23/12/2014 - 11:12

Headphone market growth echoes in Perth

23/12/2014 - 11:12

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Perth company Audiofly is hoping to replicate strong export sales during the past three years with the opening of a new store and headquarters on King Street in the city.

Headphone market growth echoes in Perth

Perth company Audiofly is hoping to replicate strong export sales during the past three years with the opening of a new store and headquarters on King Street in the city.

Audiofly has designed four products for manufacture in China, with 90 per cent of its sales overseas to countries including to South Korea, Indonesia, and elsewhere in Asia.

It has also been active in the $1.6 billion US market, developing a business partnership with international music artist DJ Tiesto.

Audiofly chief executive Dave Thompson said the average price of headphones in the US had tripled in recent years, as quality improved substantially and consumer preferences evolved.

The headphone market has grown alongside the popularity of smartphones, indicated by the sale of international giant Beats to Apple for $3 billion earlier this year.

Audiofly hopes to replicate that success in its collaboration with DJ Tiesto, with the partners having designed a new product line.

Mr Thompson said they had been working with the artist for around 18 months, and the new line was designed to target a different market segment.

The Dutch musician, whose real name is Tijs Michiel Verwest, ranked as the highest earning electronic musician in the recent Forbes celebrity earnings review, raking in the best part of $US250,000 per show.

Audiofly’s strategy next year will be to replicate that international success in the domestic market.

“For us, 2015 is a bit of a refocus to build our brand loyalty locally.” Mr Thompson said.

“Perth’s an interesting place for the industry.

“I feel like in the past six months there’s a bit more of a creative hub here.”

A growing innovation industry has developed in Perth as the state’s economy strengthens, but many local start-ups have gone elsewhere to source funding.

Mr Thomson said 95 per cent of Audiofly’s product was made in China, with that country developing the capacity to produce manufactured goods to a very high quality, particularly through injection moulding.

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