Kronach, 7 October 2021. The tradition-rich Franconian company Loewe commits to its roots and buys back a major part of the factory site. By successfully signing the deal, Loewe and the city of Kronach have laid a solid foundation for the comprehensive modernization of the approximately 62,000-square-meter site at Industriestrasse 11 as well as for the expansion and further development of the company at the Kronach location in the long term. Over the next three to five years, Loewe plans to invest a total volume of up to EUR 25 million.
Since the relaunch of Loewe Technology GmbH at the beginning of 2020, the company has undergone decisive development. The current workforce of around 200 employees has so far newly designed more than 20 products and created a brand-new portfolio. With a significantly diversified product range and its second brand, We. by Loewe, the company is now represented throughout Germany anew and has expanded its distribution to 33 countries. Both the growing global orientation and the new portfolio demand extensive new construction and modernization efforts in order to meet the growing ambitions of the company.
New company headquarters to the east of the gate.
The agreement announced today between the city of Kronach and Loewe paves the way for the company's repurchase of an approximately 62,000-square-meter site east of the gate.
Loewe is aiming for radical changes in several construction phases. The first step is the construction of new office and administrative buildings with a total area of around 10,000 square meters. This is where the company is locating its new headquarters and is thus making a long-term commitment to the Kronach location. For employees in research and development, marketing and customer service, design and administration, the company is relying on modern, daylight-flooded workplaces as well as conference rooms and meeting spaces in line with the latest technical standards.
A new showroom for the presentation of current and future products and store systems is also part of the plans. A further highlight will be the Loewe Museum, which will be open to the public. This is an area designed to be interactive, bringing to life the history of the company and the fascination for modern design and technology in consumer electronics.
The next construction phase will see the creation of 24,000 square meters of modernized production space. Equipped with future-oriented automated production lines, all of the company's premium products will continue to be manufactured Made in Germany". Future flagship products will also be produced by hand here by specially trained employees in a dedicated manufactory.
The final step will be the expansion of Loewe's warehouse and logistics capacity in order to meet the increasing demands of a globally operating distribution network. Modern ERP and warehouse systems as well as larger capacities for shipping and logistics on an additional area of 16,000 square meters are planned for this purpose.
The Innovation & Technology Park for Kronach.
In addition to space for the company's own activities, Loewe's planning also includes the establishment of a technology and innovation campus. Here, the company will create space for start-ups and technology companies and thus contribute to the appeal of the business location. Future residents and their employees will also benefit from the open, agile work concept, the modern research and development laboratories, and the link to the network of partners and distributors of Loewe Technology GmbH. The concept is complemented by potential partnerships with the Lucas Cranach Campus, the local university, whose students can gain a wide range of practical experience through the close ties with Loewe and continuously transfer their knowledge to the company or to start-ups located there.
In total, the new buildings will provide space for up to 500 employees, both from Loewe and from the companies located in the Technology Campus. The first construction measures are scheduled to start in summer 2022.
"We are very pleased about the agreement now reached with the city and look forward to clearing the way for Loewe's further development at the Kronach site. With the investments that are now possible, we are laying the foundation for the future growth of the company, which is characterized by a continuously growing portfolio and an increasing global presence," explains Aslan Khabliev, owner and CEO of Loewe. "At the same time, the Technology and Innovation Campus will deepen the relationship between Loewe and Kronach. The new campus helps to increase the appeal of the location. In doing so, we are attracting new companies to the region and are contributing to the creation of new jobs. "
Loewe is a leading international brand for TV sets and consumer electronics based in Kronach, Franconia. Since its foundation in 1923, the year radio was introduced in Germany, the company has been shaping the industry with its iconic products and countless technical innovations and has received numerous awards for its elegant designs. As a premium brand for superior consumer electronics, the company is committed to first-class materials, high-quality craftsmanship, and a unique and timeless design. Loewe develops its products at its German headquarters and has its own production facilities in Germany with an automated production line and a hand-made fabrication facility for OLED devices – entirely Made in Germany. Today Loewe Technology GmbH employs around 200 people and has an international sales network.
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Florian Richter, Sarah Gätcke
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Loewe Technology GmbH