Can Bose Pull Off A Leap From Old-School Audio To New-School Cool?
The right leadership could bring about a brighter future for the company.
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Subscribe for free to get more stories like this directly to your inboxIt’s been one of the most respected names in the audio industry for generations … and for good reason. Bose has been around for six decades, consistently introducing new and more effective strategies for delivering sound.
But after six decades, times have changed, and Bose’s first is working hard to prevent the once-innovative brand from being left behind.
A series of ups and downs
In 2011, a majority stake in the company shifted to MIT per the terms of founder Amar Bose’s will. Over the next several years, the company seemed to flounder.
Many consumers said its products no longer reflected the industry-leading design and performance that previously justified their comparatively high prices.
Then came COVID-19, which fundamentally disrupted Bose and practically every other retailer on the planet almost overnight. The company closed all of its stores in response to the pandemic and shortly thereafter named Lila Snyder its new CEO.
With physical stores closed, Bose shifted its attention to online sales and partnerships with other retailers, which analysts say helped the company navigate the COVID shutdown more effectively than many of its rivals.
A plan for the future
Snyder has already received some accolades for her leadership through the unprecedented impact of COVID, but she’s not done leaving her fingerprints on the company.
Bose is currently focused on pursuing several potential targets for growth — including noise-canceling technology and car audio, two areas in which the company has previously demonstrated its capabilities.
There are also plans underway to increase the feedback Bose receives from real-world experts like musicians and pilots who use the company’s products in demanding situations every day.
As Snyder concluded: “We have been, and we’ll continue to be, everywhere that music is important to our customers. We’re excited about what we’re ready to bring to the market.”
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