Bose is shutting down all of its US stores as retail makes a 'dramatic shift to online shopping'
- Audio equipment company Bose is set to shut down 119 locations across the globe, including all its stores in the United States.
- Sacramento's CBS affiliate reported the news of the store closures on Wednesday.
- As of 2016, the company had a global workforce of 10,500 workers, according to the Telegram.
- In a statement sent to Business Insider, Bose said that it would not disclose how many store employees would lose their jobs.
- The statement cited the "dramatic shift to online shopping in specific markets" as the reason behind this move.
- Visit Business Insider's homepage for more stories.
Bose will shutter 119 retail stores across the globe, including its entire United States fleet.
The CBS affiliate in Sacramento first reported the news Wednesday. In a statement sent to Business Insider, a Bose spokesperson confirmed that it "plans to close its remaining 119 retail stores across North America, Europe, Japan and Australia over the next several months."
Around 130 locations will remain open in China, the United Arab Emirates, India, and South Korea.
The statement noted that Bose opened its first retail store in the United States back in 1993.
"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," global sales vice president Colette Burke said in a statement. "It's still difficult, because the decision impacts some of our amazing store teams who make us proud every day."
The private audio equipment company is declining to release the number of employees who will lose their jobs in the store closures, but Bose's statement noted that it will offer store workers "outplacement assistance and severance."
In 2016, the Telegram reported that Bose employed 10,500 workers in North America, Europe, and Asia.
Read Bose's full statement here:
Given the dramatic shift to online shopping in specific markets, Bose plans to close its remaining 119 retail stores across North America, Europe, Japan and Australia over the next several months. In other parts of the world, Bose stores will remain open, including approximately 130 stores located in Greater China and the United Arab Emirates; and additional stores in India, Southeast Asia, and South Korea.
In 1993, Bose opened its first store in the United States to provide personal, private demonstrations for Wave music systems and Lifestyle home theater systems. As smartphones changed the industry, the company's focus turned to mobile, Bluetooth, and Wi-Fi solutions. Today, Bose noise-cancelling headphones, truly wireless sport earbuds, portable speakers, and smart speakers are increasingly purchased through e-commerce, including Bose.com; and Bose is a larger multi-national company, with a localized mix of channels tailored for a country or region.
"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. "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. It's still difficult, because the decision impacts some of our amazing store teams who make us proud every day. They take care of every person who walks through our doors - whether that's helping with a problem, giving expert advice, or just letting someone take a break and listen to great music. Over the years, they've set the standard for customer service. And everyone at Bose is grateful."
Bose will be offering outplacement assistance and severance to affected employees. Additional details, including the number of employees affected, will remain private.