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MERIDIAN EXPANDS RETAIL NETWORK
Listed under: News
Published: Friday, January 07, 2011
UK manufacturer to open 11 new stores by spring
In line with the seven such stores that the company opened in 2010, they will be operated in partnership with Meridian’s existing distributors in each territory and situated within prime retail locations – past examples of which include Taipei’s Mitsukoshi department store and Mexico City’s Avenue Presidente Masaryk.
The stores themselves are geared towards a high net worth clientele, equipped as they are with a lounge area where clients can discuss their system requirements (The Concierge Reception), a home cinema demonstration area (The Merdian Experience), a separate room containing a flexible Meridian system configuration (The Orangery) and a permanent display of noteworthy past Merdian product (The Crown Jewels).
Graeme Taylor, Chief Marketing Officer at Meridian Audio, noted that: “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.”
Meridian’s international retail efforts can also be accounted for by the fact that 85% of the company’s products are sold outside the UK. Meridian’s export sales value increased by 12% between 2008 and 2009, following the purchase of a holding in the company by the Muse SA group – a consortium owned Reinet Investments SCA, which itself is a subsidiary of Swiss luxury goods group, Richemont.
Contact: +44 (0)1480 445 678
www.meridian-audio.com
The stores themselves are geared towards a high net worth clientele, equipped as they are with a lounge area where clients can discuss their system requirements (The Concierge Reception), a home cinema demonstration area (The Merdian Experience), a separate room containing a flexible Meridian system configuration (The Orangery) and a permanent display of noteworthy past Merdian product (The Crown Jewels).
Graeme Taylor, Chief Marketing Officer at Meridian Audio, noted that: “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.”
Meridian’s international retail efforts can also be accounted for by the fact that 85% of the company’s products are sold outside the UK. Meridian’s export sales value increased by 12% between 2008 and 2009, following the purchase of a holding in the company by the Muse SA group – a consortium owned Reinet Investments SCA, which itself is a subsidiary of Swiss luxury goods group, Richemont.
Contact: +44 (0)1480 445 678
www.meridian-audio.com
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