The professional business unit of audio equipment maker Bose recently entered the Philippine market, with local firm Versatech International as its official distribution partner.
Bose Professional develops innovative loudspeakers, electronics, and software to meet the needs of demanding professional audio applications.
The brand plans to rally its market presence in the Southeast Asian market with the announcement of Versatech as its partner in the country.
“The Philippines market has for many years, been strategically important for Bose Professional,” Bose Professional regional exec Christian Liebenberg told the Manila Standard. “When considering the very impressive year on year GDP growth of over 6% per annum, our strategy is to grow our business rapidly by significantly expanding our local customer base,” he explained.
The total demand for loudspeakers in the Philippines in 2019 is estimated at 163,200 units, with the market forecast to grow at an average yearly rate of 20%.
As an ICT solution-based distribution and marketing company, Versatech has carried global brands for the tech market in the Philippines. It has a network of 2,000 resellers in the market.
“Partnership is the key”
“Versatech is proud to partner with Bose Professional,” declared Stephen Yu, executive vice president of Versatech. “This partnership fits in line with our overarching direction to complete our company’s premier audio video distribution portfolio.”
“I’ve been asked many many times why did we consider Versatech as the partner for Bose,” said Liebenberg. “And the word partner is really the key to the whole equation. It’s not about distribution, it’s not about putting products on the market place, it’s really about how we can work together in the market place and add value to customers, to business partners to anybody in the value chain.”
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