Klipsch Group Restructures to Double Retail Sales
Jacobs just logged in 27,000 miles in 17 days to outline the restructuring for existing and non-traditional retail partners. While the group will maintain its support of traditional CE dealers, it needed to restructure, transition its brand positioning and seek new partners because the way in which consumers buy, discover and experience new products has changed so much in the last few years, he said. While high-end audio enthusiasts wouldn't think of buying anything before listening to it at their favorite dealer, there's a whole legion of younger consumers that buy a variety of audio products based solely on recommendations through an e-tailer or non-traditional retailer.
"We're looking at where people want to buy our products ... where they're inspired to buy our products," Jacobs said, adding that the company will still focus on disciplined sales strategies no matter the outlet.
During his trip, Jacobs told retailers he would double their sales of Klipsch Group products and increase their ASPs. That's where the transition to "lifestyle" comes in. The company, for example, recently partnered with the popular rock band Kings of Leon on a number of special events and is sponsoring its current North American tour. Klipsch will also continue its brand sponsorship of live music venues in major U.S. cities. Those strategies allow the Klipsch Group to creatively market and showcase its products unique settings, target an interested audience, and reach new demographics.