Premium European TV brand Loewe is taking over several of struggling audio Company Bang & Olufsen stores in Europe, including in Denmark where Bang & Olufsen products are designed as the Danish Company struggles to deliver profits in a difficult market.
Shortly Loewe, who are well known for their premium TV’s will, as exclusively revealed by ChannelNews, launch a new range of Loewe appliances, in a move that has seen a battle emerge between The Good Guys, who are returning better ASP selling Loewe TV’s than discounted models from Samsung and LG, and Harvey Norman who also want to sell Loewe TV’s and appliances.
The move to take over Bang & Olufsen stores comes ahead of Loewe moving to manufacture their own OLED panels, they are also tipped to launch a new range of TV’s next year.
In Europe Analysts in referring to Bang & Olufsen claim that “Some stocks are best avoided” with the share price of the premium audio Company falling 96% during the past five years.
During the past quarter, the stock has fallen 24% with questions now being raised as to whether there is enough business being generated in Australia to support their Australian stores.
Loew is 100 years old
The Company is also facing problems in China once a key market for the Danish brand with sales falling 65%.
Back in July 2023 B&O reported an 18% fall in revenue with the business reporting “Low demand” from Australia and New Zealand.
During the past 12 months the stock has declined 31% with the Company failing to make a profit in the last twelve months.
In the last five years Bang & Olufsen saw its revenue shrink.
While the broader European share market gained around 24% in the last year, Bang & Olufsen shareholders lost 31%.
In Australia former Bang & Olufsen distributor Aqipa dumped selling the Companies consumer speakers due to poor sales and warranty problems.
