Content area
Full text
ATLANTA - Gibson Brands continues to raise its consumer electronics profile.
The privately held company, previously known for its musical instruments and pro audio equipment, acquired the Stanton Group in December 2011, including the Cerwin Vega home and pro-audio speaker businesses as well as KRK Systems' pro-audio business and Stanton DJ's professional-DJ equipment business.
In early 2012, Gibson purchased 51 percent of Onkyo USA from Japan-based Onkyo and became Onkyo Japan's second largest shareholder by buying about 15 percent of that company's shares. In May 2013, Gibson closed on its purchase of a 54 percent stake in Japan's Teac, which offers consumer and pro audio and other electronics.
Then in June 2014, the maker of iconic Gibson guitars acquired Woox Innovations - the former audio, Blu-ray, multimedia and accessories manufacturing and marketing business of Philips. And in January, Woox announced a distribution and development deal with Onkyo to develop Onkyo-brand headphones and Bluetooth speakers.
In April of this year, Gibson Brands will launch a dedicated sales and marketing organization, Gibson Innovations USA, to markets select products in the U.S.
With the most recent changes in mind, TWICE asked Todd Richardson, executive VP/general manager of the new Gibson Innovations USA group, to piece it all together and outline his group's responsibilities.
Here's what he had to say:
TWICE: What role does Woox Innovations play within the Gibson Brands corporate structure?
Richardson: Gibson Brands has a strong portfolio of music brands across the full journey of creating, recording and experiencing music. Gibson Brands acquired Woox Innovations - the former audio, video, multimedia and accessories business of Dutch technology giant Philips - in June 2014. In 2015, Woox Innovations is changing its name to Gibson Innovations, and we're essentially now that consumer division of Gibson Brands, alongside its pro-audio and musical instrument businesses.
TWICE: Woox Innovations has a distribution and development deal with Onkyo to develop Onkyobrand headphones and Bluetooth speakers. When will the jointly developed products debut in the U.S.?
Richardson: We're really excited to be working with the Onkyo team. It's a long-term partnership, and initially we're focusing on headphones (wired and wireless) and Bluetooth speakers....