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With a name like that, you would be excused for wondering what’s going on… For those in the dark, Bang & Olufsen (B&O) is an 80 year old Danish company, well known for their state-of-the-art sound systems, televisions, speakers and telephones. With their products sold in more than 60 countries, B&O’s turnover for the year 2003-04 was approximately 486 million Euros.
B&O is now available at their newly opened showroom at the Grand Hyatt Hotel, Mumbai. Mind you, exclusive is their middle name, so the brand does not come cheap. The company already has a standalone outlet in Delhi. B&O’s brand mantra is simple: Let the party never get over!
Prekash Ramsingh, MD, B&O India, says, “Bang & Olufsen and socialising go together. Aspirational levels are at an all time high in India. We are confident this will drive more Indians interested in buying our product.” Ramsingh is evasive about B&O’s price range only adding that it is a premium brand.
Jasper Sander Anderson, Global Manager, B&O, admits that due to the present import duty structure, their products in India would be at least 10 per cent higher than the actual price. However, he adds, “We are still confident that given India’s musical tradition, there will quite a few takers for B&O’s products in India.”
Roping in Dr. Vijay Mallya (Chairman, UB Group), as the Chief Guest for the grand launch of their first show room was a smart move as it ensured media frenzy — for a quote from the high flying beer baron (who claims to be a long time user of the brand); as also instant respect among the unsuspecting audience (some of who had heard of the brand for the first time).
To read the entire story, grab your copy of Impact Marketing, Advertising and Media Weekly magazine issue dated April 11-17, 2005