Meridian Audio expands global retail network
Meridian Audio, the renowned British manufacturer of state-of-the-art audio and video entertainment systems, announces the opening of eleven new boutiques in Asia, the Middle East, Europe, Russia, and South America.
A notable British exporter of luxury technology goods, the Cambridgeshire-based company will open its new stores by the Spring of 2011. Meridian unveiled its first stand alone boutique in Bangkok in November 2009, followed in 2010 by Santiago (Chile) in September, Mexico City in October, Kuwait, Taipei (Taiwan), New Delhi and Bangalore (India) and Moscow in December. Further outlets in the United Kingdom, Moscow, Singapore and Beijing (China) are scheduled to be unveiled in the first quarter of this year.
With 85% of its products sold outside the UK, Meridian Audio’s export sales value increased by 12 % between 2008 and 2009. Sales grew by 17% in the UK and by just under 13% globally during the same period.
Meridian Audio’s Chief Marketing Officer, Graeme Taylor explains: “While our products are made in Britain with a regional workforce, we take a global view at every level of our business. This philosophy combined with increasing wealth in emerging markets and a growing desire for quality British manufactured products have resulted in demand outstripping supply for our products in 2010. For instance, our latest CD player, the 808.3 Signature Reference model, currently has a six-week waiting list.”
The new retail centres will be operated in conjunction with Meridian Audio’s existing distributors in each territory, and will be situated at some of the world’s most exclusive addresses from Avenue Presidente Masaryk in Mexico City to the Seven Zones Interior Design Centre in Kuwait and the Mitsukoshi department store in Taipei.
Founded in 1977 by Bob Stuart and Allen Boothroyd, the organisation was independent, until the Muse SA group which is owned by Reinet Investments SCA, a subsidiary of Richemont, the Swiss-based luxury goods group, purchased a holding in 2007.
Today, Meridian has become one of the most highly regarded marques in the high-end consumer electronics market, and has announced its expansion into the automotive sector. The company is providing in-car entertainment systems to the next-generation of premium Range Rover vehicles, starting with the Evoque model which debuted at last year’s Paris Motor Show followed by its 5-door version announced at the Los Angeles Auto-show. Meridian also entered into a partnership in January 2010 with McLaren Automotive for its MP4-12C supercar. The first vehicles containing Meridian sound systems will go on sale in 2011.
Since the creation of the company, Meridian has won over 165 international awards for exquisitely stylish and innovative products, and currently boasts six core product ranges sold in 70 countries. The company’s ethos is to improve how we listen to music, and deliver the highest and purest level of audio and visual performance available.
