EXCLUSIVE:Convoy Fails To Miss A Beat With Record Profits + 32% Sales Growth

Archive, Sound by SmartHouse AdminJanuary 15, 2014June 17, 2017 Share

The loss of the Beats by Dr Dre brand has not stopped Sydney based distributor Convey International from delivering impressive growth with the Company tipped to deliver 10% growth on top of the 32% growth and $18M gross profit the Company achieved at December 2012.

The Company that distributes the Harman Kardon, JBL, Sol Republic, Bowers & Wilkins and Aerial 7 brands in Australia took on the Monster brand headphones shortly after Beats moved distribution in Australia to Ingram Micro.

Within weeks several big retailers including JB Hi Fi and Harvey Norman moved to range the Monster headphones alongside the Beats By Dr Dre range the Company also rolled out new wireless audio products from JBL and a new high performance Harman Karman receiver range which has been extensively promoted by JB Hi Fi who are also tipped to deliver impressive growth figures on February the 9th.

Analysts claim that two of the hottest categories at CES 2014 was headphones and a new generation of wireless audio devices products which have delivered considerable growth for Convoy who after the loss of the #1 headphone brand in Australia was able to quickly replace the loss with the Monster range which has already captured 10% of the US market and up to 15% of the Australian market.

Sales revenue at December 2012 was $54M up from 41M in 2011. Net profits climbed from $6.1 to $6.4M after the Company invested more than $750,000 on marketing this included new interactive instore display systems for retailers.

Geoff Mathews the CEO of Convoy International said “We are looking at around 10% growth for 2013 and we are confident that we have the right product mix to deliver growth”.

He added “We have invested significantly in marketing including new social media and online marketing coupled with extensive in-store displays which we believe are essential elements for retailers today.

At CES 2014 Harman International whose
products are distributed by Convoy unveiled new JBL speakers and a Harman
Kardon networked speaker, networked Blu-ray HTiBs, and networked stereo
receivers.

Harman Kardon also launched its second
tabletop speaker that uses Bluetooth, Apple AirPlay, DLNA, and Wi-Fi to stream
music direct from any mobile device.

The Aura Wireless Omnidirectional Home
Audio System, can also be used with a Harman Kardon Remote app for iOS and
Android mobile devices to stream music stored anywhere on a home network to an
Aura speaker anywhere in the house, the company said.

The Aura, which is set to be launched in
Australia shortly features an LED-illuminated transparent dome with woofer port
that fires up. Six 1.5-inch mid/high drivers work with a 4.5-inch woofer in the
metal base to deliver omnidirectional sound enhanced by Harman Kardon DSP
technology.

Also set to be introduced are two new
Blu-ray receivers, both incorporating 3D Blu-ray receiver like their two-year
old predecessors. Like before, one is a 5.1-channel model, and the other is a
2.1-channel model.

The new models, however, add built-in Wi-Fi,
AirPlay, DLNA 1.5, Bluetooth, NFC, and access to such Cloud services as Picasa,
AccuWeather, and others.

JBL has expanded its soundbar selection to
three with the addition of the SB400, which is JBL’s first networked soundbar
and first soundbar with HDMI. The bar, features three HDMI inputs, an HDMI
output with audio return channel, and Dolby Digital and DTS 5.1 decoding. It
also features Wi-Fi, AirPlay, and DLNA.

Also in JBL products, the company refreshed
the top-end speaker series in its mainstream consumer line-up. The JBL Studio 2
speakers, which replace the Studio 1 series, consist of three floor standing
speakers, a bookshelf speaker, and centre channel.