SVS Under New Ownership - Specialty Technologies, LLC
SVS just announced this week that it has a new parent company is Specialty Technologies, LLC. Specialty Technologies is apparently a newly formed LLC. SVS says the new company is made up of enthusiast and CE professional partners (we're assuming some of which have some money to invest into operations, of course). The company is saying that the "new SVS" will be better equipped to manufacture new products and meet the demands of its customers. While SVS has had a reputation for impeccable customer service in the past, it has also met with limited demand. As the company grows, it's also good to have access to greater resources to support a larger consumer base. SVS says that its core team will be fully integrated with Specialty Technologies, so both value and performance shouldn't change considerably. We're also expecting that the SVS brand will stay in place, since that is what's recognized and it would make little sense to rebrand or tack on a company with zero name recognition.
Since SVS is working through the ramifications of this acquisition/reformation, or whatever you want to call it, consumers should expect some delays in current order fulfillment. SVS is expecting to begin shipping again by June 3, 2011 - a move that indicates their location is likely changing with respect to building and warehousing subwoofer and loudspeaker products.
Update as of 6/01/2011
About Gary Yacoubian
Gary Yacoubian is a 25 year Consumer Electronics veteran who was formerly President of A/V Specialty chain MyerEmco AudioVideo, based in the Washington, DC area. He is also Immediate Past Chair of the Executive Board of the Consumer Electronics Association (CEA, producers of International CES), and for the past two years has been Vice President, Strategic Development at Monster Cable. Yacoubian will continue to assist Monster Cable and the Head Monster, Noel Lee, as Senior Strategic Advisor to the Head Monster, in addition to his role at SVSound.
SVS, Going Forward
SVS will retain its core team of senior design and product management under the new regime, and will remain true to the vision that has made SVSound a great company with unparalleled products and a dedicated, enthusiastic customer base. Founder Ron Stimpson will continue to play a key role, as will VP and Chief Operating Officer, Ed Mullen.
Yacoubian states, “I am thrilled to be a part of SVSound, as are my partners at Specialty Technologies. We view SVS as a platform to see what is possible in the world of specialty high-performance audio today and in the future. This is a niche that has historically been hugely important to the Consumer Electronics industry, but has been mostly neglected in favor of „hunkering down‟ during a global recession. The recession is subsiding and many of the potential competitors in this space have sold it out and are no longer respected as specialty, differentiated, or premium. We see this as a moment in time for the specialty channel, both via direct-to-consumer, but also via a professional dealer base. I would invite my friends in our industry to stay tuned!!”