- Jun 16, 2012
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With all the talk lately that consumers are migrating away from higher-end electronics to focus only on “value brands,” at least one value brand manufacturer needs help keeping up with the trend.
The assets of Coby Electronics Corp., a manufacturer of less expensive consumer electronics headquartered in Lake Success, N.Y., with approximately $400M in annual sales, were sold to Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sector.
Gordon Brothers Group has signed an agreement to purchase all inventory, fixtures, equipment, intellectual property, global trademarks and patents of Coby Electronics, which was founded in 1991.
The CE Pro 100 Brand Analysis 2013 revealed that many integrators were turning more toward value-branded components as their businesses shift from being reliant on product margin to being reliant on labor from installation and design expertise.
The Coby development is a lesson for both consumers and integrators that being a less-expensive, mass-market brand does not equal success. You still need to pick the right brands.
Coby’s product line includes tablets and netbooks, televisions, home theater systems, MP3 and MP4 players, speakers, home and portable stereos, digital photo frames, digital camcorders, headphones and other electronic accessories. Coby’s most popular product lines include its exclusive brands: Kyros tablets, which are powered by the Android operating system, and Jammerz headphones. Products are sold at major retailers in the U.S. and globally, including Best Buy, K Mart, Wal-Mart and Amazon.com.
Gordon Brothers Group will infuse capital into the company in support of the development of new products and go-to-market strategies for Coby that will enable an expedited return of the company’s various product lines to the marketplace.
“As a niche market leader for over 25 years, Coby’s brand recognition and wide array of products leaves it well-positioned to continue successfully serving consumers in search of
electronics at a popular-price point,” comments Robert Himmel, co-president, commercial & industrial division, Gordon Brothers Group. “Our goal over the next few months is to transform the structure of the company allowing for a flow of new products into the marketplace in late 2013.”
This transaction denotes the latest brand redevelopment initiative by Gordon Brothers Group. The firm recently completed turnarounds of Polaroid, The Sharper Image and The Bombay Company and continues to explore more brand redevelopment opportunities.
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Boston - Gordon Brothers Group signed an agreement to purchase all Coby Electronics inventory, fixtures, equipment, intellectual property, global trademarks and patents and revive the business.
Gordon Brothers said it “will infuse capital into the company in support of the development of new products and go-to-market strategies for Coby that will enable an expedited return of the company’s various product lines to the marketplace.”
“As a niche market leader for over 25 years, Coby’s brand recognition and wide array of products leaves it well-positioned to continue successfully serving consumers in search of electronics at a popular-price point,” said Robert Himmel, co-president of Gordon’s commercial and industrial division. “Our goal over the next few months is to transform the structure of the company, allowing for a flow of new products into the marketplace in late 2013.”
Gordon Brothers said it recently turned around Polaroid, The Sharper Image and The Bombay Company and “continues to explore more brand redevelopment opportunities.” The company described itself as an advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors.
Coby Electronics, founded in 1991, had about $400M in annual sales, Gordon Brothers said. Coby offers tablets and netbooks, televisions, home theater systems, mp3 and mp4 players, speakers, home and portable stereos, digital photo frames, digital camcorders, headphones and other electronic accessories. Products are sold at major retailers in the U.S. and around the world, including Best Buy, K Mart, Wal-Mart and Amazon.com.
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I'll be posting links to this in the Coby forums shortly, but anyone with a defective tablet should not be sending it to Coby. Seek a resolution through the place of purchase, explaining the situation to them.
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