After a period of uncertainty over the past several months (but we were always confident!), Loewe has now identified investors and received a confirmed offer, which represents a fundamental step forward in the restructuring process. Loewe has officially announced (text below) that in line with stock market regulations, it has received a specific written offer to invest in its business. The bidder has confirmed its commitment to a long-term investment to support Loewe’s strategic realignment.

“This means we have reached a crucial milestone that will put Loewe firmly back on track for success and underscores the attractiveness of the premium Loewe brand and the company as a whole,” said Matthias Harsch, Loeweʼs Executive Board Chairman.

Matthias Harsch Loewe Executive Board Chairman

The process of assessing the offer has already begun. The next stage will see the Executive Board entering into negotiations with the interested parties to finalise the details of the purchase agreement. It is also possible that further potential investors may present specific offers.

“It is now up to us to select the best financial partner for Loewe,” said Rolf Rickmeyer, Loewe’s Chief Financial Officer.

Rolf Rickmeyer Loewe Chief Financial Officer

“In conjunction with the new financial investor, the cooperation with Hisense constitutes a crucial building block in the process that will see the company transformed from a TV equipment manufacturer into the leading premium provider of smart home entertainment solutions,” declared Matthias Harsch.

The entry of an investor is the latest building block in the strategic realignment of Loewe. In respect of the operating business, the company made some key directional decisions in July when it entered into a far-reaching strategic partnership with the Chinese company Hisense. The first concrete projects have already been launched,
such as the development of a joint electronics platform for markets in Europe.

“We’re delivering on everything we promised. We have reduced our costs, secured our technology platform with the Hisense partnership and have now an option to secure long term investment. Next year we will start seeing the fruits of this. It’s an amazing turnaround in such a short space of time and Loewe now looks to a strong period of growth in the coming years.”

James McConnell Managing Director of Loewe UK