In this newly created role, Standley will lead the global product and brand strategy for the Onkyo, Integra, Pioneer, and Elite brands. He will also oversee the brand’s revenue plan, ensuring that each brand maintains the appropriate channel strategy and market share goals. Standley will continue to report to Paul Jacobs, president & CEO of Premium Audio Company.
“Rob is passionate about strategic business planning and has the ability to visualize long-term strategy, making him a powerful member of our executive leadership team as we continue to evolve the PAC portfolio of brands,” says Jacobs. “His ability to focus on our future stability and scalability allow him great diversity in decision making. Rob’s tremendous knowledge of product and market needs, and more importantly global business needs, make him the only person I could entrust with this level of brand leadership. This new position is singularly unique in the PAC family and Rob will undoubtedly pave the way for future change and great success.”
Since joining Klipsch Group in 2012, Standley has occupied numerous senior management roles, and played an integral part in learning and developing every aspect of the professional, commercial, and high-performance component audio segments. His most recent role was leading the vice president and general manager for 11 Trading Company where he oversaw distribution for Onkyo, Integra, Pioneer, and Elite.
Previously, Standley served in executive, management and sales level positions at Vann’s Electronic, working his way through the ranks to become chief operating officer.
PAC Comments on Onkyo Home Entertainment Bankruptcy Filing
PAC has provided comments regarding Onkyo Home Entertainment Corporation’s (OHE) bankruptcy filing with the Osaka District Court. PAC’s statement was made in response to misleading media reports regarding the Onkyo brand, which was acquired through a joint venture between PAC and Sharp Corporation in September 2021 and has grown considerably since.
On May 13, 2022, OHE filed for bankruptcy protection in Osaka, Japan. This filing did not include the assets that were previously purchased by PAC and Sharp. The joint venture between these companies acquired the Onkyo and Integra brands, including all intellectual property, and took responsibility for product development, engineering, sales, marketing, and distribution of Onkyo’s home entertainment business. The joint venture also assumed all manufacturing of these products, which includes a variety of AV and stereo receivers, amplifiers, and hi-fi components under both the Onkyo and Integra brands.
The Premium Audio Company, through its 11 Trading Company (11TC) subsidiary, began as a distributor of the Onkyo, Integra, Pioneer, and Pioneer Elite brands in July 2020. In April 2021, 11TC became the exclusive U.S. distributor of the Teac and Esoteric audio brands and, in September 2021, Premium Audio Company through its joint venture with Sharp, acquired the Onkyo and Integra brands, and established a licensing and distribution agreement with Pioneer Corporation. Sales of these branded products are all through 11TC, which grew from $13.7 million in revenue in Fiscal 2021 to $59.4 million in Fiscal 2022, with Onkyo branded products #1 by volume.
“Demand for Onkyo and Integra products has been very high and we expect this to intensify in the coming years,” says Jacobs. “We have been working very closely with Sharp to ramp up production and have grown our business significantly since the acquisition was completed. We have big plans for Onkyo and the other brands sold through 11TC and as we build production and expand distribution, believe sales will more than double in the near-term. Rumors or any statements to the contrary about the Onkyo brand are simply unfounded and misleading.”
For more information, visit https://www.voxxintl.com/.