Bose will close more than 100 stores around the world, focus on online shopping
LOS ANGELES - Bose will close 119 stores in North America, Europe, Japan and Australia “over the next few months,” the company said in a statement.
Bose cited an increase in “online shopping in specific markets” as one of the main reasons for the closures. Representatives did not reveal how many employees would be affected but indicated employees would receive severance packages and help finding other work.
Bose opened its first retail store in the U.S. in 1993 as a way to provide “private demonstrations” for its music and home theater systems, according to the statement.
“Originally, our retail stores gave people a way to experience, test and talk to us about multi-component, CD and DVD-based home entertainment systems,” said Colette Burke, vice president of global sales. “At the time, it was a radical idea, but we focused on what our customers needed, and where they needed it – and we’re doing the same thing now.”
The statement also said that 130 stores would remain open in China and the United Arab Emirates, in addition to stores in India, Southeast Asia and South Korea.