VOXX International Corporation (NASDAQ:VOXX), a leading manufacturer and distributor of automotive, consumer and biometrics technologies, announced today an expanded alliance with Onkyo and Pioneer Corporation, which adds premium brands and new product lines in the Americas.
Based on a successful business relationship with Onkyo and Pioneer Corporation, which began in 2019 when Onkyo became the distributor of Klipsch premium audio solutions in Japan, the companies have expanded this alliance to include the distribution of Onkyo, Pioneer, Pioneer Elite, and the Integra brands in the Americas. Distribution will run through a newly created subsidiary, 11 Trading Company, LLC, and will include products ranging from AV receivers, HiFi equipment, mini systems, smart speakers, turntables, sound bars, home theater systems, optical disc players and more, broadening the Company's portfolio to include a diverse mix of audio products. Onkyo and Pioneer Corporation will continue to distribute Klipsch branded products in Japan.
Pat Lavelle, President and CEO of VOXX International Corporation stated, "As I mentioned on our last earnings call, we are expecting a very strong year for our premium audio operations. Paul Jacobs and the Klipsch team have done an excellent job in developing high-end, premium audio solutions, while expanding distribution and partnerships. This alliance with Onkyo and Pioneer is a perfect example of the types of alliances we seek and should help drive growth in our business this year and beyond."
Paul Jacobs, President and CEO of Klipsch stated, "With this new alliance, we become a truly innovative and complete audio solutions provider in consumer technology and better equipped to address consumer demand with state-of-the-art AV solutions. We will continue to look for areas to expand our business, leverage strengths throughout the VOXX network and work closely with the Onkyo team to enhance the consumer experience."
"We're excited to expand this strategic partnership from Japan into the Americas and are confident that Klipsch is the ideal partner to drive our business to the next level," said Jason Sausto, CEO of Onkyo USA Corporation. Sausto will become a senior advisor for this partnership in the Americas.