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ASBIS is a new distribution partner of Bang&Olufsen

May 25, 2020

ASBIS, Bang&Olufsen

ASBIS is a new distribution partner of Bang&Olufsen

PRESS RELEASE - 25 May 2020

ASBISc Enterprises Plc, a leading distributor of IT products in the emerging markets of Europe, the Middle East and Africa, and the producer of Prestigio, Canyon and Perenio brands, has become a new distribution partner of Bang & Olufsen in Central and Eastern Europe and the countries of the Commonwealth of Independent States (CIS), except Russia. The contract entered into force at the beginning of May 2020.

ASBIS was appointed by Bang & Olufsen as a company with 30 years of experience, which at that time built a very strong, leading position in its markets of operations. Thanks to this partnership, Bang & Olufsen plans to strengthen its presence in the retail in both multi-brand and mono-brand channels in Central and Eastern Europe and the CIS.

ASBIS has deep insights into the consumer electronics industry and have a strong track record of working in Eastern and Central Europe and I look forward to a fruitful partnership” said Kristian Teär, CEO of Bang & Olufsen. “Together with ASBIS we will be able to scale our business, move closer to our local retail partners and strengthen our presence in key markets, and I have no doubt that working with one of the leading distributors in this region help us increase the sales of our products.”

ASBIS is a leading distributor of IT products and consumer electronics on the markets of Central and Eastern Europe and in the CIS. We have extensive geographical coverage in dynamically developing markets and 30 years of experience in this industry”, commented Siarhei Kostevitch, CEO and Chairman of the Board of Directors ASBISc Enterprises Plc. “We believe that Bang & Olufsen has untapped potential, and that we can help realize it with our insights and expertise. Partnership with such a well-known and prestigious brand as Bang & Olufsen is also an ideal opportunity for ASBIS to expand its portfolio with luxury audio products and cooperation with local retail partners to strengthen the consumer experience and sales”.

About ASBIS

ASBISc Enterprises PLC (WSE: ASB) is based in 27 countries with a headquarter in Cyprus and specializes in the distribution of Information and Communications Technology products and solutions from global suppliers including Apple, AMD, Acer, Dell, Intel, Lenovo, Microsoft, Samsung, Seagate, Toshiba, WD. The company has its own subsidiaries all over the EMEA region, close to 1,800 employees and 20,000 active customers in over 56 countries around the globe. For more information, visit the company's website at www.asbis.com.

About BANG & OLUFSEN

Bang & Olufsen is a global luxury audio brand founded in 1925 in Struer, Denmark, by Peter Bang and Svend Olufsen whose devotion and vision remain the foundation for the company. The rich heritage built around the relentless determination to create products that push the boundaries of audio technology continues to place the company at the forefront of audio innovation.

Today, every Bang & Olufsen product is still characterized by the unique combination of beautiful sound, timeless design, and unrivalled craftsmanship. The company’s innovative and progressive audio products are sold worldwide in Bang & Olufsen monobrand stores, online, and in multibrand stores.The company employs around 900 people and operates in more than 70 markets. Bang & Olufsen’s shares are listed on Nasdaq Copenhagen A/S. For more information, also visit the Company’s website at www.bang-olufsen.com

Disclaimer: The information contained in each press release posted on this site was factually accurate on the date it was issued. While these press releases and other materials remain on the Company's website, the Company assumes no duty to update the information to reflect subsequent developments. Consequently, readers of the press releases and other materials should not rely upon the information as current or accurate after their issuance dates.