Vitec Buys JOBY, Lowepro to Control Photo Accessories Market
Vitec Group, owners of popular photographic brand Manfrotto, have announced their acquisition of the brands JOBY and Lowepro, adding to their worldwide presence of now 22 "high quality and recognized brands." The company stated that this move will enable them "to become the global leading provider of accessories within the newer and fast-growing iPhonography and vlogging markets as well as strengthen their position within the photographic bags market."
JOBY is well-known for their GorillaPod accessory that "transformed the camera accessories market" by allowing mobile devices to be attached to many surfaces for photographic purposes. Lowepro, a brand of outdoor camera bags, is supposed to complement Vitec's own Manfrotto brand, which focuses on urban and studio photographers.
Vitec's plan is for them to integrate the purchased brands into their Photographic division, under an existing organizational structure led by its Chief Executive Marco Pezzana.