April 2008
Bang & Olufsen Enterprise, a leading provider of custom AV installations to luxury hotels and condominiums, has landed another landmark order, and promoted Sales Director Flemming Nielsen to the post of Managing Director to further consolidate the positive development of this business area.
"The contract with property developers Cap Verde Development includes delivery of Bang & Olufsen products to 60 luxury apartments and 14 luxury villas. This is, however, only the first phase of a project that could well become our biggest project ever," says Flemming Nielsen. The luxury apartments and villas are part of the Fortim Mindelo resort located on the Cap Verde islands in the Atlantic Ocean, some 500 kilometres off the coast of West Africa.
Exponential growth
The contract is yet another in a long line of successes. In the past three years, Bang & Olufsen Enterprise has experienced an extremely positive development almost quadrupling its turnover. During the first nine months of financial year 2007/08 alone, the company had reached sales of DKK 108 million, almost doubling the DKK 56 million turnover during the same period the previous year. Bang & Olufsen has already announced that Enterprise turnover is forecast to reach DKK 200-300 million by 2010, and the company is well on the way to realising these figures.
"We are delighted with our results, of course. We are also convinced that the potential is even greater, and we are now more ready than ever to realise this potential to the full," says Flemming Nielsen.
Focus on Dubai
Bang & Olufsen will be identifying opportunities in Dubai, currently one of the world’s fastest-developing financial growth centres.
Managing Director Flemming Nielsen will be based in Dubai, where the Bang & Olufsen sales force will be doubled in the coming financial year. "Dubai is undergoing a construction boom, and for that reason we have chosen to locate our competence centre for the condominium segment here," explains Flemming Nielsen.
It is estimated that 15-25% of all the world’s cranes are currently deployed in Dubai. Experts predict that, over the next ten years, approximately USD 230 billion of new housing will be built in Dubai. In the United Arab Emirates as a whole, property investments are predicted to reach about USD 1,000 billion during the same period.
"Bearing these predictions in mind, the Emirates are an obvious focal point for us, and, as we have built up a really strong organisation in Struer, Denmark over the past couple of years, I think the time is right for me to join the front line," explains Flemming Nielsen.
The perfect job
The newly-appointed Managing Director started his Bang & Olufsen career as a Sales Manager at Bang & Olufsen Telecom. He was then employed at Automotive, another highly-successful Bang & Olufsen division, where he was responsible for the commercial partnership with Audi. Later, when Bang & Olufsen joined forces with Samsung, Flemming Nielsen managed the commercial aspects of the partnership with the Korean giant for three years before moving to Enterprise.
"Since starting with Bang & Olufsen, I have always been involved in business-to-business sales and commercial management. So, my new job at Enterprise suits me down to the ground," says Flemming Nielsen who plans to move to Dubai this summer, with his wife Tina and the couple’s twin daughters, aged 3½.
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