The MAR classification has been removed in this corrected version of previously published press release.
The correction was submitted for publication on June 7 at 15:30
Swedish audio product developer Jays Group AB (publ) is partnering with Sunrise Records and Entertainment Limited trading as HMV and FOPP, a leading retailer of music, film, games and technology products with over 120 stores around the UK.
Jays Group AB (publ) announces a new partnership for distribution in the UK with Sunrise Records (HMV and FOPP), starting from Q2 2019. The agreement involves Jays’ current and future product range including products from the a-JAYS, a-Six and m-Six series.
HMV’s heritage as an entertainment retail specialist stretches back over 90 years to 1921 when its first store in London’s Oxford Street was officially opened. HMV offers a wide selection of new release and catalogue titles of music, film, games and technology products. HMV was acquired by Sunrise Records, a Canadian record store company in 2019.
“We are very excited to partner up with Sunrise Records (HMV) in the UK. We created a strong momentum in sales together up until HMVs announcement to go into administration late 2018, which we are now looking re-create. Our relationship with Sunrise (HMV) is strong and I expect our partnership to generate strong business in 2019 and beyond.”, says Henrik Andersson, CEO of Jays Group AB (publ).
This information was submitted for publication on June 5 at 15.50.
For more information, please contact:
Henrik Andersson, CEO
Mobile: +46 761 99 35 55
About JAYS Group AB
Jays Group AB is a publicly listed company on Nasdaq First North. Jays was founded in 2006 with a vision that everyone should have the opportunity to experience great sound and designs.
JAYS Group has in 2018 expanded into the Smart Mobility vertical with the acquisition of KRUSELL AB with a brand legacy of designing and manufacturing high-quality mobile accessories since 1991 with a strong dedication and Nordic appeal in this area. Within the Audio & Sound vertical JAYS Group did in 2019 acquire the award-winning Danish speaker brand CLINT® Digital. The product range of CLINT® is mainly developed and designed in Denmark and strongly focuses on the Nordic design and simple functionality. CLINT® creates digital products that include state-of-the-art technology, sophisticated design and user-friendliness for everyone with No wires – no cables – no hassle and will in 2019 expand into the Smart Speaker area.
Jays vision and growth strategy is based on strong organic growth with profitability in combination with acquisition-driven growth within the audio segment and other close related verticals within consumer electronics such as smart-connectivity and mobile products. In 2017 Jays Group announced the new Group strategy, with a target of a yearly turnover of 200 MSEK by the end of 2019 and approximately 300 MSEK by the end of the three-year period 2018-2020. JAYS Group currently has offices in Sweden, Germany, Hong Kong, Mainland China, Thailand, where its 100% owned production facility is located.
Jays Group´s long-term financial objective is to have annual growth in net sales of 20 percent with a profit of minimum 10 percent EBITDA margin and an equity ratio (solidity) over 30 percent. The company does not publish forecasts and will not present updated detailed forecasts to the market. The business will merely be focusing on meeting the long-term financial targets as per its 3 years group-strategy presented in November 2017. The Jays Group has a strategy plan to make several acquisitions coming years with the objective to diversify and create a strong company group with a focus on long-term profitable growth.
Jays Group AB (publ) is a public company listed at Nasdaq First North. Certified Adviser is Redeye AB with email-address email@example.com and phone +46 8 121 576 90.