Tim Ireland tells us that “putting on a fancy label and some shiny baubles fools nobody” in his corner of the luxury industry

“ In terms of performance we have a very simple credo: to be the best in class ”
Priorities for Mr Ireland were to simplify the product offering, clarify the value proposition of the brand and leverage the existing philosophy of low volume, high quality. “In terms of performance we have a very simple credo: to be the best in class. Three years ago Meridian had over 130 different products, now there are less than 30. This has made it considerably easier for the customer to understand what he (or she) is buying.”
Central to increasing consumer awareness was the establishment of Meridian branded retail stores, the first in Bangkok in 2009, followed by Santiago, Mexico City, Kuwait, Taipei, New Delhi, Bangalore and Moscow in 2010. A veritable line-up of some of the world’s strongest emerging luxury markets, with exports outside of the UK now accounting for 85% of total sales.

Whilst Mr Ireland has not come from a luxury background per se, his innate understanding of the need for craftsmanship and careful sourcing appear to be a brilliant fit for a manufacturer of high-end consumer electronics. “My first luxury memory was when my father decided to build a 9-metre steam launch out of wood in our garage at home. He took great care to source specific woods for each part of the boat, he found some cherry wood with a particularly tight grain for the crooks on the upper deck. I think this obsession with details is what makes true luxury products stand out, just putting on a fancy label and some shiny baubles fools nobody.”
Ireland has taken this attitude towards quality, focused on Meridian’s existing design and production competencies and leveraged the brands British heritage in forging significant partnerships with two of Britain’s most respected automotive brands.
“ Meridian’s products are assembled in the UK and it is important to me that this continues ”
“We are very proud of our British heritage. Meridian’s products are assembled in the UK and it is important to me that this continues. Britain is renowned all around the globe for its expertise in audio and Meridian is a key part of that. Sometimes the Brits take this for granted but one should never underestimate the regard that exists for our scientists and engineers in all markets. We have had several approaches to work with automotive companies but we chose McLaren Automotive and Range Rover because they are British brands that are the very best at what they do – just like Meridian.”
The company is providing in-car entertainment systems to the next-generation of premium Range Rover vehicles, starting with the Evoque model, which debuted at last year’s Paris Motor Show followed by its 5-door version announced at the Los Angeles Auto-show. Meridian also entered into a partnership in January 2010 with McLaren Automotive for its MP4-12C supercar.

Whilst Meridian may have already been in the homes of discerning high net worth consumers, the entry into luxury automobiles and supercars is sure to increase brand recognition with a new and important market, an ongoing point of importance for its CEO:
“I am not sure we have reached a critical mass yet but I do know that by the end of this year the number of people who have heard of our brand and know what we stand for will be several orders of magnitude higher than three years ago. Branded stores around the world, product placement in films, automotive collaborations with McLaren and Range Rover and the recent announcement of our plans with HP will all contribute in our objective to be the luxury goods brand for audio.”
“Our sales have grown consistently since 2007. Last year the growth was 14%, which was remarkable given the economic circumstances. We would have expected this growth to continue as the world moves out of recession but our retail strategy and automotive relationships will only accelerate this growth.”
