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07/04/2011 01:05:09 PM · #1 |
The venerable Hasselblad has new owners...
Link to the story
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07/04/2011 01:20:09 PM · #2 |
Wow. Here's what caught ME by surprise:
"After eight years of ownership by the Hong Kong-based Shriro group, Hasselblad is now moving back to its European roots," says Dr. Larry Hansen, Hasselblad's chairman and CEO.
R.
Message edited by author 2011-07-04 13:34:15. |
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07/04/2011 02:08:27 PM · #3 |
| I feel for those who truly create the brand that is Hasselblad... that is, the workers who daily take up the challenge of creating great product. Ownership by an "equity firm" is never a pleasant experience for the employees. Equity firms buy and manage for one thing; the numbers. Their objective is to buy you, get your numbers right so that your purchase price goes up, and re-sell you to someone else who thinks they can do better. Read "be more aggressive." Lather, rinse, repeat. It's a foul business. |
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07/04/2011 02:28:11 PM · #4 |
From reading the press release, it appears they intend to extend the brand to a wider audience, (I added the bold)
âHasselblad is the worldâs most renowned camera brand. We are proud to have such an iconic brand in our portfolio and are convinced that with solid financial support and a suitable growth strategy, Ventizz can further strengthen Hasselblad's position as the first class producer of medium format digital camera systems. Furthermore, we plan to develop Hasselblad cameras to appeal to a wider circle of ambitious photographersâ, said Dr. Helmut Vorndran, Managing Partner and CEO of Ventizz Capital Partners AG, the exclusive advisory to the Ventizz funds.
As a strong financial partner, Ventizz Capital Fund IV L.P. will support Hasselblad and its management team in entering new market segments as well as in the further technological development of existing product lines. Dr. Vorndran: âWe have seen the demand for Hasselblad cameras continue to grow in Asia, as well as in Europe and North America, where there is increased interest in top-quality cameras. Our growth strategy for Hasselblad is therefore timed perfectly.â
You can bet on seeing more consumer level products with the Hassy brand in the near future. Might be a good thing, might not.
Message edited by author 2011-07-04 14:28:54. |
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07/04/2011 03:28:46 PM · #5 |
| Another Swedish company that has been or is being torn up by the dogs - but I dare say you still believe in them, so let's not mourn Hasselblad yet. |
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07/04/2011 03:51:33 PM · #6 |
Originally posted by raish:
Another Swedish company that has been or is being torn up by the dogs - but I dare say you still believe in them, so let's not mourn Hasselblad yet. |
It's interesting that you point out Volvo. And of course, there's Saab. Volvo was acquired by Ford about a decade ago, and General Motors took over Saab. Both companies have since divested themselves of their Swedish acquisitions, leaving them somewhat in tatters. Volvo is now owned by a Chinese holding company, and I'm not sure what's the latest on Saab; a couple years ago they had virtually gone under and been granted a reprieve when a company called Stryker bought them. Now GM seems to be involved again.
But here's the thing: in both cases, American mega-companies acquired much smaller Swedish companies that had an intensely loyal following because they produced unique products, not cookie-cutter vehicles. This is especially true of Saab. Then the new owners tried to force these companies mainstream, and they lost their core constituencies. And that was disturbing to anyone who truly loves automobiles.
So it's in this context that we worry about Hasselblad. Hasselblad's special because they make a special product, and have historically done it without compromise. Leica's the same way. Now, it would be great if they could carry that attitude forward as they move downstream into broader markets, but if they just start branding inferior products and try to charge a premium for the name, that will be awfully sad :-(
R. |
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07/04/2011 04:01:59 PM · #7 |
Bear, you make it sound like a $49.95 focus free P&S Hassy would be a bad thing.
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07/04/2011 04:15:16 PM · #8 |
Originally posted by ambaker:
Bear, you make it sound like a $49.95 focus free P&S Hassy would be a bad thing. |
Not a bad thing if it is a Hassy, but if it is a $9.95 piece of junk with the Hassy nameplate and a $50 price tag... The problem I see with this approach is the devaluation of the high quality cameras because their name is associated with medium or low quality cameras. Porsche found this out with their partnership with VW & Audi - none of the marques made bad products, but just not at the level of the traditional Porsche. Prices fell to a point where Porsche had to artificially price its new cars higher so as to maintain the value of their used cars - otherwise, you could just wait a year, spend less money, and get more car... Dangerous territory, trying to consumerize a "reputation" product. |
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07/04/2011 05:03:58 PM · #9 |
Originally posted by dtremain:
Originally posted by ambaker:
Bear, you make it sound like a $49.95 focus free P&S Hassy would be a bad thing. |
Not a bad thing if it is a Hassy, but if it is a $9.95 piece of junk with the Hassy nameplate and a $50 price tag... The problem I see with this approach is the devaluation of the high quality cameras because their name is associated with medium or low quality cameras. Porsche found this out with their partnership with VW & Audi - none of the marques made bad products, but just not at the level of the traditional Porsche. Prices fell to a point where Porsche had to artificially price its new cars higher so as to maintain the value of their used cars - otherwise, you could just wait a year, spend less money, and get more car... Dangerous territory, trying to consumerize a "reputation" product. |
What the man said...
R. |
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07/04/2011 05:39:22 PM · #10 |
It would be very interesting to see Hassy get into a high end full frame format camera, especially if they can get Zeiss on board. Zeiss already makes some nice lenses for Canon and Nikon. But unless they widen the line a bit to include some zoom lenses (currently all the Zeiss offerings are fixed focal length and manual focus), they will still be a niche player, just in a different format.
I recall back in my film days it would be nice to have an interchangeable back system for 35mm. Rollie had a go at it without much success. Not much need for that in the digital age.
I'm just having a hard time thinking of segment that Hassy can get into and make some numbers. I don't see a medium format sensor getting into the prosumer price range anytime soon. I don't see them making a big intro into the dSLR market. Even if they made a less expensive medium format camera, say in the $3,000.00 range, you still have to spend several thousands on lenses. Seeing how Hassy doesn't make optics, they'd have to get get Zeiss or Schneider to play ball and commit to making some selection of lenses in a more affordable business model.
I suppose they could go into the mirrorless camera arena, something I follow very closely. It's a still developing field with few players. But, there is absolutely nothing in the Hassy DNA to give then an edge over Leica, Panasonic, Sony or Olympus.
Should be fun to see what they come up with in their desire to widen their appeal.
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