A group of journalists are huddled together in a function room deep within a central London hotel. Before them is a wide, framed display stand. Walled on three sides, a long, Bang & Olufsen-branded curtain hangs across the front-facing section — clearly hiding whatever product the company has gathered them here to announce. The host spares everyone a long intro, the curtain dramatically drops. As the veil falls to the ground, three fancy looking television sets are revealed, they spring into life, revolving on their stands as if slowly lurching towards the audience.
Bang & Olufsen BO.KO +3.28% A/S is planning its biggest single-product marketing push in a decade as it launches a new $8,000 television aimed at winning back buyers in Western Europe who abandoned the brand in recent years for products made by Asian rivals. Speaking during an interview Thursday, Bang & Olufsen Chief Executive Tue Mantoni said the new BeoVision Avant will be heavily marketed to “upper middle class” customers in Germany, Switzerland, the U.K. and other markets long seen as being the core of the company. In recent years, the luxury brand has made moves to expand geographically—including China and the U.S.—and demographically via the launch of its lower-end B&O Play division.
