Loewe, a German luxury TV manufacturer, has announced its return to the market following a significant investment from Skytec Group Ltd.
It was announced in June 2019 that the TV manufacturer had gone bankrupt and shut down. However, in the following January, it was reported that Skytec Group had taken over Loewe.
Intent on learning from any previous shortcomings having suspended operations in 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 savvy strategic partnerships.
A recently formed partnership with Hisense has solidified the strength of the bond by moving onto Loewe’s lot in Kronach, Germany. This partnership has led to the development of a new operating platform, due to launch this month, alongside various advancements in contemporary technology to rival the current crop of competitors, 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.
In addition, Loewe is offering a five-year pan-European warranty on all core product sales, and the Loewe UK subsidiary is housing spare parts in the UK via global-wide service partner, Let Me Repair, which is based in Glasgow. This guarantees faster delivery times for dealer and, in turn, swifter resolutions for customers.
There are currently around 150 employees at the Loewe HW 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.
The brand is now in the process of rebuilding its supply chain with dealers both old and new throughout the UK, who will benefit from local stock holding for the first time since 2007.
“We are delighted to bring Loewe back to the market with the help of Skytec Group Ltd,” said 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.”