Bang & Olufsen to open Melbourne flagship
The 382sqm flagship store will open on Melbourne’s Russell St.
The Australian and New Zealand arm of Bang & Olufsen, which includes nine stores in Australia and one in New Zealand, was acquired by Australian company, Emerald Group Investments, in May of this year. Emerald Group also operates the LK Boutique luxury watch and jewellery outlets in Sydney and Melbourne.
At its peak, Bang & Olufsen Australia had almost double its current store count. However, the company closed around eight standalone stores in Australia during the GFC. Over the past two years the company has managed to perform consistently, recording 16 per cent growth.
Julian Kipping, GM of Bang & Olufsen Australia and New Zealand, told Inside Retail Weekly that Bang & Olufsen will relocate from its 120sqm Collins St dwelling in Melbourne’s CBD to a site on Russell St, opposite fashion house, Chanel. The Russell St site, once opened, will be among the top four largest footprints for the brand in the world.
“It really sets the tone for what [Emerald Group] want to do with the brand for Australia and New Zealand,” Kipping said of the new flagship store.
In what Kipping has described as a “sensory” flagship, it will be the first Bang & Olufsen store in Australia under the brand’s new global design, with existing stores set to take on the new look over the coming months.
The company is also planning to launch a network of around 10 store in store concepts in partnership with others luxury audio and visual retailers and high-end furniture retailers.
Online is also a focus, with Bang & Olufsen’s first locally dedicated store expected to launch within the next six to nine months.
This year also marks Bang & Olufsen’s 90th anniversary. Bang & Olufsen Australia are set to celebrate the milestone in style, releasing The Love Affair, a limited edition rose gold collection of seven of its most iconic products, from November and hosting a party at the Sydney Opera House in the same month.
“This is a big milestone in our history, and there’s a nice link with the Opera House being from a Danish designer.”