TV manufacturer Loewe back in business following investment
Luxury German TV maker, Loewe, first founded in 1923 has announced its return to the market following a significant investment from Skytec Group Ltd.
Having suspended operations in July 2019, the parent company plans to work closely with Loewe to turn the manufacturer into a global TV brand over the course of the next decade by employing modern technologies and entering into ‘savvy strategic partnerships’, claims the release.
One such partnership is with state-owned electronics brand, Hisense, which has solidified the strength of the bond by moving into Loewe’s lot in Kronach, Germany. This procurement partnership with Hisense has led to the development of a new operating platform, due to launch in September, alongside various advancements in contemporary technology including integrated platforms such as Netflix and Amazon Prime as standard.
All new models will carry the hallmarks of traditional Loewe products, thanks to their sophisticated design credentials and ‘Made in Germany’ ethos.
On top of this, Loewe is bolstering all core product sales with a 5-year, pan-European warranty, and the Loewe UK subsidiary is housing spare parts in the UK via global-wide service partner, Let Me Repair, based in Glasgow. It is hoped this will guarantee faster delivery times for dealers and, in turn, swifter resolutions for customers.
Loewe now has approximately 150 people employed at its HQ in Kronach, with former management team Alan Whyte and Patricia Smith at the helm of UK operations. The UK extension will be the only European subsidiary, with renewed collaborations with major retailers such as Harrods and Selfridges already in place.
“We are delighted to bring Loewe back to the market with the help of Skytec Group Ltd.”, says Alan Whyte. “Its leadership team is filled with strong and like-minded individuals, all of whom have Loewe’s best interests at heart. Already, we are witnessing positive changes in the company’s approach, and we look forward to a bright and prosperous future for this renowned global brand.”
