Loewe went through deep financial troubles last year, but is now saved. Loewe has been acquired by a group of investors that includes former Bang & Olufsen and Apple executives.
Loewe will be run by former B&O executive
Things have not been great for Loewe lately. Loewe struggled with its financials and later filed for bankruptcy protection, moved their production to China, and formed a strategic partnership with Chinese TV maker Hisense.
The last piece has fallen into place and Loewe has been acquired by a group of investors. The group is led by Danish Jan Gesmar-Larsen, who has been sitting on the board of Bang & Olufsen from 1996 to 2003. Prior to that, he was in charge of Apple’s operations in Europa, the Middle East and Northern Africa. He will now serve as the chairman of the board for Loewe. Other investors include German Constantin Sepmeier and Stefan Kalmund, as well as other former employees of B&O and Apple.
Loewe’s new owners are former B&O and Apple employees
The old company, Loewe AG, will file for bankruptcy, and a new company, Loewe GmbH owned by the investor group, will take over some assets of the Loewe AG – including about half of the employees.
What lies ahead for Loewe is still unclear, but this marks the end of the saga of Loewe’s woes. At one point, rumors said that Loewe was a potential acquisition target for Apple.