HK Audio and NMK terminate distribution
UAE: HK Audio and NMK Electronics have mutually agreed to terminate their distribution agreement, bringing to an end a five year relationship between the two companies. The termination was declared effective as of July 1st, with NMK citing its own internal changes as the key reason, while HK Audio has suggested that it wishes to move in a different direction within the regional market.
The German loudspeaker brand first entered into the regional market with MI-focused Melody House in July 2010, after which it rapidly gained traction as a leading brand within its category. More recently, changes within the structure of the distribution company have resulted in Melody House concentrating on retail while NMK has taken on broader HK Audio distribution.
‘This decision taken by NMK is a continuation of our strategy to be focused on the current demand of the market and manage our own strategic direction as a group of companies,’ commented Constantinos Drimakis, operations manager at NMK Electronics Ent. ‘We had a good five years with HK Audio and learnt a lot from our cooperation, but today we agreed to go separate ways in order to move forward. We believe HK Audio has a good position in the market and the supplier will benefit from a future collaboration with another local company.’
‘There were no issues between us, this is simply the correct time for us to part and we wish NMK all the best in all of their future plans,’ commented HK Audio international market manager Florian Kunz. ‘NMK is a great company and we are thankful for the job they have done for us for the last five years, but now we are moving in different directions. We have big plans for the region which we will announce shortly.’