Loewe back in business

German TV brand, Loewe, is back in business. Investment company, Skytec, took over the company in December and has reported it will take over some factory space at the company headquarters in Kronach, Germany with 45 new employees.

The new management team said it is working hard to restore the supply chains so that from April 2020 onwards most of Loewe’s well known portfolio can be offered again, with a team of nine sales staff looking after existing and establishing new trading partnerships from next month.

In order to restart production, Loewe has partnered with LG Display and other manufacturers of panels and key components to ensure that most of the current Loewe portfolio can be be made available.

Vladislav Khabliev, CEO of Skytec, commented: “After the takeover of Loewe, we very quickly sought contact with suppliers and industrial partners and received extremely positive feedback and comprehensive support for our plans.”

This support also comes from Chinese manufacturer, Hisense, which also offered to take over Loewe last year after the brand was declared bankrupt in July. This was confirmed by Aslan Khabliev, CEO of the newly founded Loewe Technology GmbH, after a meeting with the Hisense leadership team at the CES show in Las Vegas.

The technology partnership between the two companies that has existed since 2013 should remain in the future and even be expanded, it was reported.

Mr Khabliev confirmed the ambitious schedule for the introduction of new products, with a plan to also exhibit the first products under new management scheme at IFA 2020.

The line-up is set to include both TV sets and a brand-new portfolio of audio products. In addition, Mr Khabliev builds on the successful history of the company as an industry and innovation leader and promises new technologies.

With a view to trade, the launch of a new platform for Loewe after-sales and support services is also planned for IFA 2020. This should also be rolled out to other European countries.

“We want to get started quickly with the development of new products at the traditional location in Kronach,” added Mr Khabliev. “Until these are ready for the market, we will continue to maintain most of the previously known portfolio in the TV segment and in other areas. This means planning security for the trade. But end customers can also continue to rely on the Loewe brand because the supply of spare parts is guaranteed.

“Our goal is to reposition Loewe as an international premium brand for sophisticated consumer electronics. Until then, we can now guarantee continuity with the proven high product quality to the trade and also to our end customers and fans of the brand. This is also a strong signal to our retail partners who can continue to rely on Loewe in the future when it comes to stylish entertainment and iconic ‘Engineered in Germany’ design.”