AN audio engineering business that designs and manufactures mid to high-end audio equipment is experiencing worldwide growth despite the ongoing lockdown restrictions.
Bellshill-based Fyne Audio, which specialises in Hi-Fi and home theatre speakers, has seen a surge in demand for its products, particularly in Asian markets.
The company was experiencing growth before Covid restrictions were enforced and feared the worst initially when lockdown hit. However, its brand strength has helped it through and eventually grown towards the end of lockdown. The business has found that with the COVID-19 pandemic and subsequent lockdowns across the world, customers are investing more in quality home audio equipment, leading to a 10% increase in sales when compared to 2019.
Anji Sosa, Managing Director of Fyne Audio said: “As we were all urged to stay home for the majority of 2020, we saw lots of people spending money on home improvements, including investing in quality audio equipment. We also noticed that many customers were turning to music as a means of relaxation during lockdown and wanted to upgrade their existing sound systems.
“Over the last six months, since the initial crisis subsided, we’ve experienced an exceptionally high demand for our products particularly in Asian markets, which allowed us to surpass our revised targets for the year. We’ve seen that the market in this part of the world has managed to recover quicker than in other countries, and our sales reflect this.
“We were very nervous when the pandemic struck, as most businesses were. Although it has been an extremely difficult time, I am very grateful that Fyne Audio is currently riding on a small silver lining, and we are very fortunate to be in an industry that is seeing such a demand.”
Fyne Audio, which was established in 2017, is based in Grovewood Business Centre, operated by UKSE. Around 60% of products are manufactured in the UK and distributed to over 60 countries worldwide, with the remaining 40% being made in Asia.
Terry Quinn, regional executive at UKSE said: “It is fantastic to see Fyne Audio going from strength to strength in the last 12 months. The pandemic has had a devastating impact on several sectors, but as people continue to stay indoors, there is a greater need for at-home entertainment.
“Fyne Audio is a great example of how businesses have learned to adapt over the last year in the face of what has been an increasingly tough challenge. We’re very impressed with what the business has achieved whilst at our Grovewood space.”
Grovewood Business Centre recently underwent a major refurbishment and offers a range of office and workshop accommodation to small and medium-sized businesses.