Tariff pressures leave GP Industries hunting growth in new niches
Battery-maker will pivot to own brands and product innovation to drive growth, amid rising costs and brutal price competition
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[SINGAPORE] As tariff risks push up costs and pricing competition, GP Industries sees long-term growth coming from developing innovative products and focusing on its own brands.
This strategy is being made possible as the group spent the last five years moving its manufacturing facilities from China to South-east Asia – a move that began soon after United States President Donald Trump announced his first wave of tariffs during his first term.
The Hong Kong-based battery-maker manufactures consumer batteries under the GP brand and high-end audio equipment. It had diversified into the acoustics business in 1992 when it acquired leading high-end British brands, KEF and Celestion.
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