Traditional company: How the TV device manufacturer Loewe is reorganized

The traditional company Loewe no longer wants to concentrate on the development and production of TV and audio devices. Loewe is now expanding its product range, such as a coffee screen machine. CEO Aslan Khabliev said: “We know: coffee is important, almost every drinking coffee.” And there are many emotions associated with it. “There are many stories behind it.” This year a full coffee machine will follow, which is technically equipped like machines in restaurants and cafés.

According to the GFU industry association, the market for portafilter machines in Germany grew last year: From January to October, around 250,000 machines were sold, which was 3.5 percent more than in the same period last year. Sales with these machines grew by six percent to 74 million euros during this period.

So far, Loewe has served a niche with exclusive and high-quality TV sets, said Khabliev in Kronach. “And if you stay in the niche, you always have the risk that one day the business model may no longer be sufficient and you get into difficulties.” Loewes have been learned from the history. The company, founded in 1923, had to go into bankruptcy for the first time in 2013 and again in 2019. Finally, Khabliev took over at the end of 2019.

Throughout Germany, the market for TV sets presented itself slightly in the first three quarters in 2024 compared to the previous year, as GFU says. Smaller screen classes are less in demand, while larger models continued to show stable or sometimes growing sales figures.

Studies regularly showed that consumers see the technical equipment before the price as an important purchase criterion, a GFU spokeswoman said. “Many manufacturers have recently announced that TV sets should play a central role in the control of the smart homes in the future-a development that could have a lasting impact on the market.” Here the association sees one of the largest innovation potential on the TV market.

The importance of a TV in the house was still great 20 years ago, said Loewe-owner Khabliev. Today, the TV period is reduced to a few hours a week, for example to watch a film together as a family. Nevertheless, there will always be a market for TV sets, every household still wants a TV, every hotel room has a TV.

Corona, the wars in Ukraine and the Middle East have harmed sales development. The market was collapsed. Not only did Loewe hit the other manufacturers, Khabliev said. Before the bankruptcy, Loewe made sales of 100 to 130 million euros. You have not yet reached there because of the crises, even though you have many new products. In 2024, sales were achieved at just under 60 million euros, after 44 million euros 2023.

Football star and Loewe

The world-famous French football professional Kylian Mbappè (Real Madrid) plays an important role in the Loewe brand: he is a partner, partner and brand ambassador of the Kronacher company and is intended to make the luxury brand internationally better known.