In a statement obtained by The Boston Globe, luxury audio company Bose announced it would shutter 119 stores. Retail locations in North America, Europe, Japan, and Australia will close while shops in other Asian countries and the Middle East will remain open. The company cited the rise of online shopping for the decision. Customers in the affected markets can still find Bose products at third-party sellers and on its website.
The fallout — Bose did not share how many employees would be impacted by this move, but it did reveal that it would provide severance and “outplacement assistance.” The statement, which can be read in full on The Verge, notes the company’s retail presence will remain in other markets like India, Southeast Asia, and South Korea as well as its roughly 130 stores in China and the United Arab Emirates.
Moving to online shopping — Bose wants to put its weight behind online sales as more people become fine with buying products without listening to them.
“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, Bose Corporation in the statement. “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.”
Corey Barrett, a senior analyst at research firm M Science, told The Globe that even if some people do want to test products first, they’re more likely to go to a store like Best Buy to compare brands. You can still get Bose products at these kinds of retailers as well as online.