Bose is an American manufacturing company which predominantly sells audio equipment. The company was established by Amar Bose in 1964 and is based in Framingham, Massachusetts. Bose is best known for its home audio systems and speakers, noise-cancelling headphones, professional audio products and automobile sound systems. Bose has a reputation for being particularly protective of its patents, trademarks, and brands.
The majority owner of Bose Corporation is the Massachusetts Institute of Technology, which receives cash dividends through the non-voting shares donated by the founder in 2011. According to the company annual report in the 2019 financial year, Bose Corporation received revenue of US$4.0 billion and employed more than 9,000 people
Earlier Bose brand of audio products for home and travel has confirmed via email to The Verge that it will be closing several of its retail stores “over the next few months”. Hundreds of its retail workers will be laid off as a result of the stores closing, but they will be offered severance and outplacement assistance.
Originally, our retail stores gave people a way to experience, test, and talk to us about multi-component, CD and DVD systems. At the time, it was a radical idea, but we focused on what our customers needed, and where they needed is – and we’re doing the same thing now. – Colette Burke, Bose VP of Global Sales
Bose will gradually begin closing down stores in the US, Europe, Japan, and Australia – adding up to 119 stores. Bose will still have retail locations throughout the world – 130 stores through Greater China and the UAE, along with additional stores in India, Southeast Asia, and South Korea.
Today, Bose sells its products at Best Buy, Amazon, Target, Apple Stores, third-party retailers, and on Bose’s own website. Check out the Source link for Bose’s full statement to The Verge.