News

It's been, as Bette Davis might say, a bumpy ride, but Genesis says it is back as a designer and manufacturer of high-end loudspeakers. Formed in 1991, Genesis was originally partnered by Canadian loudspeaker conglomerate Audio Products International (Mirage, Energy, Sound Dynamics), until famed designers Arnie Nudell and Paul McGowan bought API out in 1994.

In late 1997, Polk Audio announced that it had taken an interest in Genesis, only to abandon its stake to a new set of investors by November of 1998. Since that time, the company struggled to maintain an even footing, and finally slipped into bankruptcy in December of 2001, leaving a trail of angry customers and creditors in its wake. At the time, it was reported that the company's liabilities, estimated to be more than $1 million, would be discharged through bankruptcy court, leaving many of its suppliers hanging.

On August 1, it was publicly announced that the company's assets, including inventory and intellectual property, have now been acquired by newly created Genesis Advanced Technologies and that the new company will resume production and sales of Genesis products. The company says it will expand its list of models and will, according to CEO Gary Leonard Koh, "give our customers [additional] choices, but some of the old designs that are still current will be re-launched."

Koh states, "We have a number of investors who will ensure that the new Genesis has the financial muscle to regain its position as the maker of the best loudspeakers in the world. Everyone involved has a passion for the product and has the ability to bring real-world business skills to the table to run this as a long-term business."

Koh says that Genesis is working to establish offices and production facilities in Seattle (the company had previously been headquartered in Vail, CO). "In order to maintain quality and consistency, Genesis loudspeakers will continue to be made in the USA." Distribution will be handled through dealers and independent distributors. "The plan is to use the website as a support mechanism for Genesis customers and Genesis distribution," states Koh. "The Web will not be used to compete with the distribution. If there are sales done using the Web, they will be with this intention, most likely, for service parts and accessories."

The company reports that original Genesis (and Infinity) founder Arnie Nudell is back as the "chief scientist" of the latest incarnation, which the company suggests will ensure "the continuity of successful Genesis models." Genesis says that a number of new designs are already under development in Nudell's "laboratory." "You will see some of the old stalwarts," says Nudell, who adds that the company intends to "bring new blood into the industry. I've always designed the best loudspeakers I could. With this team now, we will be able to make performance improvements to existing designs and come up with completely new ones, knowing all these efforts will be supported by a rock-solid business base."

As examples of its product plans, the company says that the Genesis 501 and the 928 subwoofer are currently being prepared for re-launch and that the APM-1, popular three to five years ago, will be updated and launched within the next six months.

Joining Nudell will be CEO and managing director Gary Leonard Koh, with 25 years experience in the IT business, Dave Firestone, who has spent the last 10 years at pro-audio manufacturer Mackie Designs and who will serve as corporate president and vice president of sales and marketing, and Jeff Hammerstrom, who will be vice president of product management. Hammerstrom has 25 years of experience in the audio business, including a stint at Carver developing the ribbon for their "Amazing Loudspeaker" (the same ribbon transducer that was later used in the original Genesis 1) and as a speaker designer for both Mackie and Dahlquist.

According to Koh, the new company's first order of business is to provide parts and service "for all the existing owners and dealers of Genesis loudspeakers." Koh says the company will set up a parts and service department, but in the meantime, dealers and customers can send an email to support@genesis80.com.

When asked if existing Genesis warranties will be honored, Koh responded, "Genesis Advanced Technologies will be unable to honor the warranty by the old company because the cost of such a warranty is typically built into the selling price of the product. As Genesis Advanced Technologies is a brand new company, we do not have the reserves from previous product sales to finance those warranties." Koh added, "As we speak directly with customers, we will work through any issues."