Bose Corp opens its sixth outlet in country

Bose Corporation, a leading player in the global audio technology business, opened its sixth retail outlet in the country in Chennai.

The company plans to expand its operations in the south with a retail outlet in Hyderabad in the next two to three months.

The company is also planning to open its second outlet in Mumbai.

Ratish Pandey, general manager, Bose India, said, "The company has been growing at 60 per cent year-on-year for the last three years in India." He, however, refused to divulge financial details as the company was privately held.

He added that the total market size of the premium audio products was Rs 100 crore in the organised sector. Bose Corporation's share in this market segment is not available.

Bose Corporation has over 7,000 employees, 18 subsidiaries, eight manufacturing facilities and an annual sales of $1.6 billion.

The company was founded by Dr Amar G Bose in 1964 while he was a professor of electrical engineering at the Massachusetts Institute of Technology in the United States. The company's product offering covers home audio segment, professional systems, automotive systems and noise reduction equipments.

Pandey said, the company's product offering ranged from Rs 7,900 for one speaker to Rs 2.9 lakh for a home theatre system.

The retail home segment contributes close to 70 per cent of the Bose Corporation global revenue while the automotive segment's share is 15 per cent.

The balance comes from professional systems and noise reduction equipment. Pandey said the company ploughs back the profits every year back into its research and development efforts.