Around six months ago Loewe shut down following failure to gain further investment. However not all is lost for the famous German luxury TV maker, as it manages to get a new owner with investment firm Skytec.
"We are thrilled to write a new chapter in the success of Loewe and to expand the brand internationally in premium segments for sophisticated consumer electronics. Loewe is the go-to brand for consumers valuing independent style and iconic, timeless design," Skytec says. "We will further develop this approach with luxury designer labels and premium automotive brands. Synergy with history and future is essential. Loewe has successfully reintroduced traditional materials to their products which meld seamlessly with state-of-the-art technology."
The Loewe owner adds it will support Bavaria as a research and development hub, with CEO Vladislav Khabliev leading a team of "creative and strategic minds" to drive the TV maker into an "exciting new decade." As such, Skytec promises product launches for IFA 2020 and, interestingly, Mobile World Congress, where Loewe will enter the smartphone category. Furthermore, the firm is set to launch white goods come 2021.
"Skytec has immense experience in repositioning already powerful brands such as Blaupunkt and Sharp. It is with proven successes and expertise that Loewe will undoubtedly be the next success story," Khabliev adds. "Loewe becomes part of our DNA as it joins the family business. We have a long-term commitment, dedicated strategic teams and expert resources. Smart investments, international sustainability partners and decades of combined experience will ensure success. Our plans are fierce and enthusiastic."
Go Skytec Group Ltd Assumes Control of Traditional Electronics Firm Loewe