Bellshill-based Fyne Audio, which specialises in Hi-Fi and home theatre speakers, has seen a crescendo of demand for its products, particularly in certain overseas markets.
The company was experiencing growth before Covid restrictions were enforced and “feared the worst initially when lockdown hit”. But it said it has been buoyed by its brand strength, and found that with the pandemic and subsequent lockdowns across the world, customers are investing more in quality home audio equipment, leading to a 10 per cent increase in sales when compared to 2019.
MD Anji Sosa 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.”
Fyne Audio, which was established in 2017, is based in Grovewood Business Centre, operated by UKSE. Around 60 per cent of its products are manufactured in the UK and distributed to more than 60 countries, with the remaining 40 per cent being made in Asia.
Terry Quinn, regional executive at Tata Steel division UKSE – which helps businesses and communities that have been affected by changes in the steel industry – said: “It is fantastic to see Fyne Audio going from strength to strength in the last 12 months.
“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.