to a level that we expect, and they need to understand they’re part of an elite group selling that,” Sheriff said.

The company will be rolling out its own webstore sometime over the next 45 days. This webstore will focus on selling vintage products and vintage parts, according to the CEO.