"Made in Germany" with love and passion: Award-winning manufacturers of smart entertainment solutions is taken over by Skytec Almost 100 years, Germany has boasted LOEWE, the most exquisite yet understated entertainment systems designer for televisions. Renowned for its accuracy in manufacturing, LOEWE has a staggering track record of 'firsts' throughout its history: development of the triple tube used in the Loewe OE333 radio receiver, the first stereo color TV and one of the first flat-screen televisions in 1998. The takeover is an exciting new chapter for extraordinary developments. CEO Vladislav Khabliev spoke from the historic headquarters in Kronach: "We are thrilled to write a new chapter in the success of LOEWE and to expand the brand internationally in premium segments for sophisticated consumer electronics. LOEWE is the go-to brand for consumers valuing independent style and iconic, timeless design. We will further develop this approach with luxury designer labels and premium automotive brands. Synergy with history and future is essential. LOEWE has successfully reintroduced traditional materials to their products which meld seamlessly with state-of-the-art technology." Skytec has the intention to support Bavaria as a vital hub of research and development. Khabliev leads a new team of creative and strategic minds into an exciting new decade. 2020 will see the unveiling of some remarkable television and audio advancements at the world's leading trade show for consumer electronics and home appliances, IFA in Berlin. As part of the Mobile World Congress, the entirely new smartphone category will be launched. Skytec is excited to expand its range into this challenging and competitive sector. Looking further into the future, 2021 will see the launch of white goods. "Skytec has immense experience in repositioning already powerful brands such as Blaupunkt and SHARP. It is with proven successes and expertise that LOEWE will undoubtedly be the next success story. LOEWE becomes part of our DNA as it joins the family business. We have a long-term commitment, dedicated strategic teams and expert resources. Smart investments, international sustainability partners and decades of combined experience will ensure success. Our plans are fierce and enthusiastic," says Khabliev. "We look forward to this defying task with great enthusiasm and excitement." About Skytec Group Ltd Skytec Group Ltd. is an international investment company, specializing in consumer electronics and technology investments and ventures. The company has an excellent track record of successfully growing and exiting start-up ventures, as well as restructuring and relaunching brands to meet the needs of the modern consumer. The company makes investments across Europe, CIS and Asia and utilizes the talents of proven specialists in their respective fields. For Skytec, not even the Sky is the limit! Contact: behle & partner GmbH & Co. KG Florian Richter, Jean Marc Behle Carl-Jordan-Strabe 16 83059 Kolbermoor Germany Tel. 08031/ 39 116 -15/ -07 E. f.richter@behle-partner.de Skytec Group Ltd Vikentios Vikentiou 4 Makariou & Kalogreon Corner Nicolaides Sea View City, Office 903-904, Block A-B 6016 Larnaca, Cyprus Tel. +357-966-77-444 E. vikentios.vikentiou@cpm.com.cy Source: Skytec Group Ltd