The traditional German company Loewe no longer wants to concentrate solely on the development and production of TV and audio sets. Loewe is now expanding its product range, for example with a coffee portafilter machine.
22.03.2025, 13:18
22.03.2025, 14:11
SDA
Company boss Aslan Khabliev said: "We know that coffee is important: Coffee is important, almost everyone drinks coffee." And there are many emotions associated with it. This year, a fully automatic coffee machine will follow, which is technically equipped like machines in restaurants and cafés.
According to the industry association gfu, the market for portafilter machines in Germany grew last year: from January to October, around 250,000 machines were sold, 3.5 percent more than in the same period last year. Sales of these machines grew by six percent to 74 million euros during this period.
Insolvency and niche
Loewe had previously served a niche market with exclusive and high-quality TV sets, said Khabliev. "And if you stay in a niche, there is always the risk that one day the business model may no longer be sufficient and you will get into difficulties."
Lessons have been learned from Loewe's history. Founded in 1923, the company went bankrupt for the first time in 2013 and again in 2019. Finally, Khabliev took over at the end of 2019.
In the first three quarters of 2024, the market for TV sets in Germany declined slightly compared to the previous year. 20 years ago, the importance of a TV set in the home was still great, said Loewe owner Khabliev. Today, TV time is reduced to a few hours a week, for example to watch a movie together as a family. Nevertheless, there will always be a market for TV sets, every household still wants a TV and every hotel room has a TV.
French football star as shareholder
Corona, the wars in Ukraine and the Middle East have hurt sales. The market has collapsed. According to Khabliev, not only Loewe was affected, but also the other manufacturers. Before the insolvency, Loewe had generated sales of 100 to 130 million euros. The company has not yet returned to this level due to the crises, although it has many new products. In 2024, sales amounted to just under EUR 60 million, after EUR 44 million in 2023.
French professional footballer Kylian Mbappè (Real Madrid) plays an important role for the Loewe brand: He is a shareholder, partner and brand ambassador for the Kronach-based company and is set to raise the luxury brand's international profile.
