Published on January 29th, 2015 | by The GC Team0
Onkyo and WOOX partner to drive growth in headphones and connected speakers
Onkyo and WOOX Innovations have entered into a comprehensive long-term partnership spanning product development and distribution, initially focusing on creating high-fidelity Bluetooth speakers and headphones under the Onkyo brand.
WOOX, the former audio and lifestyle entertainment business of Netherlands-based Royal Philips, was acquired by Gibson Brands in June 2014, following the partnership entered into by Onkyo and Gibson in January 2012.
The agreement advances Gibson Brands’ ambition to become the largest music lifestyle company in the world.
“The partnership with WOOX Innovations presents a great opportunity for growth, both through collaboration on product development and through WOOX’s extensive global sales organisation, which is present in more than and manages sales in over 100 countries,” said Munenori Otsuki President and CEO of Onkyo Corporation. “Onkyo has long been highly regarded for its development of audio and speaker products, and with this partnership we will accelerate growth and improve our business performance.”
Wiebo Vaartjes, CEO of WOOX Innovations, said the announcement is an important step forward in the implementation of its multibrand strategy, in which it will collaborate with its partners in Gibson Brands to create and bring to market innovative products across a range of brands.
“Onkyo has a great heritage, advanced technology capabilities and a strong brand. This partnership will create value for our companies, for our retail customers and most importantly for consumers,” Vaartjes added.
As a result of the partnership, Onkyo, a leader in providing hi-res audio, and WOOX said they will be able to respond quickly to changing user needs and rapidly advancing technology. Focusing on fast-growing market segments, the two companies will introduce products designed around users’ lifestyles.