Represented in around 60 countries worldwide, Bang & Olufsen - the high-calibre audio, visual and multimedia retailer - boasts a portfolio of approximately 1,000 stores globally.
“The company was started in 1925 in Denmark by two young engineers and from those humble beginnings the company has been dedicated to the best possible use of experiences – the best sound, picture and user interface,” Flyvholm says.
The company provides superior quality television, audio hi-fi, acoustic and telephone equipment for the domestic customer, as well as supplying technology to 5* hotels, and acoustic products to high-end automotive brands including Aston Martin, Audi, Mercedes-AMG and BMW.
Despite already having 90 outlets across the UK and Ireland - including concessions in Harrods and Selfridges - the company is turning its attention to the UK market in 2011.
“In 2011 we are entering into an expansion strategy for the UK where we have been quite flat for the past couple of years during the economic crisis. In the UK we expect to open 5-8 stores in 2011 and 15-20 in the next three years.
“We have just opened in Harrods, but we hope to have a few more store within the M25 in the greater and Central London area. These will be in the high income and more affluent areas where we do not currently have a store. We are also looking at Brighton, Solihull and Edinburgh.”
Speaking about the concession store at Harrods, Flyvholm said it is a key move towards a bigger presence in the UK.
“Everybody knows about the heritage of Harrods – it is a retail destination for the UK and for the whole world. Being present there with our brand is an extremely important part of our branding and awareness and we believe, from a business point of view, it will be worth our while.
“Although it already has a high reputation, Harrods has more recently focused on fewer high end brand which suits us,” he added.
On the international front, Bang & Olufsen have a much denser presence in Holland with over 80 stores already and plans for even more in the future. There are also plans for expansion in Belgium where there are currently only a couple of stores in Brussels and a store in Antwerp, which opened in November.
For the full article, please see the December 2010 issue.